Bendigo and Adelaide Bank chooses EncompaaS

EncompaaS cloud platform to strengthen governance, compliance and security, and improve productivity and agility within Microsoft cloud-based environment

Sydney, Australia – 7 December 2021: Australian enterprise compliance SaaS provider, EncompaaS, today announced that Bendigo and Adelaide Bank (the Bank) has chosen the EncompaaS cloud platform to automate its regulatory and business governance obligations for electronic documents.

The new EncompaaS platform will allow the Bank to automatically manage its obligations in relation to electronic documents within its Microsoft cloud-based environment, which will in turn, strengthen the Bank’s governance, compliance and security, and further improve productivity and business agility. 

By consolidating and centralising its electronic records in the new M365 environment, Bendigo and Adelaide Bank expects to strengthen existing controls which will ensure customer information is stored securely, used only for the specific purposes intended, and retained only for as long as required.

Leveraging Artificial Intelligence (AI), Machine Learning (ML) and automation, EncompaaS will allow the Bank to more efficiently discover, analyse, enrich and manage its electronic documentation at scale, and according to its governance policies. EncompaaS will also support fraud management by preventing the unintended deletion of records and providing detailed audit trails.

Auto classification will be a key focus of the EncompaaS implementation, with AI and ML used to identify and classify documents as they are created. This will remove the need for Bendigo and Adelaide Bank team members to manually classify documents, which will make the process faster, more accurate and improve overall compliance.

EncompaaS’s metadata enhancement capabilities will also round out the migration of records into the Microsoft 365 environment by recognising and extracting key customer identifiers and other metadata from the original documents – something not previously possible with standard migration tools.

“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,” said Andrew Cresp, Chief Information Officer, Bendigo and Adelaide Bank.

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.

“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.

“Bendigo and Adelaide Bank – and other leading organisations that have recently joined the EncompaaS community – demonstrate the innovative and forward thinking required to get ahead of the information governance curve in a digital world,” said EncompaaS CEO Jesse Todd.

“Most organisations we talk to are struggling to keep up with today’s complex data and regulatory requirements, let alone leverage the value of their content to make better decisions and deliver better services to customers,” said Todd. “Our goal is to help organisations discover, understand and enrich their content so they can inform decisions and strategy in real time, and meet their broader obligations more easily, not just records management.”

About EncompaaS

EncompaaS’s cloud-based compliance platform delivers intelligent, automated information governance across all an organisation’s on-premises content repositories, cloud repositories and cloud application services. EncompaaS automatically manages enterprise content, applying rules and policies behind the scenes, so users can use whatever application is best suited to their roles. By analysing information within content repositories with machine learning and AI, EncompaaS visualises content patterns and themes to understand its significance. With these insights, organisations can manage enterprise content compliantly, migrate it to new digital platforms, and retire it in accordance with legislation and corporate policy.Headquartered in Australia, with offices in the U.S. and the U.K., EncompaaS’s international team specialises in regulated sectors, including government, financial services, and pharmaceuticals. With a 20-year heritage helping organisations manage information, risk, productivity, and compliance – and by leveraging people, process, and technology – we solve challenges that organisations face right now, without the legacy thinking. EncompaaS has been approved by Microsoft to run on Azure and is available in AppSource, the Azure Marketplace and through specialist provider Informotion. For more information, visit https://encompaas.cloud/.