Too Much in the Vault

The Costs and Risks of Data Bloat for Financial Services Providers

The report, "Too Much in the Vault: The Costs and Risks of Data Bloat for Financial Services Providers" takes a look at the impact of financial services data disposal practices around the world.

Within a complex regulatory and threat environment, excess financial sector data affects security, compliance, and sustainability—even when it’s stored in the cloud.

So how are financial institutions managing surplus data?

Produced in partnership with Coleman Parkes, our research shows:

  • 90% of financial services providers host at least some data in the cloud. More than half host all their data there.
  • 67% say digital transformation has increased the amount of redundant, obsolete, or trivial (ROT) data collected.
  • 1 in 6 providers don’t have a specific policy for no-longer-needed data.

And, with 4% of carbon emissions coming from IT use across all industries, overlooking financial services data disposal can hinder providers from achieving net zero.

Download our research study of 900 banking and financial sector organizations around the world to learn:

  • Catalysts for moving financial services data to the cloud
  • How regulations are forcing greater scrutiny of end-of-life data management—wherever data is stored
  • Where banks can improve in shrinking their attack surface
  • How e-waste and carbon emissions concerns affect timely data disposal—and the methods financial services providers use to get rid of data

Too Much in the Vault will help you understand how financial services data disposal affects sustainability practices, regulatory compliance, and data protection.

Download the report today.

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