With the help of these principles, BNY Mellon is in the midst of a multi-year initiative to centralize and automate data retention schedules for paper and electronic data - 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 and automates legal holds.
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