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RenewData Saves Global Financial Institution from Massive Fines

 

CHALLENGE: Facing a federal investigation and significant potential daily fines, a global financial institution with assets of more than $334 billion needed to produce emails for certain individuals and specific dates in approximately 12 days. The company stored email files on backup tapes at each of its U.S. locations which needed to be shipped to their main headquarters for processing. The backup tapes were considered original evidence and could not leave their facility.

 

SOLUTION: The financial institution made the call to RenewData on Friday. RenewData investigated the client's needs and delivered a scope of work by Wednesday. The following Friday, RenewData dispatched a team to go onsite. RenewData's electronic evidence experts processed 122 backup tapes, equal to more than 854 million text pages, to extract the specific email files. RenewData's professionals went straight to the data without recreating the native environment of the original hardware and software used to create the emails. Utilizing its proprietary technology, RenewData delivered the needed emails to the financial institution on Tuesday, a day ahead of schedule.

 

RESULTS: The financial institution was able to deliver the email files to the federal agency in time, consequently saving their company significant daily fines. With RenewData's proprietary technology, the company also saved additional time and money as there was no need to recreate the native environment of the emails, a requirement of many competitors.
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