Financial services

Banking

Accelerate digital transformation. Enhance financial services compliance and gain efficiencies. Ensure protection of information

Business as usual is no longer an option

In such a highly regulated, ultra-competitive and rapidly changing industry, it is imperative that you partner with someone who can meet the changing requirements of banks.

The banking industry is continuously evolving due to challenges stemming from regulation, legacy systems, disruptive models and technology, increased competition and a drive for improving the customer experience. As a result, the way your bank identifies, accesses, monitors and protects different types of information has to evolve as well. It is essential that you adapt your bank records retention and internal audit requests, while also ensuring the security of your customer’s information.

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Banking Solutions use cases

Fraud Analytics

Challenge: A major US bank was experiencing a high level of check fraud. As a result, it became necessary to review a very large number of previously processed checks in a very compressed time frame. The bank did not have the equipment, manpower, or data capture expertise and technology to process these checks within the deadline.

Capabilities: Iron Mountain quickly configured a solution to receive the previously imaged checks, capture the required metadata using both automation and manual techniques, and then fed that data back to the customer.
Value prop:

Met required deadline and completed necessary analysis to inform their fraud system
Leveraged the Iron Mountain solution for incident management and day-forward monitoring

Backfile imaging for improved access

Challenge: A global financial services company was consolidating facilities nationwide, looking at how to best utilise available space. The company struggled to manage physical files, which at the time were being stored in cabinets located near specific employees who needed access to those particular files. The goal was to simplify access to these files for authorised employees as the company transitioned to a more mobile and remote workforce.

Capabilities: Iron Mountain partnered with the customer to create and execute a holistic solution to back file highly active images and store, microform and deploy an image on demand solution for the less active files. A day forward plan was put in place for image capture and born digital documents to optimise business processing and enable employee access to information.

Value prop:

Lowered operating expenses
Reduced cycle times
Greater control and visibility into processes
Optimised spend with day-forward process
Uniform indexing scheme to manage older documents

HR document inventory management

Challenge:A global professional services firm was looking to better manage human resources files, including maintaining a proper inventory of current documents. This was becoming more challenging, particularly as they rolled out a hoteling strategy that allowed an already mobile workforce even more flexibility to work anywhere.

Capabilities: Iron Mountain created a centralised capture process to ingest Human Resources documents as they are received, validated those documents with the client’s HR database and provided an inventory of the document types along with other attributes to maintain replacement dates.

Value prop:

Reduced duplicate and ghost files
Reduced costs for processing incoming documentation
Greater compliance with up to date paperwork for employees

1,400
Expansive footprint: more than 1,400 facilities in over 50 countries
65
Iron Mountain has over 65 years of experience in servicing the needs of banking customers
2,500
2,500 financial services institutions use Iron Mountain’s solutions and services

Why Iron Mountain?

We have the experience and expertise to streamline your business while keeping your customers data safe and secure. We are especially proud to partner with banking institutions like yours. Together, we elevate the power of your work.

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Everybody jumped on the digital bandwagon 10 years ago and nobody thought about purging.

Amy KeithPhysical Security Officer and Business Continuity Plan Manager, Purdue Federal

People in the financial services industry love their paper and hate to get rid of it…. Policy center was an immense weight off our shoulders in trying to map the documents to the citations. There is no way the internal group could have gotten it done on their own.

Johanna DowneyCompliance Officer, Purdue Federal

Frequently asked questions

As the banking industry moves ever closer toward the paperless branch model, more and more banks face challenges presented by digital transformation. Here are answers to questions we’re often asked—including how we can help.

How can Iron Mountain help my banking institution prepare for what comes next?

Whether you’re looking to accelerate digital transformation, ensure protection of information, or enhance compliance and gain efficiencies within your bank, partnering with Iron Mountain means building greater business resilience to help you withstand whatever comes next.

How can Iron Mountain help with data management?

Iron Mountain is your trusted partner for strategic cloud data management, throughout the entire data lifecycle. Whether you need to archive, back up, or recover your data, we can recommend a multi-tiered data storage approach to better protect, preserve, and unlock the full value of your information