How ZyLAB ONE helped a European Bank reduce data collection volumes by 50%
An international bank with headquarters in the EU, with more than 50.000 employees worldwide, including Asia and North America, was subject to an Anti-Money Laundering law investigation. This led to an increase in regulatory compliance investigation, subsequent internal investigations, and litigation.
Due to this increase in internal information requests, the European bank had setup an in-house eDiscovery and Investigations team, consisting of 5 members, to service these requests for internal stakeholders, like Legal, HR, Compliance and Corporate Security departments. Most of the information requests are small volume cases pertaining to employee matters, fraud detection and civil litigation, although the team handles large regulatory requests as well. On average, the team facilitates over 50 cases per day for internal stakeholders.
The team serves as a gatekeeper for email access and other internal repositories in Microsoft Office 365, hosted on Azure. Today the Bank uses the following Office 365 repositories: Exchange, SharePoint, OneDrive and Teams. In addition, because of Bank’s international footprint, the team regularly collects data from regions outside of Europe, like Asia and North America, and in foreign languages like Chinese, Japanese, and German.