Academic journal article ABA Banking Journal
Image Archiving: Delivering Business Continuity and Peace of Mind
GREAT EASTERN BANK, A NEW YORK COMMUNITY BANK with $300 million in assets, adopted JPMorgan's i-VAULT![SM] enterprise content management solution in late 2001. As one of the first clients of the i-VAULT! service, President and CEO Bill Laraia learned about the solution through Edward Maher, Great Eastern's correspondent banking officer at JPMorgan Chase Bank.
"When Ed began outlining the digital imaging capabilities that they [JPMorgan] were able to offer through i-VAULT!, I immediately saw a good fit for our business," recalls Laraia. "With our midtown Manhattan head office located adjacent to the Empire State Building, we were very aware of the increased need to protect our more important physical records, particularly in the wake of 9/11/01. In addition to our own concerns, we were also seeing an increased focus on disaster recovery planning from some of our regulators. The emergency preparedness provided by i-VAULT! meant that we would be able to access all of our critical files from a remote site, or even from employees' homes. We found i-VAULT! to be a very cost-effective solution to our document imaging needs, and we take a lot of comfort in knowing that we share the same platform that JPMorgan uses as its own enterprise image archive."
Consulting with JPMorgan's implementation team on the appropriate index criteria to meet its retrieval needs, Great Eastern began scanning its board minutes, loan documents and human resource records. …