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ASIC kicks off ICT reform program

by Justin Hendry •
Free resource

Topics: Software; ICT Strategy; Procurement; Data Analytics; Fed.

After more than half a decade of underinvestment in ICT, the Australian Securities and Investments Commission (ASIC) has commenced the first procurement under its $127 million reform package.

ASIC received $39.2 million in capital in the 2016-17 federal budget to improve its technology systems over three years, a portion of the $61.1 million allocated in the reform package to modernise data management systems and improve data analytics and surveillance capabilities over four years.

The first procurement to get underway is a replacement Early Case Assessment (ECA) Platform, which has been in place for five years. The current $3.4 million contract with Nuix will expire in February 2017.

A number of other sizeable contracts are also due to expire before July 2017, including ASIC’s $13.8 million market surveillance system currently supplied by First Derivatives.

The Request for Tender (RFT) seeks an electronic document review platform that has the “flexibility to change and grow, reflecting the changing business needs of ASIC” and can minimise the impact of transitioning to new infrastructure.

The platform will support ASIC’s Australia-wide Evidence Services Forensic team process and review electronic evidence, and feeds into the Ringtail Evidence Management System, which is used for civil and criminal proceedings.

It will need to be capable of ingesting data from a range of mediums as “ASIC’s electronic processing requirements range from a few gigabytes to multiple terabytes in each matter”, and enable users to connect to the platform via ASIC’s Microsoft RemoteApps production environment.

The approach to market follows the release of the ASIC Capability Review, Fit for the Future: A Capability Review of ASIC, which identified a range of infrastructure weaknesses, including a reliance on legacy infrastructure, no integrated operating platform, limited data digitisation, siloed databases, and lack of progress on big data capabilities. It also recommended the development and application of big data ‘reg-tech’ analytics.

Intermedium revealed last month that ICT contracting at ASIC had fallen by more than half over six years from $114.6 million in 2009-10 down to $55.4 million in 2014-15.

The new supplier is expected to begin providing ECA platform services prior to the expiry of the current arrangement, following a brief pilot stage.

Submissions for the RFT close 1 August 2016.

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