EY Virtual Analytics Infrastructure (EY Virtual) is a microservices-based AI and forensic data analytics platform available via cloud or on premises. It supports risk management and investigative activities by providing actionable insights within a secure, efficient and scalable technology environment.
EY Virtual offers the ability to consolidate a wide range of data sources with multiple deployment and data-hosting options. It has the capacity to integrate with legacy systems and new technologies alike. With EY Virtual, an organization gains a unified data and technology platform to serve enterprise-wide compliance and investigative needs, thus acquiring the benefit of an integrated enterprise risk management function.
Summary of EY Virtual Benefits
- Pre-developed algorithms and applications to serve a wide range of sector-specific risk management needs
- Robotic Process Automation (RPA) bots that automate routine and rules-based tasks
- Robust front-office case management and reporting capabilities
- Efficient back-office support via innovative workflow designs and automation technologies
- Seamless integration with many commonly used ERP platforms, case management tools and data management applications
- Multiple deployment and data hosting options
- Segregated development space and secure cloud deployment
- Using data anonymization technologies coupled with innovative workflow designs to help manage compliance risks in cross-border data transfer
- Emphasis on privacy compliance in how data is sourced, analyzed and presented
- Supporting phased implementation for better cost visibility and control
- Modular design to increase the reusability of intellectual properties, thus saving development time and costs
Robotic Process Automation
Robotic Process Automation (RPA) technologies are embedded in EY Virtual. EY teams have developed bots within EY Virtual to automate routine and rules-based tasks. These bots free up humans from routine activities so the legal and compliance functions can focus their budget and resources on value-added activities.
EY Virtual Application Ecosystem
EY Virtual will eventually serve as the foundation and engine for all of EY forensic data analytics-related offerings. It also has built-in analytics algorithms and applications that can be accessed by EY analytics professionals and clients. The modular design approach offers flexibility and interoperability during implementation.
Example application areas include:
- Legal and Compliance Response: facilitating speed and accuracy in large-scale regulatory inquiries and investigations
- Odyssey Integrated Trader Surveillance: near real-time monitoring to identify market misconduct from structured and unstructured data sources
- Integrated Banker Surveillance: front-line conduct risk identification, remediation and near real-time monitoring (e.g., trader surveillance, sales practices compliance)
- Digital Loss Prevention: proactive, automated continuous monitoring to help manage employee theft risks