Normangeestar

It will come as no surprise to learn that financial institutions are one of the most complex business types when it comes to record-keeping requirements. Operating in one of the most heavily regulated industries, with multiple state and federal agencies setting guidelines and laws that govern how records are handled, banking is a minefield of potential compliance issues.

Banks and lenders have to deal with all of the usual records and pieces of data that come with running almost any business, as well as the personal and financial information of their clients, all of which are highly sensitive. Naturally, these intersect to make for a particularly fraught records management landscape, one which can result in businesses running into hefty fines if not properly navigated.