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ABA Invites Members to Participate in Technology Focused Records Management Survey
ABA's Records Management Working Group recently collaborated with the Financial Services Technology Consortium (FSTC) on a study that highlighted a number of key challenges. One of the major challenges was "retention and disposition" of unstructured electronically stored information. Following this study, a number of firms asked that a survey be undertaken to learn how financial institutions are currently dealing with the related set of issues.
Over-retention clearly increases costs and exposure to operational risks and addressing this problem is considered by many to be low hanging fruit. This survey of bank CIO or IT lead for records, which will be accompanied by a series of interviews, periodic meetings and workshops, is designed to gather the information financial institutions need to optimize their own solutions for retention and disposition.
Since the value of the information (to be reported anonymously) is only as valuable as the number of participants, we urge you to consider participation in this collaborative effort between the ABA and FSTC. For the project prospectus, survey and commitment paperwork and participation fees, please click on the following links:
For any questions or comments you may have regarding this survey please contact:
Following completion of this initiative, the ABA Records Management Working Group will launch a corresponding study focusing on current practices in records management at financial institutions. This survey will center primarily on records management programs as well as policies. More information about this survey will become available in the coming weeks.
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