E-discovery and Electronic Evidence Review for Financial Services Client
When an international retail banking institution needed a single, trusted e-discovery provider backed by a global team of renowned experts to improve consistency across their functional areas and reduce their overall e-discovery costs, our experts were able to help.
With data growing in size and complexity, it can be very difficult and costly to effectively govern, secure and manage datasets across organisations. Over time, companies often find themselves using a multitude of different systems and software which can lead to duplication, inefficiencies and high overheads.
This was indeed the problem faced by the bank, which employed a variety of technology platforms across its global offices and businesses, each requiring different skills, training and technical support. Our client realised this approach posed significant and unnecessary commercial, legal and security risk; they needed one solution that could effectively meet the needs of its many stakeholder groups, while having access to market-leading technology experts for advice on their more complex challenges.
The bank therefore sought to consolidate many of their systems into a single platform which had the scalability and functional range to facilitate a firm-wide approach to their reviews and investigations, and could be deployed instantly in a secure environment easily accessed by their global user base. Our Managed Services package was the ideal solution for their requirements, and provided them the perfect balance between accessibility, administrative control, and cutting-edge technology. It also meant they had a single platform that could support a whole range of projects from large matters with vast volumes of data, to smaller projects involving a few thousand documents.
The e-discovery platform within our Managed Services package, deployed as an end-to-end enterprise solution, is designed to offer organisations control over the functions that govern the many areas of the project lifecycle, from data ingestion to data production, and everything in between. Its intuitive design, coupled with FTI’s proven training programme, means all user groups are able to easily access the environment and quickly become experts with the software.
Using the unique and advanced tools available within the centralised platform, such as visual data analytics, predictive coding and reporting capabilities, provided the bank with faster insights whilst allowing them to regain control over all aspects of their data discovery, reducing the need for, and complexity surrounding, the use of multiple tools across the firm. This allowed the bank to drive its investigations forward efficiently and with a control over budgets, which helped it to achieve consistency across all of its functional areas.
Working together with the bank’s leadership team, our experts were able to:
- Deploy a market-leading platform that met the bank’s end-to-end e-discovery needs while offering the latest in data analytics capabilities
- Provide a self-administered portal, allowing the bank to control all aspects of project administration and further reduce their legal spend
- Deliver a tailored training programme that quickly familiarised the bank’s technology team with the software, enabling them to leverage powerful visualisations and analytics features to help drive efficiencies and increase productivity
- Host the client’s data in an environment that met the client’s strict data security standards and gave them access to the software’s latest features without needing to worry about the hassle or cost of administering upgrades
- Provide an environment that could host a multitude of matters, diverse in both nature and scale, ranging from a few thousand unique documents to over 100m in a single database
- Offer project-specific advice and TAR (technology assisted review) implementation strategies to significantly reduce time, effort and costs commonly associated with electronic evidence review
- Seamlessly integrate with the bank’s support teams so the bank could leverage enhanced project support, best practices, and expert services, to implement and maintain simple and cost efficient reviews
- Draw from FTI’s global consulting base to supplement the bank’s support teams, enabling our client to provide enhanced project support and expert services around the clock to its stakeholders.
In the first 18 months of deployment, the bank’s e-discovery platform was used by nearly 2000 users across 350 matters, all of which were independently managed by the client using the skills provided to them through our training package. On the bank’s more complex and intensive engagements, FTI Consulting’s e-discovery experts were able to seamlessly integrate with their technology team, acting as trusted advisors to offer global project support and expert counsel.
We significantly cut the bank’s cost of creating and utilising bespoke and custom made systems to solve their business needs by implementing a single solution across the organisation for a variety of projects and stakeholders, which contributed to the reduction of their overall legal costs by 75%. Our Managed Service solution is now used widely across the firm.