Some of the early bank projects include prioritization techniques that provide an example. BNY Mellon's project includes an initiative to centralize and automate data retention schedules for paper and electronic delivery, including structured and unstructured data that can be subject to legal discovery.
The bank is unifying processes in legal, risk, and IT and is providing a framework to link job duties and data across departments. It's also creating a global standard taxonomy that identifies the business value of all information. The idea is to determine what data needs to be stored and what data is no longer necessary.
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