THE PROBLEM
Adhering to retention requirements can be a challenging endeavor, particularly in industries subject to rigorous regulations and stringent retention mandates. These requirements often vary based on the nature of the records involved. The financial industry serves as a prime example, where firms must navigate a complex web of retention obligations outlined by regulatory bodies such as the Securities and Exchange Commission (SEC).
For example, financial institutions are compelled to preserve trade records and transactional data for a minimum period of six years, ensuring a comprehensive audit trail for all trading activities and associated details. Furthermore, the SEC mandates the indefinite retention of financial statements, auditor reports, and other records that reflect the organization's financial condition and auditing processes. Failure to adhere to these guidelines can result in severe penalties and regulatory scrutiny, highlighting the critical importance of implementing robust retention policies and leveraging specialized systems to manage and safeguard regulated records effectively.
OUR SOLUTION
Ai Smart Data Processing offers a powerful solution by leveraging advanced AI models to enrich and classify data seamlessly. This cutting-edge platform provides organizations with the flexibility to either utilize pre-trained AI models that adhere to industry standards or empower them to train their own customized models tailored to their unique data patterns. By harnessing the power of AI, Ai Smart Data Processing infuses data with intelligent insights, enabling organizations to accurately identify and distinguish between various types of records with precision. This AI-enriched data serves as the foundation for creating robust policies that govern the handling and management of these records.
Once the records are identified and classified, Ai Smart Data Processing's Ai Smart Data Router functionality takes over. Acting as an intelligent routing system, the Smart Router seamlessly directs each record to the appropriate target storage platform, automatically configuring the necessary retention policies based on the record type and associated regulatory requirements.
This streamlined approach not only simplifies the complexities of data retention and classification but also ensures compliance with industry standards and regulations. By automating the process of record identification, policy configuration, and routing, Ai Smart Processing empowers organizations to maintain a high level of data governance while minimizing the risk of non-compliance and potential penalties.