What is board portal software?
A board portal is a cloud workspace where board directors store board materials, manage agendas, and run meetings. The key functions of board portal software include:
- Cloud storage
- Document management
- Meeting management
- Remote and live meetings
- Board packs management
- Motions and votes
- Board succession
- Compliance management
Board portal software for credit unions, banks, and other financial services simplifies governance and improves compliance:
- Data security. Board portals encrypt data at rest and in transit and employ access permissions and authentication security, all crucial elements of GDPR and ISO 27001 compliance.
- Corporate reporting. Board portals facilitate annual, quarterly, board, financial, and other reports with audit trails, easy document retrieval, and unlimited storage.
- Audit and due diligence readiness. Like board management software for corporations, a financial board portal makes it easier for banks, financial services, and due diligence teams to collect data, conduct audits, and prepare for sell-side due diligence.
| Explore a comprehensive whitepaper answering the question: “What is board management software?” Learn about board portal features, pricing structures, security options, and more. |
Why do banks and financial services need specialized board portals?
Financial compliance standards, like ISO 27001, FISMA, and PCI DSS, impose strict requirements on board portal software for financial services.
| Requirements for banking board management software | Board management features that support compliance |
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Top 3 board portal software options for financial services
Compare the three best board portals for financial services and banks.
| Compare | iDeals Board | Onboard | Azeus Convene |
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Exploring board management software for financial services: Top 8 picks
Let’s explore popular board portals for banks and financial services:
- iDeals Board
- OnBoard
- Aprio
- Govenda
- Our Cat Herder
- Azeus Convene
- BoardEffect
- My Board Packet
iDeals Board
iDeals Board empowers over 1 million professionals across 175,000 boards & organizations. Powered by iDeals Virtual Data Room, iDeals Board offers cutting-edge collaboration and security technology for banks, financial services, credit unions, and community banking services.
- Digital agenda builder with automatic quorum counting
- Digital minute builder with follow-up action items and approval tools
- Electronic motions and votes
- Board engagement trackers
- Board administration dashboards
- Electronic signatures
- Automatically-generated PDF board packs
- Task workflows
- Zoom and Microsoft Teams integration
- Intuitive interface
- iOS and Android apps
- Personal dashboards
- Drag and drop upload
- Full-text search
- AES 256-bit encryption
- Two-factor authentication
- Access roles and permissions
- ISO 27001, ISO 27017, ISO 27018, ISO 9001, SOC 1/ISAE 3402, SOC 2, SOC 3, PCI DSS Level 1, FedRAMP, FISMA, DIACAP, GDPR
- 24/7 live chat support
- 24/7 email support
- 24/7 technical support
- Help Center
- Custom pricing
- Free trial
- Free demo
OnBoard
OnBoard supports over 172,000 users across 30,000 boards and organizations. OnBoard offers robust document management and security tools for banks and credit unions.
- Agenda builder
- Meeting minutes builder
- Notes & annotations
- Zoom integration
- Surveys
- Electronic signatures
- iOS and Android apps
- Board engagement analytics
- System notifications
- Full-text search
- AES 256-bit encryption
- Two-factor authentication
- Access roles and permissions
- ISO 27001, ISO 27701, EU-US Privacy Shield, CSA STAR – Level 1, GDPR, HIPAA, SOC 2 Type II
- 24/7 phone support
- Email support
- Technical support
- Help Center
- Custom pricing
- Free trial
Aprio
Aprio is board management software for government agencies that also offers competitive features for board members on financial boards. A bank, credit union, or financial service can benefit from Aprio’s flat-rate, all-inclusive pricing without tiered feature-based plans.
- Agenda builder
- Meeting minutes builder
- Video conferencing: Zoom, Microsoft Teams, Webex, Goto Meeting, and custom platform
- Task workflows
- Electronic signatures
- Electronic voting
- Notes & comments
- iOS and Android apps
- Keyword search
- AES 256-bit encryption
- Two-factor authentication
- Access permissions
- ISO 27001, SOC 1, SOC 2 Type 2, SOC 3, HIPAA, GLBA
- 24/7 phone support
- Email support
- Live chat support
- Custom pricing
- All features included
Govenda
Govenda offers private, public, and pre-IPO companies collaborative features and AI capabilities. It empowers over 44,000 users and emphasizes quick deployment and a friendly user experience. Govenda has officially been acquired by OnBoard.
