Banking information management solutions

Banks looking to consolidate existing branches or acquire new locations need to ensure they have a formal process in place to accurately and securely transition vital customer bank records. Whether your banking institution is national or regional, you can count on Iron Mountain to quickly transfer your bank records to new locations or to one of our secure, storage facilities. Iron Mountain’s services can also help increase efficiency and reduce risk by establishing a consistent records retention policy over branch records.

You can leverage Iron Mountain’s expertise to support the interim secure storage and destruction of your checks and teller documents. By offloading these tasks to Iron Mountain, your branch staff can focus on customers and revenue-generating opportunities.

The banking industry is strictly regulated and regardless of the size of your institution, you must be able to adapt your records and information program to changing regulations, so you can meet the demands of regulators and internal audit requests, but also protect your customers’ information. Whether you are reviewing the latest OCC guidance, navigating SEC requirements, or implementing Dodd Frank, you can rely on Iron Mountain to help you mitigate regulatory risk.

In order to meet the 72-hour trade reconstruction provision required by institutions that offer trade swaps and other derivatives, you need to have your banking records management program in order. Iron Mountain’s Professional Services can help your institution evaluate your processes and technologies, and tailor a banking records management solution to serve the specific swap and derivative reporting requirements outlined in the Dodd Frank Act.

Many securities firms have overlooked a critical record keeping obligation: the designated third party (D3P) rule, also known as the SEC Rule 17A-4. Iron Mountain's comprehensive D3P compliance service is available for all types of electronic records, including computer output to laser disc (COLD), back-office, imaged, voice recording and transactional records, as well as email and messaging communications.

You can choose from two distinct options so you can have the solution that best fits your needs:

• D3P Online Access: for secure remote access to your archive systems by Iron Mountain
• D3P Onsite Access: Iron Mountain’s compliance experts retrieve records from archive Electronic Storage Media (ESM) at your facility

Your compliance organization is provided with tremendous insight into your systems.
The service includes:

• A Letter of Intent to regulators informing them that you contracted a Designated Third Party Provider
• A System Configuration Plan (SCP) explaining access to your records
• An annual test and report to show continual compliance while your technology goes through upgrades
• A letter of Undertaking to file with the SEC and self-regulating organizations
• Two D3P status reviews each year to validate accountability
• Peace of mind knowing that you are fully compliant with the D3P rule