It is good that your organization is considering institutional archives. If you have a comprehensive Records Retention Schedule that includes permanent records, you have won half of the battle. You will need an Archives policy and related procedures. You will have to determine:
1. Where the historical records are stored now and where they will be stored moving forward
2. How they will be transferred from the business units to the archives
3. Who will be responsible to do that and how often
4. How inventories of historical records and three-dimensional objects will be maintained
5. How various records categories will be arranged and to what level they will be described
6. Are your users only internal or will the public have access to some? (use, access, and retrieval)
7. Preservation issues (paper and electronic records)
8. Priority processing projects (that help promote Bank’s image)
I hope this is helpful.
I would add to Bessie’s excellent commentary, covering the library and archives aspects, in terms of “digital transformation”, especially in the FI space: DT (again, especially in the FI realm) is a very deep and wide undertaking. It requires CEO support. Less than CEO support and you should be much more narrowly focused in terms of what you target for “transforming”.
Why? Because, DT is about a lot more than the back office. It is CX (Customer Experience)/Customer Journey-driven; front, middle, and back-office affecting; and structured AND unstructured data encompassing. It requires new TOM’s (Target Operating Models), can potentially involve some effort on bleeding-edge tech such as blockchain and RPA (Robotic Process Automation), should include a formalized “electronic as record” positioning, and so on.
One of the biggest mistakes being made quite commonly in terms of DT is making the conclusion that DT is only about how you organize and process information. For “true” DT, it has to be about restructuring the organization from the first customer/citizen (for gov) touch point, all the way through the various business functions, transactions management, data and content management, policies and procedures, security and privacy, customer retention and recapture, and so on. Hence the need for CEO-level championing.