In the News | FinXTech
Untangling the confusing ‘rat’s nest’ around data retention, privacy and sprawl
May 15, 2025 · Authored by Mark Wuchte
Federal regulators are sharpening their focus on how banks manage data, cybersecurity and anti-money laundering compliance, and expectations are rising. Baker Tilly’s Mark Wuchte spoke with FinXTech about the growing regulatory pressure following recent breaches and vendor vulnerabilities. Financial institutions must now demonstrate a clear understanding of who owns their data, where it’s stored and how it’s governed. Effective data management is no longer optional — it’s a regulatory imperative.
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