Efficiencies through machine learning

An international insurer required a review of their product disclosure statements (PDSs) portfolio for the Unfair Contracts Terms regime in less than 18 months. A machine learning (ML) solution, analysed, pattern mapped, processed and spotted anomalies in over 315,000 clauses in minutes. The solution eliminated over 850 hours of data processing, reduced costs and errors.

Speed, accuracy and reputation

A large multi-national property, infrastructure and construction firm's remediation project involved reviewing over 1,000 lots in six months to determine whether residents were eligible for compensation (i.e. payout of buyback). Speed, accuracy, multiple stakeholder management were paramount. We assisted with the operationalisation of the scheme by designing and supporting the delivery of the program, including working with the legal team to complete Settlement Deeds. This freed up the client's staff to spend time more time with clients and stakeholders.

Forecasting IT risk in financial services acquisition

A global investment bank undertaking a potential acquisition of a large government agency required technology due diligence services. We delivered a 35-year forecast of IT-related expenses and a detailed profile of IT risk for consideration.

Market insights for supply chain savings

The leadership of an Australian bank requested market insights into the pricing of all outsourced BPO services before renewing key multi-year contracts. The scope considered multiple suppliers, global delivery locations and service lines, including commercial banking, fund administration and insurance divisions of the bank, over an annualised spend of ~$500M. MinterEllison Consulting identified 12% in annualised savings and further opportunities to optimise volumes and service specifications.

Addressing risk culture

A highly regulated institution identified risk management cultural issues within its organisation, increasing its exposure to regulatory intervention. MinterEllison Consulting conducted a risk culture assessment for the institution. We then developed and implemented a risk culture strategy to address the cultural issues. The Regulator acknowledged these initiatives, noting that the Board and leadership were seriously addressing past issues and improving the institution's risk culture.