FileThis automates the collection and archiving of clients’ important records
FileThis, a startup based near Silicon Valley, released a version of its electronic document retrieval and storage service for financial professionals.
In a broadcast last year (watch FPPad Bits and Bytes for August 16), I highlighted FileThis Fetch, a service that connects to users’ financial accounts to capture electronic statements and PDF files, routing them to the user’s storage service of choice, including Evernote, Dropbox, Personal, and Google Drive.
FileThis Client Portal
Aimed at reducing lost or undelivered documents by clients, the FileThis Document and Client Portal uses the company’s same Fetch process to capture files from a variety of financial institutions including banks, credit card companies, investment accounts, and more.
The new Document and Client Portal adds on administrative features financial advisers should find very useful. Advisers can invitations to use the FileThis platform from the dashboard.
Once clients activate their accounts, they can begin to link financial accounts to FileThis so the platform can fetch related documents and statements.
FileThis attempts to automatically identify and categorize documents fetched by the platform to sort them into meaningful categories.
Documents can be stored in cabinets that correspond to high-level categories such as education, financial, and vital records.
Documents are also identified by accounts using vendor names like AT&T and Bank of America. Finally, individual documents are tagged with metadata to identify the content of the document, including bills, statements, invoices, and more.
Any service that retrieves and stores sensitive financial information must have high security protections in place.
FileThis follows bank-level security procedures to ensure the safety and security of the information it stores.
Data to and from FileThis is sent using 256-bit SSL, and account credentials are encrypted using AES 256-bit encryption. Much more information on the FileThis security features can be found on this page: https://filethis.com/security/
With the launch of FileThis Documents and Client Portal, FileThis is offering introductory pricing for new users.
The starter plan is $49 per month for one admin, and the admin account permits up to 50 login accounts for end users, i.e. clients.
Firms that need more accounts for clients should consider the $99 per month plan with two admin accounts and support for up to 400 client logins.
Pricing information for more than 400 client logins can be viewed at the bottom of this page: https://filethis.com/pro/