Technology is evolving rapidly, so it can be difficult to keep up with the ever-changing landscape. Fortunately, the remediation process helps to alleviate some of these problems by ensuring that your data remains compliant and up-to-date. Remediation enables easy and efficient recognition of historical, large-scale archives with a recognition rate of over 99%.
In this blog, we’ll be taking a closer look at one component of remediation – eDiscovery – and how it can be used to streamline KYC (Know Your Customer) and AML (Anti Money Laundering) processes. eDiscovery plays an essential role in identifying, collecting, and producing electronically stored information (ESI) in response to litigation requests. We’ll dive into its definition, application functionalities, significance, and highlight why it’s crucial to understand this process in today’s digital landscape.
Hyarchis’ eDiscovery is an AI-based information management application. It makes document archives searchable. All data, regardless of file type, structure, age or content, is accurately recorded and neatly organized. With eDiscovery, the focus shifts from document management to data management.
The Hyarchis eDiscovery application gives financial institutions full control over their archive and enables them to extract valuable information from their customer data. Whether you want to clear backlogs, map your entire archive or understand your data better, eDiscovery can do it all.
What are the benefits of eDiscovery?
Hyarchis eDiscovery is an advanced solution that can revolutionize the way you handle your customer data. Let’s take a look at the main benefits of Hyarchis eDiscovery:
- Static documents become a rich source of data. eDiscovery turns static documents into active data sources. This way you can unlock valuable insights.
- It offers 95% accuracy in data recognition. You can rest assured that the results you get with eDiscovery are reliable and complete. This is crucial when it comes to sensitive information or when you make important decisions based on that data.
- Google search. With Hyarchis eDiscovery you can search your entire archive as if you were using Google.
- And it’s safe. eDiscovery complies with ISO 27001, ISO 27018 and SOC 2 Type 2 security standards, ensuring that sensitive information is always properly protected.
What can you use eDiscovery for?
eDiscovery is an essential tool for organizations to manage their digital records and comply with laws and regulations. eDiscovery helps financial institutions monitor transactions and identify suspicious activity. In addition, eDiscovery can be used by organizations to identify data that is no longer needed so that it can be disposed of in accordance with GDPR requirements.
The Hyarchis eDiscovery feature can help with this. Here are the ways eDiscovery can benefit your organization:
How does eDiscovery work?
Hyarchis eDiscovery adds an invisible text layer to your documents, enabling automatic reading of data while keeping the original archive intact. With 98% accuracy, eDiscovery gives you complete control over your customer data. You can access that data in ways that were impossible until now. The best part is that it is automated, making it easy to regain control of your data.
eDiscovery uses AI-powered OCR, or optical character recognition, to make any text-based document fully searchable. Whether it’s typed, scanned, or photographed, if there’s text, eDiscovery can read it. And with the ability to search by keyword, you’ll find what you’re looking for in seconds.
Say goodbye to the hassle of manually sifting through piles of documents – eDiscovery does the work for you.
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