[Study] Bank Document Retention

Study of how other banks manage document retention.

What’s Covered in this Summary Report?

echnology firm AccuSystems recently conducted a survey of 94 community banks. The results of this study provide a unique perspective into how financial institutions manage document retention issues. Please note that this study is for informational purposes only and is not to be taken as guidance or advice for your institution. Seek appropriate legal and compliance counsel before making decisions about retention.

Policy Updates 

Nearly half of financial institutions with retention policies make yearly policy updates.

Compliance  

Most institutions that have document retention policies rely on their compliance department to make updates.

Shredding 

Almost half of the institutions surveyed retain paper copies of documents for a few weeks or months before shredding.

About AccuSystems

AccuSystems provides quality document imaging solutions for over 200 community and regional banks. Our electronic imaging and intelligent document management tools make AccuSystems the clear choice for loan file imaging and advanced bank document management.

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