Document Review for a Top 5 Investment Bank


Integreon provides a scalable, high-quality document review solution from secure facilities in Manila, Philippines and Fargo, North Dakota. Our multi-shore, multi-lingual approach has helped the client review more than 5 million documents per year, while delivering savings of up to 80%.


In the current economic climate, corporations everywhere are looking for ways to save money. This top-five global investment bank was no exception. As with many financial organizations, its ever-increasing legal spend was high and it was critical for the company to find ways to control these costs by reducing the amount of work sent to outside counsel.

As a people-driven process performed on web-based platforms, legal document review was a logical area of focus. In addition to requiring document review for a high volume of litigation, the client also had a significant amount of compliance work, including SEC inquiries, Financial Industry Regulatory Authority (FINRA) inquiries and third-party subpoenas. Outsourcing document review would shift the work from outside counsel in high-cost cities to lowercost onshore and offshore facilities.


To help the client significantly reduce its legal costs, Integreon initially set up a secured facility in Manila, Philippines, with a dedicated team of ten full-time employees (FTEs). The dedicated delivery center was built to client specifications, based on a demanding set of security and compliance requirements. Soon after, Integreon set up a similar facility in Integreon’s Fargo, North Dakota, location to deliver onshore document review services. The teams have since expanded to 40 FTEs in Manila and 11 FTEs in Fargo.

In addition to the dedicated FTE model, Integreon provides scalability through its team of project attorneys. During periods of high work flow, Integreon will add client-approved and cleared project attorneys to assist in the workload of the dedicated team. As of February 2013, Integreon has more than 75 active project attorneys in its Manila location, assisting on a variety of projects.

Integreon review attorneys provide a first-line document review on the client’s selected platform, which is then followed by quality control (QC), with outside counsel performing the second-line review. The teams work in dedicated, locked-down areas of Integreon’s facilities and inside the client’s firewall to maintain security of the company’s confidential and proprietary information.

Integreon appointed a legal account manager (LAM) in its New York office, which is in close proximity to the client’s legal and compliance headquarters. The LAM serves as the relationship manager and ensures client satisfaction with delivery of Integreon’s services. The LAM is a fully dedicated non-billable resource and is responsible for the day-to-day management of the account across multiple locations.

Unlike outside counsel, where junior associates are juggling the multi-faceted tasks of document review in addition to many other responsibilities, the Integreon team is comprised of seasoned review professionals who are solely dedicated to this one function. This structure provides for greater efficiencies and quality, as well as allowing the attorneys to become experts in the banking/ regulatory matters which are typical of an investment bank. The dedicated legal team works four overlapping shifts, across multiple time zones, providing the client with an essentially non-stop, follow-the-sun, document review process.


Outsourcing legal review and related services has enabled the client to realize significant cost savings and, thanks to the uniformity of the review process, without any increase in risk. For document review services, Integreon uses service-level agreements (SLA) to ensure an accuracy rating of 98 percent and an on-time delivery target of 98 percent, neither of which Integreon has ever failed to meet. On a standard document review project, accuracy is typically well above 98%. And as the dedicated teams build deep familiarity not only with the client’s systems and processes but also with the types of matters – for example, regulatory review of trading activity – the client benefits from continuous improvements in productivity and excellence. Integreon also works with the client’s internal business units to develop, monitor and report SLA compliance.

As a result of the client’s satisfaction with Integreon’s competencies, coupled with the cost savings, the client has imposed a mandate on their Legal & Compliance internal counsel to transition work from expensive outside counsel to Integreon. The business unit even incorporates an internal attorney’s utilization of Integreon on legal review work as part of his or her annual review process.

A recent cost analysis between outside counsel rates and Integreon rates found that Integreon offers an 80% cost savings. In a typical review of 100,000 documents, where Integreon performs 100% accuracy checks and outside counsel performs 10% quality checks, Integreon’s cost would be $100,000 whereas outside counsel’s cost would be at least $550,000.

Because of the cost savings and quality of work, the client made the decision to expand the relationship with Integreon to include business and research services. We currently have more than five dedicated teams in our Manila delivery center providing a wide variety of support services to the client, including desktop publishing, investment research and analytics, records management and contract administration. Integreon has also embedded several associates into the client’s corporate headquarters to assist with procurement and training management.

In general, Integreon’s client dedicated teams have seen an increase in work and expansion in scope, which has not only saved the client money, but has also ensured the reliable and timely delivery of quality work.