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Financial data and records management services
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Unlock new opportunities for financial services
With decades of experience partnering with financial institutions of diverse scope and size, we understand the unique challenges in managing financial records.
Whether you seek a digital solution for legacy financial records management or require secure offsite access to stored data and images, we’re here to help maximise the power of your data.
Get In TouchDigital transformation in the finance services industry
In the fast-paced financial services industry, rapid digital transformation is driving an increase in data volume and complexity. For companies with limited resources, integrating digital processes can be challenging, especially when managing vast amounts of data. These processes include everything from leveraging AI in finance for financial records management to adopting paperless solutions by scanning and storing data in online databases. At the same time, stringent data privacy regulations and evolving cybersecurity threats add to the challenges.
Iron Mountain helps financial institutions navigate these complexities by offering secure finance services, data storage solutions, robust compliance frameworks, and advanced data protection measures. With our expertise in information management, we safeguard sensitive data, mitigate risks, and support our clients' digital transformation goals.
Key uses of AI in finance for streamlining work processes
- Fraud detection and prevention: Monitors transactions in real-time to detect and prevent fraudulent activities.
- Risk management: Access and predict risks through market trends analysis, historical data and economic indicators, helping financial services institutions make more informed decisions.
- Credit scoring: Enhance credit scoring models by analysing data sources, resulting in faster and more accurate credit assessments.
- Customer service: Enhanced customer experience and reduced manual workload with 24/7 customer support of AI chatbots.
- Regulatory compliance: Ensure adherence to regulatory standards, identify potential compliance risks.
- Financial records management: automation of data entry, categorisation and retrieval of financial records.
What Iron Mountain Financial services offer:
We can help manage your financial records and information throughout its lifecycle, from initial creation to secure disposition. Our solution includes:
- Off-site document management and storage – streamline real estate, enhance security, manage and accelerate financial records’ retrieval.
- Scanning and digitising – ensure quick and secure access to information.
- Tape and backup services – keep your data fully protected and help you stay compliant.
- Technology escrow and domain name management services – to address intellectual property issues.
- Experts guidance – partner with professionals to manage compliance, retention, risks and every aspect of building an efficient and cost-effective information management programme.
How we can help you tackle the common challenges you face in the financial service industry
What if I face inconsistencies in customer experience?
In today’s market, customers have the tools they need to easily compare financial institutions and switch banks, insurance companies, or mortgage lenders. Without an exceptional customer experience, retaining them can be challenging.
Our services are structured to support both your financial institution and the entire lifecycle of a customer’s journey. From initial consultation to long-term engagement, we partner with you and leverage AI in finance to enhance personalisation and digitalisation. We focus on managing financial records and providing secure financial services data storage solutions to enhance responsiveness to data requests.
How do I handle out-of-control operating costs?
Controlling costs is an inevitable, ever-present challenge in the financial services industry, and those costs can add up quickly. But why should you have to compromise between providing outstanding customer service and maintaining your financial performance?
Our technologies provide a way for you to cut costs without sacrificing service quality. Standardisation and digitisation can maximise process productivity, whileadvancements in artificial intelligence (AI) in finance allow fast and accurate intelligent document processing. Additionally, our secure offsite financial data storage solutions can significantly reduce office real estate expenses, further contributing to your savings.
What can I do to avoid compliance complications?
In one of the most highly regulated industries, financial services organisations face strict compliance and regulatory standards. This requires a well-structured financial records and information management program, which in turn takes more time, budget, and resources.
These regulations are in place to reduce the risk of security and privacy breaches, meet specific legal requirements, and improve business continuity in the case of business disruption. With over 70 years of experience in the areas of compliance, governance, and regulation, Iron Mountain providesthe tools to protect and maximisethe potential of your information.
How can I go about satisfying environmental, social, and governance (ESG) factors?
Companies strive to have a positive impact within their organisations, communities, and beyond. A focus on ESG initiatives is essential for business growth and resilience
With Iron Mountain’s commitment to sustainability and other ESG initiatives, we’ll help you achieve goals that will lead to a positive perception within and about your organisation.
