Deloitte on Tuesday announced the expansion of its strategic alliance with cloud-based firm Relativity to aid quicker and flexible resolution to investigations, litigations and regulatory compliance. Through the adoption of the RelativityOne platform, the e-discovery process will enable the identification of frauds faster than any other traditional platform, Deloitte said in a statement.
The alliance enables Deloitte to leverage Relativity’s flexible and secure Software as a Service (SaaS) product as a foundation for clients’ e-discovery to quickly detect non-compliant behaviour as well as in the preservation of critical data pertinent in a fast pervasive digital business world.
“Through RelativityOne’s scalability and cutting-edge technology, we will help organisations to draw insight-driven strategies by demystifying the complexity and volume issues of data. The e-discovery solution will help in attaining full control over the data securely and uncover key facts to respond to multinational litigation, investigation, arbitration, and regulatory compliance matters,” said Jayant Saran, Partner, Financial Advisory, DTTILLP.
With this, multinational corporations, government agencies, and law firms in India can minimise risks in their internal investigations, cross-border investigations, complex disputes and streamline large unstructured data, risk-mitigation compliance activities, and regulatory proceedings in India, the statement said.
Conducted by a team of over 70 forensic subject matter experts, the deployment of RelativityOne will enable them to solve data challenges and improve accuracy and efficiency for clients through customised solutions. In India, DTTILLP will exclusively control clients’ data in-country and innovate faster with a flexible and extensible cloud platform.
Deloitte, with RelativityOne, will be able to offer clients a new way to transition to the cloud, which could benefit teams involved in multinational litigation, investigations, both cross-border and internal, regulatory compliance, and other matters to take action quickly, the statement added.
In the financial year 2021, the Reserve Bank of India (RBI) reported bank frauds amounting to 1.38 trillion Indian rupees. There has been a significant surge in financial frauds during the pandemic with newer destructive and sophisticated threats being launched daily.