- Agenda builder with templates
- AI meeting minutes
- Microsoft 365 integration
- Meeting RSVP
- Digital board books
- iOS and Android apps
- Committee workrooms
- AI assistant
- AES 256-bit encryption
- Two-factor authentication
- Access permissions
- ISO 27001, SOC 1 Type 2, SOC 2 Type 2, SOC 3, HIPAA, HITECH
- 24/7 email support
- Phone support
- Help Center
- Custom pricing
- Free demo
Our Cat Herder
While being board management software for nonprofits, Our Cat Herder also supports small businesses across many industries, including banking and financials. Our Cat Herder offers a balanced combination of collaborative and security features.
- Agenda builder with templates
- Digital board packs
- Discussions & digital voting
- Built-in minute taker
- Notes & comments
- Web version
- Action tracking
- Private notes
- AES 256-bit encryption
- Two-factor authentication
- Automated backups
- 20 access roles
- ISO 27001, SOC 1, SOC 2, SOC 3, FedRAMP, FISMA
- 24/67 email support
- Phone support
- Help Center
- Profit-based pricing
- Free trial
- All features included
Azeus Convene
Azeus Convene is board management software for crown corporations and the public market that empowers over 100,000 boards, including banks and credit unions. Azeus Convene facilitates virtual meetings, including scheduling, video conferencing, and live presentations.
- Agenda builder
- Minute taker
- Proprietary video and audio conferencing
- Annotations
- Task workflows
- Voting & resolutions
- iOS and Android apps
- Activity dashboards
- Laser pointer
- AES 256-bit encryption
- Two-factor authentication
- Access permissions
- ISO 27001, ISO 27017, ISO 27018, CMMI Level 5
- Technical support
- Email support
- Phone support
- Live chat
- Custom pricing
- Free trial
- Free demo
BoardEffect
BoardEffect supports over 200,000 users and 14,000 organizations, mainly nonprofits, healthcare, and educational institutions. Still, BoardEffect has several capabilities that make it suitable for banks and financial services.
- Online board books
- Meeting schedules
- Task workflows
- Surveys & evaluations
- Microsoft 265 integration
- iOS and Android app
- Zoom and Go-To-Meeting integrations
- AES 256-bit encryption
- Two-factor authentication
- Access permissions
- ISO 27001, ISO 27017, ISO 27018, SOC 1 Type 2, SOC 2 Type 2, HIPAA, HITECH
- Technical support during business hours
- Email support
- Product guides and FAQs
- Custom pricing
- Free demo
My Board Packet
My Board Packet is a dedicated board portal for banks, credit unions, and hospitals. It offers simple yet effective solutions for board communications and meetings.
- RSVP & attendance tracking
- Digital voting
- Auto-generated board books
- iPad app
- Keyword search
- Threaded discussions
- AES 256-bit encryption
- Two-factor authentication
- Access permissions
- Daily backups
- SOC 2, GLBA, OCC, HIPAA
- Email support
- Ticket-based technical support
- Custom pricing
- Free demo
- Unlimited users
- All features included
How to choose the best board portal for financial services and banking
Check out a few helpful tips for choosing software for your board of directors.
1. Prioritize financial compliance
Unlike board management software for health services or government, portals for banks require specialized financial compliance certificates:
- SOC 1 — to maintain financial reporting controls
- PCI DSS Level 1 — to safeguard card information
- GDPR — to deal with EU clients
- FISMA — to deal with federal contracts
2. Check security posture alongside features
Check media for security breaches related to your target board portal. It’s advisable to avoid board portals that were compromised in the past.
3. Check support channels
Aim at a combination of 24/7 human support via live chat, email, phone, and help centers with admin and user guides.