Data Classification
Data classification is the process of organizing data into categories based on its sensitivity, regulatory requirements, or internal importance. It helps banks and credit unions determine how different types of information should be accessed, stored, shared, or secured.
On the intranet, data classification impacts how policies, procedures, files, and internal forms are managed. Certain documents may be marked as confidential or restricted, while others may be intended for all staff or specific departments only.
Why It Matters
Mismanaging sensitive data - such as exposing confidential member info or internal audit procedures to unauthorized staff - can lead to compliance issues, reputational damage, or security breaches. Data classification helps enforce the right controls for each type of content.
Common Data Classifications
- Public: Safe for general staff or member viewing
- Internal Use: Meant for employees only
- Confidential: Restricted to specific departments or roles
- Regulated: Covered by legal or compliance requirements (e.g., BSA/AML, GLBA)
How SimplifyIT Helps
- Role-based permissions aligned with classification levels
- Ability to flag documents as confidential or sensitive
- Audit trails to show who accessed what and when
- Search and filtering options based on classification
Learn how SimplifyIT supports secure data classification and access control