Modernising Information Governance and Compliance with Microsoft Purview | Large Australian Financial Institution Case Study

Customer overview

This case study profiles a prominent Australian-based financial institution with a global operational footprint. With services spanning asset management, investment banking, wealth advisory, and retail lending, the institution operates in more than 90 jurisdictions and employs over 20,000 staff.

Widely regarded for its progressive approach to financial services and digital innovation, the organisation has continually advanced its data governance, compliance, and risk capabilities. This evolution is a direct response to growing regulatory complexity and the demands of rapid digital transformation.

Operating within a highly regulated global environment, the institution maintains a strong focus on compliance, operational resilience, and information security.

Before Microsoft Purview: A complex environment with escalating risk

The catalyst for modernising information governance and strengthening data security was the emergence of significant data breaches across the Australian market. High-profile incidents, including those involving Optus and Medibank, highlighted the escalating risks.

These breaches underscored the real and immediate risks associated with poor data management. Leadership within the institution recognised the potential impact of a similar event, from regulatory penalties and operational disruption to reputational damage and loss of customer trust.

This recognition prompted a strategic reassessment of the institution’s data governance framework.

At the time, the institution faced considerable challenges in managing its growing and fragmented data environment. Information resided across legacy systems, shared drives, paper archives, and third-party platforms. Governance processes varied by department, and responsibility for compliance and records management was inconsistently applied.

Departments were often unclear on what needed to be retained or disposed of. Many defaulted to the most risk-averse measure. The result was content sprawl, increased operational costs, and poor visibility into compliance risks.

Audits and legal discovery processes were time-consuming and labour-intensive. Manual procedures and inconsistent recordkeeping practices often hampered responses. Incomplete responses posed real reputational and legal risks — particularly problematic given the institution’s global regulatory obligations.

Outdated retention policies and legacy governance tools were ill-suited to meet modern compliance standards. The complexity was heightened by evolving regulatory frameworks such as APRA CPS 234, CPS 230, ASIC’s breach reporting reforms, GDPR’s breach notification obligations, and the SEC’s stringent electronic recordkeeping rules. Similarly strict guidelines enforced across the United States, Europe, and Asia also increased compliance demands, driving a global shift toward stronger requirements for data retention, breach reporting, information security, and operational resilience.

It became increasingly clear that managing these requirements with disconnected systems and manual processes would not be sustainable in the long term.

Modernising governance with Microsoft Purview

Prior to selecting Microsoft Purview for modern information governance and records management, the institution evaluated several alternative platforms. These included OpenText Content Manager and RecordPoint.

While these solutions offered traditional records management functionality, they also introduced considerable complexity. Many required content to be migrated or duplicated into dedicated repositories external to the Microsoft 365 environment. This approach disrupted user workflows, created friction around adoption, and complicated the management of information lifecycles.

Additionally, reliance on third-party systems increased operational costs, introduced challenges in maintaining metadata integrity, and heightened security risks associated with moving sensitive information between platforms. Version control became more difficult, and the burden of maintaining multiple governance environments undermined efficiency.

In contrast, Microsoft Purview provided a unified, in-place governance model that allowed classification, retention, and compliance policies to be applied directly to content within Microsoft 365. This approach significantly reduced complexity, strengthened information security, improved user experience, and aligned with the institution’s broader strategic objectives around digital transformation and regulatory compliance.

The institution opted for Microsoft Purview as part of a broader effort to consolidate governance within the Microsoft 365 ecosystem. Purview’s in-place governance model allowed records, retention, classification, and compliance controls to be applied directly to content without duplication or disruption.

Email governance was one of the first areas addressed. Microsoft Purview enabled native, policy-based retention for Exchange Online, eliminating the need for third-party journaling solutions and enhancing both compliance and user transparency.

Though the functional benefits of Microsoft Purview were clear, internal discussions on Microsoft 365 licensing were required. The organisation debated whether to remain on Microsoft 365 E3 with selected compliance add-ons or adopt the full Microsoft 365 E5 licensing suite.

Ultimately, the E5 plan offered a more strategic and cost-effective path. Volume-based licensing discounts made the broader capabilities of E5 commercially viable, while also simplifying governance across the institution.

Microsoft Purview aligned with the institution’s objectives to streamline compliance, strengthen security, and embed modern data governance into everyday business processes.

A phased, enterprise-wide rollout

The implementation of Microsoft Purview followed a structured rollout plan.

In 2021, the institution introduced Microsoft Information Protection, launching foundational controls around classification and labelling.

In 2022, retention policies and labels were developed in alignment with a centralised records schedule designed to accommodate international compliance requirements. Automation was used to ensure consistent policy application while minimising manual effort.

By 2023, a formal training and accountability program was deployed. Working with external consultants, the internal platform team developed targeted training resources tailored to the needs of different business functions. Training delivery was staged and iterative, ensuring that each department progressed at a manageable pace while maintaining alignment with enterprise governance standards.

A federated governance model allowed departments to assume ownership of Microsoft Purview implementation while receiving oversight and support from a central team. This approach fostered both flexibility and consistency.

“Microsoft Purview has become our baseline for secure, scalable, and defensible information governance. It’s fully embedded in how we operate.”

Training and cultural engagement

The Microsoft 365 platform team led the change management program, supported by governance experts who provided subject-specific training to legal, risk, operations, and IT stakeholders.

Training was modular and role-based, covering topics such as records classification, retention policies, audit tracking, and insider risk scenarios. Additional resources included self-paced guides, reference documentation, instructional videos, and a dedicated internal support channel.

Staff were encouraged to treat governance as a shared responsibility embedded within standard workflows. Automation managed the majority of compliance actions, enabling users to focus on operational priorities without compromising governance standards.

“Our departments now understand their records responsibilities. Purview let us put governance in place without changing how people work.”

What’s next

• Extending Insider Risk Management capabilities to additional business units
• Advancing Data Security Posture Management (DSPM) initiatives
• Strengthening AI governance frameworks in preparation for Microsoft Copilot enablement
• Finalising full migration from legacy systems to the Microsoft 365 and Microsoft Purview platform

Interested in learning how Microsoft Purview can support your compliance and risk management goals? We’re here to help. Contact us here