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Sep 11, 2009

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Solving real business problems for financial institutions through understanding records

CiFER conducts research, hosts educational and networking events, engages in advocacy and provides products and services related to financial records and the records of financial institutions.


In today’s complex operating environment, global financial institutions face a growing number of risks associated with business records. Insufficient understanding and control of business records is at the root of many of the current risks faced by financial institutions: data leakage, integrity of transaction records, legal discovery challenges, data protection and confidentiality, trans-border data flow, and records retention to name but a few.


The key to resolving many of these issues is in developing a clearer understanding of the records of financial institutions – their creation, communication, storage, and disposal, as well as the people and systems that shape these processes.  From this understanding the principles and practices associated with a strong and effective program of managing and controlling the risks associated with records can be achieved.