Active digital preservation for financial services

Secure immediate access to your critical long-term information assets. Meet financial authority regulations and create competitive advantage.

Leverage your information advantage

The financial services sector is the most highly regulated and competitive on the planet.

To thrive in this environment financial services organizations across the board, from retail and investment banking to insurance and pensions, can gain an advantage by protecting and leveraging critical long-term information assets.

Ensuring long-term digital information is immediately accessible, trustworthy and available over decades enables financial services organizations to innovate and outsmart the competition, sustain long-term customer relationships, build brand reputation and value, provide evidence in legal disputes, and meet increasingly stringent FINRA, FSA and EU regulations.

Changing the way financial services protect and access long-term digital information

Ensuring accessibility and authenticity of digital information over successive technology cycles and custodians requires a different approach to traditional backup, archiving, storage and content management.

Preservica’s active preservation platform is designed from the ground-up to tackle the unique challenges of protecting digital information over decades. This means ensuring information is securely stored, immediately accessible, trustworthy, and automatically transformed into formats that can be read and used by future applications.

It’s a solution that has already been adopted by leading corporations including HSBC, Lloyds Banking Group, and a growing number of central monetary authorities.

“We needed a system that could help us govern information over the long-term, and also integrate with our existing systems in order to give us a single, cohesive view of our most important information assets”

Tina Staples, Global Head of Archives - HSBC

A vast array of critical information:
from 10 years to 75 years to permanent.

The long-term digital information that financial services organizations need or want to keep for longer than 10 years can run into millions of files in hundreds of different formats:

Core business information

Records of corporate governance, contracts and agreements, HR and employee records, and unique brand and marketing assets

Sector specific

Master policies (25 years) and pension & beneficiary files in insurance (75 years or more)

Information re-use

Economic research and analysis data (permanent)

The complexity and volume of long-term digital information assets will rise as digital transformation, application retirement and paper to digital initiatives gather momentum.

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Report

Benchmark: The governance of long term digital information

In 2017 new research from the Information Governance Initiative (IGI), revealed that 83% of organizations aim to realize direct business value from their long-term digital information, across such areas as market analysis, product innovation, and customer service, but only a minority (16%) have a viable approach for proper governance and preservation.

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Reasons to act now...

Forward thinking financial services organizations are already taking action to protect long-term digital information assets from technology obsolescence. The benefits of acting now:

  • Information carefully stored for the last 10 years might already be obsolete and unreadable

  • The susceptibility of information on shared network drives and SharePoint to loss, deletion and tampering (malicious or accidental)

  • Reduce cost and performance burden on operational and line-of-business applications by transferring long-term and official records to Preservica

  • Accelerate application retirement programs – by providing a safe home for the critical long-term information they contain

  • Avoid the high-risk “big-bang” approach of waiting to the next system migration - when the context and value of information may be unclear

  • The volume and diversity of digital information continues to increase exponentially

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Case studies

HSBC

HSBC has partnered with Preservica to protect and future-proof digital assets of unique strategic, historical and brand importance.

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Resources

Digital preservation 101

Read our one page primer on active digital preservation

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White papers

Essential guide: Safeguarding your vital long-term electronic records

Integrating Digital Preservation into the Information Governance Lifecycle to ensure long-term electronic records are findable, readable and useable when required.

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Ready to future-proof your business? Get in touch today