The Dodd Frank Act and other government regulations, like Sarbanes-Oxley (SOX), the Gramm-Leach-Bliley Act (GLBA) and the Fair Credit Reporting Act (FCRA) impose many restrictions on financial institutions, including which documents must be retained and for how long, and additional safeguards for consumer private information. Financial institutions continue to be hit hard with fines for violating these laws, to the tune of $36 billion in the last ten years. There has to be an easier way for companies to automate the classification of their unstructured data to meet regulatory standards and avoid millions in fines.
In today’s episode, Darryl Richardson, Aparavi’s Chief Product Evangelist, explains how The Aparavi Platform’s out-of-the-box, pre-defined classification policies can help banks, insurance agencies, mortgage brokers, lenders and other financial institutions:
- Find what they need when they need it across any location;
- Comply with financial regulations;
- Automate data retention policies; and
- Protect their customers personal financial information.
Listen to the podcast episode below and subscribe on your podcatcher of choice.