Advancing digital transformation for British banks
Banks are facing the challenges of digital transformation in their industry and are working to implement a strategy to digitise paper-based processes.
Today, most banks operate in a hybrid environment of paper and electronic information, and this means time is wasted searching for and processing documents. As we move toward the paperless bank branch, new customer records, operational records, and legacy records will be digitised for greater accessibility, efficiency, and compliance.
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Banking Solutions use cases
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.
- 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
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.
- 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
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.
- Reduced duplicate and ghost files
- Reduced costs for processing incoming documentation
- Greater compliance with up to date paperwork for employees
Capabilities: The company chose an Iron Mountain modular data centre as the ideal solution to its data centre initiative. This delivered data centre PUE near 1.1, which reduced waste and addressed the sustainability requirement. The MOD also provided a self-contained environment for added security and scalability.
- Fast Time-to-Market
Reduction in money laundering case resolution times through the use of AIAttivio
- $270 billion
Yearly cost to banks of meeting compliance – nearly 10% of operating costsInternational Banker
- Big 4 Banksll of the Big 4 UK banks, and many more, trust and work with Iron Mountain
- 2,5002,500 financial services institutions use Iron Mountain’s solutions and services
Featured banking solutions
Document Scanning and Digital Storage
Transform your business and centralise your information with digital scanning and storage
Asset Lifecycle Management
ALM helps protect not only your data and the environment, but also your bottom line
Efficiently unmingle your commingled files—all without a complex, labor-intensive discovery project
Customer success in banking
Zurich Group: Process standardisation with enhanced security and compliance
Deliver superior customer experience in financial services
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