Smarter, faster remediation reviews for Royal Commission finding
A ‘big 4’ consultancy firm was engaged to review 64,000 cases as a part major remediation exercise for a large Australian retail bank Needing to assess over nine million documents, have the exercise completed within a year and have a strong evidence trail to provide to the regulator, the firm knew that only a technology solution would enable them to deliver against the brief.
The solution needed to be able to ingest over 120,000 documents per day, integrate with existing workflow and MI solutions and scale up to support 500 users. To hit the timeline, it also needed to reduce the average handling time by 40% without a dilution of quality. The final requirement was to provide a definitive record of the review findings and associated evidence that could withstand regulatory scrutiny.
Recordsure solution
CaseReviewAI’s document analysis module was used by the consultancy firm to create a tailored solution to address the challenges. Dynamic scaling was used to give the greatest cost efficiency from the peaks and troughs of document ingest.
Once ingested, the documents triggered the client’s workflow tool to begin the case whilst CaseReviewAI automatically classified, dated and analysed based on a combination of AI and business rules to identify key data points, promote the most pertinent information relating to the case and remove any need to review the substantial volume of inconsequential information.
File reviewers were then able to use our specifically designed user interface to mark up the documents in line with the core themes of the remediation, adding bespoke narrative where appropriate. As each case was given its final outcome, CaseReviewAI provided an evidence pack containing copies of the documents use to reach the outcome along with the annotations and narrative applied, all complemented with a metadata file for MI ingestion.
Identify
Identify to classify and date nine million documents across 70 file types going back to 2006 and tag them with bespoke categories relevant to that specific remediation.
Discover
Discover to promote to the user the key information from the key documents, ignoring the vast amount of irrelevant data that is synonymous with remediation exercises.
Evidence
Evidence to provide an audit trail of every evidentiary finding as electronic data and / or in-document mark-up that can be exported as PDFs for an authoritative record of the review findings.
Benefits
- 95% classification and dating success rate
- Reduced average handling time by 50%
- Ignored c.95 % of documents that were irrelevant to the review outcome
- Promoted to user the key relevant information for the review outcome
- Provided evidence pack of all marked-up documents used to support the conclusion
- Interfaced with existing workflow and MI solutions to provide holistic remediation solution
Since 2018
Time with Recordsure
120,000
Total documents per day
9,000,000
Total documents ingested
64,000
Total case reviews
520
Users
