Industries
Data room for banks
Short answerBanks use data rooms as advisers, lenders and sellers: running client M&A, syndicating loans, selling loan portfolios and responding to regulators. Any room they use must clear the bank's own MAS-driven technology risk review.
How it works in Singapore
Singapore's local and foreign banks act as advisers, arrangers and lenders across the region, and occasionally sell portfolios or businesses.
Best data rooms for banks
Our five measures re-weighted for this use case, with a small bonus for rooms built for it. Prices before 9% GST.
- 1
Ellty ~S$191/mo 9.0 Visit Ellty - 2
iDeals On quote 8.9 - 3
Datasite On quote 8.9 - 4
Intralinks On quote 8.7 - 5
Ansarada On quote 8.6 - 6
Drooms On quote 8.4 - 7
Firmex On quote 8.4 - 8
SmartRoom On quote 8.3 - 9
Box ~S$19/user/mo 8.0 - 10
DealRoom On quote 8.0
32%Security19%Deal tools22%Permissions16%Ease of use11%Cost
Folder index for banks
01
TransactionDeal documents per mandate.
02
CreditCredit materials for syndicates.
03
Portfolio dataAnonymised loan tapes for portfolio sales.
04
RegulatoryResponses to MAS.
Singapore rules that apply
Banking Act secrecy
Customer information is protected under banking secrecy provisions with limited exceptions.
MAS TRM and outsourcing
Vendors must pass the bank's technology risk and outsourcing assessment.
More detail: MAS technology risk, PDPA.
Features you need
| Feature | Why it matters here | Rooms in our top 10 that list it |
|---|---|---|
| SSO | Staff sign in with the company directory, for example Microsoft Entra ID or Okta, rather than another password. | 5 of 10 |
| Two-factor login | Every login needs a one-time code, app approval or security key as well as the password. | 10 of 10 |
| Audit trail | Time-stamped history of who opened, printed or downloaded each document, exportable for a dispute, insurer or regulator. | 10 of 10 |
| View and download control | Each file can be set to view-only, print or download, and the setting can be changed later. | 9 of 10 |
How to set it up
- Pass vendor reviewProvide certifications and security answers early.
- Use SSOBank staff log in through the directory where supported.
Mistakes to avoid
- Customer data shared beyond banking secrecy exceptions.
- Vendor review started too late.
Questions people ask
What do Singapore banks require from a data room vendor?
Typically ISO 27001 or SOC 2 reports, encryption, logging, two-factor login and contract terms meeting MAS guidelines.
Can loan portfolios be sold through a data room?
Yes, with anonymised loan tapes and staged disclosure, subject to banking secrecy rules.
Do banks need SSO?
Many prefer it for staff access to outside systems.