Investment banking datarooms are online file repositories which investment bankers can use to share and look over confidential information. They provide a more efficient alternative to physical storage and allow business processes be carried out remotely. With COVID-19 and the global shift to digital work investment banks are utilizing VDRs more than ever before.

Investment bankers are most concerned with a secure environment when choosing a VDR. It is essential to accelerate due diligence by having a central place that everyone can access and review files in real-time. It can help avoid any leaks which see post could lead to fines or penalties.

The investment bankers also want features such as easy-to-use user interfaces as well as a reliable support team. They also want the option to customize and make the data room to meet their requirements. Many customers say that iDeals is a user-friendly service and a great customer service. Another option that is gaining popularity is DealRoom, which has handled thousands of M&A capital-raising campaigns.

With investment banks relying on VDRs to streamline their business processes, it’s no wonder the technology is quickly becoming a regular part of their day-to-day operations. With the cost of data breaches in the world expected to rise to 180 zettabytes this year, investment banks expect their VDR providers to keep improving their security.