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Records Management Phase 2Project DetailsThe Financial Services industry faces an explosion of electronic content. The challenge comes in controlling and harnessing the ever-growing masses of unstructured data. Unstructured electronically stored information, such as e-mail, documents and drafts, text stream data, messaging, web content, etc., comprises the majority of the new content our industry must manage. Financial institutions are beginning to measure their data storage requirements in exabytes, where once mere petabytes sufficed. Controlling and utilizing this growing body of information presents challenges in three major areas identified by our members: 1. Meeting regulatory requirements 2. Turning data into useful information 3. Reducing privacy risks and increasing security The member survey in Phase I found that the vast majority of unstructured electronic content is simply stored, backed up and archived, making it impossible to gain any strategic business benefit from the data, while also making it extremely difficult to meet discovery requirements. Phase II of the FSTC Records and Information Management Project we will build on Phase I findings to move toward the development of guidelines for preferred industry-wide approaches to these three challenges. Project Lead: Jim Pitts Jim@fsround.org 214-729-7287 Project DocumentsTo see the documents associated with this project, you must sign in or join FSTC
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