KordaMentha launches secure, scalable digital platform to enhance class actions management.
KordaMentha has leveraged its restructuring experience and involvement in some of Australia's largest and most high-profile class actions, launching its own software platform, EnterClaim, to streamline the management of class actions.
EnterClaim is a secure and scalable digital class action administration platform that streamlines the collection, validation and processing of claims.
KordaMentha's strong heritage of restructuring, technology and forensic analysis provided the key insights that inspired EnterClaim's development. The platform offers a robust class action distribution solution that can be deployed as a standalone product or used alongside KordaMentha's experts, offering a complete solution to managing complex class actions.
KordaMentha Restructuring Partner, Andrew Knight, said the development of EnterClaim stemmed from the firm's long experience of organising mass distributions to creditors in large-scale restructures, administrations and liquidations.
"As registered liquidators, we are the trustees of other people's money. Acting as external administrators of Australia's largest corporate insolvencies over the last 20 years, we have been responsible for some of the largest distributions to creditors."
"We saw an opportunity to streamline the planning, process and costs of claims management and distribution. With the development of EnterClaim, we have built a completely scalable software platform to improve efficiencies of managing class actions." KordaMentha Partner and CIO, Ryan Wadsworth, said the efficiencies of EnterClaim ensure the best outcomes for claimants.
"Traditionally, while running large external administrations, there are large numbers of creditor claims and related distributions - a process that overlaps with managing class actions."
"EnterClaim uses technology and verification to determine who has applied and who is eligible with the necessary evidence, ensuring the correct individuals are receiving the distribution while protecting their private data."
KordaMentha Forensic Partner, Anh Nguyen, commented, "The forensic team has extensive experience in all stages of the class action lifecycle, producing quantification models to determine potential damages for lead applicants and class members."
"As well as ensuring a straightforward process for claimants, EnterClaim helps to provide a more efficient process from data capture to distribution." Competing class actions, rising concern over costs and increasingly complex claims mean class action applications need secure data capture, certified privacy and transparent analysis.
Class actions need to be managed efficiently at scale at all stages - a challenge for some systems that may be reasonably efficient for class actions involving small numbers of claimants but incapable of handling claimant numbers into the tens or hundreds of thousands, or millions.
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