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Case Study
Company BackgroundABN AMRO is one of the most important
international banking groups, ranking 11th in Europe
and 20th in the world. The company was formed in 1990, following
a merger of the two
largest publicly quoted banks in the Netherlands, ABN and AMRO
Bank. Today the ABN AMRO
group comprises over 3000 branches in more than 60 countries
with total assets of EUR
623,8 billion. The bank's global strategic business units are
consumer and commercial clients,
wholesale and private clients and asset management. The company
is listed on several stock
exchanges, including the London Stock Exchange, the New York
Stock Exchange and the
Euronext.
The NeedToday's banking industry faces ever-tougher standards
for financial transparency and
compliance. Adhering to these requirements is a major challenge
for organizations, especially
since many financial companies are geographically dispersed and
compliance standards differ
for every region. ABN AMRO is no exception to this rule. Being a
multi-national company and
employing over 400 lawyers and compliance officers, the banking
group needed a solution that
would allow its employees all over the world to access and share
vital compliance information,
across different time zones and language barriers in real- time.
Moreover, as laws and
regulations are not static and subject to frequent change a
system had to be found that would
alert staff to critical new developments and provide automatic
updates.
However, it was not enough to simply offer ABN AMRO's employees
a pool of information at
their fingertips. Often, members of the organization would not
actually be aware that they
should be searching for content on a certain subject or know how
to access it. Hence, ABN
AMRO needed a system that could recognize conceptual links
between pieces of information,
make staff automatically aware of related compliance issues and
deliver information while they
were working on a certain case or business project.
Moreover, the company also wanted to invest in a technology that
would be capable of fulfilling
regulatory requirements for monitoring the overwhelming volume
of electronic communications
generated in disparate forms such as email, voice and Instant
Messaging.
ABN Amro
ABN AMRO
OrganizationABN AMRO
www.abnamro.com
IndustryBanking & Finance
Type of ApplicationGlobal Compliance Platform
FunctionalityAgents
Alerting
Categorization
Collaboration & Expertise Networks,
Channels
Clustering
Hyperlinking
ExtrasDish Dashboard
Failover
LanguageEnglish
ABNs Gallileo delivers personalized content automatically to
users' accounts.
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The SolutionABN's approach was to deploy an integrated global
compliance platform, named Galileo, that
would provide an expertise network for its lawyers and
compliance officers, and supply them
with the most relevant internal and external information assets.
ABN chose Autonomy's powerful
IDOL server technology to realize this project. Unlike many
other solutions on the market, IDOL
could automatically aggregate information from the bank's
internal sources and the databases of
external law firms in real-time and make it easily accessible on
one single interface.
Through the software's ability to learn and understand
information as it grows and changes, in
combination with its automatic alerting features, Autonomy's
technology could keep ABN
AMRO's staff continuously informed of the latest available news
and compliance updates,
without disrupting their natural workflow. In addition to that,
the software offered the bank the
facility to identify experts within the group and build
collaboration and expertise networks.
Individuals could now easily recognize other employees in the
community that were working on
similar cases, whether they were located in Amsterdam or New
York, and effortlessly share their
knowledge and expertise.
The BenefitsABN's Project Galileo takes a fundamental approach
to real time governance operations, at a
time when revised compliance regulations are forcibly reminding
the Boards of all listed
companies of their responsibilities and their accountability for
the accuracy of public reporting.
Many organisations have chosen to address these requirements by
simply deploying piecemeal
technology. However, whereas these partial, on-the-spot
solutions may provide some minor
benefits in the short-term, in the long run they can only serve
to fragment the people and
communities whose close cooperation is vital in order to achieve
greater transparency.
Autonomy's integrated solution enables ABN AMRO to make
pertinent information available and
to identify experts within the group rapidly, avoiding potential
risks associated with the use of
outdated information, breaking up information silos, eradicating
the duplication of efforts and
increasing productivity.
On a different but equally important level, in the future
Aungate offers the banking group the
best possible solution to consistently monitor and react to the
flow of communications within
the organization, evading the dangers of undetected conflicts,
fraud and the misuse of
information.
As David Kemp from ABN AMRO said, For lawyers or compliance
officers the real benefits
of the Autonomy solution are that it can provide focused
information on specific subjects
they are interested in. It does not only send them news, it
sends them precedents,
updates and even more importantly, it puts them in touch with
experts around the globe.
In this way, Aungate allows us to transfer knowledge freely, get
people out of silos and
make information available fast, dramatically maximizing
efficiency in our company.
Case StudyABN Amro
Technical Information
Platform
Linux & Windows NTContent Aggregated
Oracle
Filesystem
Documentum
Autonomy Inc.
One Market, Spear Tower, 19th Floor,San Francisco, CA 94105,
USTel: +1 415 243 9955Fax: +1 415 243 9984Email:
[email protected]
Autonomy Systems Ltd
Cambridge Business Park,Cowley Rd, Cambridge CB4 0WZ, UK Tel:
+44 (0) 1223 448 000Fax: +44 (0) 1223 448 001Email:
[email protected]
Other Offices
Autonomy has additional offices in Boston,New York and
Washington DC, as well as inAmsterdam, Beijing, Brussels, Hamburg,
London,Madrid, Milan, Munich, Oslo, Paris, Rome,Singapore,
Stockholm and Sydney and Taipei.
www.autonomy.comCopyright 2005 Autonomy Corp. All rights
reserved. Other trademarks are registered trademarks and the
properties of their respective owners.Product specifications and
features are subject to change without notice. Use of Autonomy
software is under license.
[AUT ABN CS] 05.05.2005
For lawyers or complianceofficers the real benefits of the
Autonomy solution are that it can provide focused information on
specific subjects they are interested in. It does not only send
themnews, it sends them precedents, updates and evenmore
importantly, it putsthem in touch with experts
around the globe. David Kemp, ABN AMRO