- 65We’ve spent close to seven decades partnering with financial services customers
- 2,500
Of top financial services institutions choose us
- 46/50We work with 46 of the top 50 US banks
- 90%+Of financial services firms rely on our valuable solutions to help run their businesses
View industry use cases
Our solutions to elevate your financial institutions
Iron Cloud data management
Strategic cloud data management and secure data storage with a trusted partner
Iron Mountain Clean Start
Reduce risk, improve productivity, and enhance sustainability as you elevate your workplace
InSight Intelligent Document Processing
Digitise, store, automate, and unlock the power of your data through the power of automation
Document Scanning & Digital Storage Solution
Transform your business and centralise your information with digital scanning and storage
Offsite Records Storage
Preserve your important records with highly secure and compliant offsite storage
Smart Sort
Efficiently unmingle your commingled files—all without a complex, labor-intensive discovery project
Customer success stories
Related resources
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Everybody jumped on the digital bandwagon 10 years ago, and nobody thought about purging.
Our goal was to find a single vendor that offered an unbroken chain of custody and was able to destroy paper records in a secure, ecologically friendly manner
Sustainability is very important to us, and the Green Report is a phenomenal help. It’s clean, concise, and something we’ll continue to use well into the future.
In selecting a service supplier, one of the most important aspects was quality of service. Iron Mountain performs very well and delivers against the required service level to our satisfaction
Frequently asked questions
We’ve got your back with answers to some of our frequently asked financial services questions.
I thought Iron Mountain was just a shredding and storage company. Are there other areas of expertise you can offer my organisation?
Yes. Iron Mountain can help your financial services organisation protect, unlock, and extend the value of your information and assets, whatever they are, wherever they are, and however they’re stored. Our goal is to help bridge the gap between paper, digital, media, and physical through secure workflows and business processes, in a manner that is environmentally responsible. Whether your goal is digital transformation, data and IT security, optimising your workplace and workspace, or sustainability (ESG), our team is ready to partner and help you design and execute the desired future state of your organisation.
Being in the financial services industry, how does digital transformation apply to my organisation?
Iron Mountain works with more than 90% of Fortune 1000 companies, including many that are financial organisations. Although digital transformation may look different for each organisation (i.e. small to midsize bank, commercial bank, credit union, mortgagor, lender, asset management firm, insurance company, etc.), most struggle to marry old with the new—combining legacy customer data stored on tapes or paper with new transactional data. Our goal is to help you overcome business challenges and improve productivity and efficiency through workflow automation, governance, and digitisation of information. Some common themes may be:
- Unlocking the value of paper-based customer information through digitisation
- Mitigating compliance throughout the lifecycle of your customer data and digital records
- Creating and automating workflows for efficient use and access
- Enabling paperless and digital back offices
How does Iron Mountain support financial services organisations with data and IT security?
Our Iron Mountain team can partner with your organisation to create an enterprise-wide strategy that can lower risk exposure across your IT assets, personal devices, sensitive files, and records and maximise your use of data centers. We specialise in working with financial organisations that require a secured process and provide dual custody throughout the handling of your IT assets. Our customers trust us with assets from bank branches, insurance offices, bank operational centers, mortgage processing locations, and more.
Our financial organisation needs help adapting our workplace to the rapidly changing hybrid workforce requirement. Is Iron Mountain able to assist?
Yes. In fact natural disasters, mergers and acquisitions, reduction of physical footprint (branch closures, operational centers downsizing, office relocations, and consolidations), increased remote workers, and staffing impacts may increase the need to reassess your existing business model. Our team can help determine the overall outcome of these impacts and create a plan to help you:
- Clean up physical office space/real estate
- Clean up legacy records
- Reduce/eliminate paper and other physical media
- Navigate a dynamic supply chain environment
- Discuss a combined strategy that may include data and IT security and digital transformation solutions for the most optimal outcome
What do you mean by sustainability and environmental, social, and corporate governance (ESG) for our financial services organisation?
At Iron Mountain, we partner with our customers in a manner that is environmentally responsible and focus on reducing our use of fossil fuels through more sustainable practices. Our team of experts can assist your organisation with claiming renewable energy credits (RECs) for use towards your net-zero goals. We also offer solutions that can help your financial company:
- Create and achieve nature-positive goals; achieve net-zero pledges
- Provide accurate and timely reporting on ESG initiatives to stakeholders and regulators
- Select vendors that align with (or help you achieve) your commitments
- Enable a circular economy
How can I securely dispose of expired IT assets from my bank or financial institution?
Our secure IT asset disposition (ITAD) services can do just that. For example, one small regional bank we've worked with needed to safely and securely dispose of IT assets across five branches and a datacenter in order to begin a massive upgrade to its backend and customer-facing technologies. Here's how our solutions saved this particular bank in terms of data security, cost, and risk.
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