Sydney MSP Informotion has been tapped to deliver the Encompaas platform to Bendigo and Adelaide Bank to automate the Bank’s electronic document compliance.
Encompaas is a cloud platform that uses machine learning to identify, analyse and categorise unstructured data throughout an organisation’s network, providing insights into and across content and ensuring it is stored and secured in a compliant manner.
It will provide a range of improvements for the bank stemming from the ability to automatically manage obligations related to electronic documents within its Microsoft cloud-based environment, a release from the vendor said.
These include strengthening controls over the use and retention of customer information; auto-classification enabling the discovery and analysis of electronic documentation at scale; preventing unintended deletion of records and providing detailed audit trails to prevent fraud; and, by removing the need for manual document classification, the process will be faster, more accurate and improve compliance.
The platform will also improve the bank’s migration of records into Microsoft 365 as it is able to recognise and extract customer identifiers and other metadata from original documents.
“We recognise our customers needed to bridge the gap between traditional on-premises records and information management solutions and cloud-based applications and services, particularly as they embrace M365, SharePoint Online and Teams to create and collaborate on content,” said Informotion general manager Deb Dwyer.
“As Platinum partner for Encompaas, we are excited about the compliance innovation the EncompaaS platform lets us bring to our customers, including a discovery-led approach to governance, managing records-in-place and unlocking data value. We are helping them build out a compliant digital workplace that leverages their investment in M365, SharePoint Online and Teams, while ensuring the legal and compliance teams are properly supported through the transition and into the future.”
The Encompaas solution was originally created by Informotion, but was spun out into a new company in 2017 with Informotion acting as the primary reseller in Australia.
“At Bendigo and Adelaide Bank, innovation is at the core of everything we do, so as to ensure we remain relevant in the eyes of our customers,”
“Our technology and transformation strategy is centred around reducing complexity, building digital capability, and delivering new services for our banking customers. This strategy is helping us simplify and optimise our business by allowing us to use automation and digitisation to drive value from our technology investments,” said Bendigo and Adelaide Bank chief information officer Andrew Cresp.ADVERTISING
“The Encompaas compliance platform is a tool which will greatly increase Bendigo and Adelaide Bank’s ability to understand, manage and analyse its customer data, which in turn, will allow the Bank to further streamline and tailor its service offerings to better meet our customers’ specific needs,” said Cresp.Got a news tip for our journalists? Share it with us anonymously here.
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