The Customer
Australian Securities and Investments Commission (ASIC)
ASIC is Australia’s integrated corporate, markets, financial services and consumer credit regulator.
The Challenge
Each year, ASIC investigators process vast amounts of financial data extracted from bank statements, which must be quality-checked and verified before being converted into Excel files for analysis.
Their previous software solution had become a significant bottleneck, slowing investigations and forcing investigators to manually process data, introducing unnecessary risk and inefficiencies.
ASIC sought a technological solution that would enable quick, accurate, and automated bank statement conversion leading them to procure Oscar-IDP.
The Solution
Like many organizations, ASIC had specific investigative workflows that required bespoke adaptations to Oscar-IDP’s core capabilities.
The primary objective was to deliver the fastest and most accurate extraction of data from physical bank statements into a structured digital format.
Key Features of Oscar-IDP for ASIC:
- Customizable SaaS solution – Tailored to ASIC’s investigative requirements.
- Fully scalable architecture – Handles large volumes of data efficiently.
- Seamless accuracy validation – Ensures data integrity with rigorous quality checks.
- Collaborative development – Direct engagement with ASIC practitioners to refine the system.
Oscar-IDP’s adaptability enabled seamless integration with ASIC’s existing workflows, providing a purpose-built module that continues to evolve alongside expanding investigative needs.
The Outcome
With Oscar-IDP, ASIC’s investigators now benefit from rapid, accurate data extraction, eliminating previous bottlenecks and significantly improving forensic accounting workflows.
Key Benefits:
✅ Increased Accuracy – Automated validation reduces human error.
✅ Time Savings – Investigators can focus on analysis rather than manual data entry.
✅ Cost Efficiency – Reduced internal costs and operational risks.
✅ Ongoing Innovation – Continuous enhancements tailored to investigator needs.
We continue to collaborate with ASIC’s key stakeholders to refine and expand the solution, ensuring it remains an indispensable tool in the investigations space.
Learn More
Discover how Oscar-IDP can transform your investigative workflows. Contact us today or explore our solutions on AWS Marketplace.
