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Allen & Overy's Banking practice adopts Legatics technology after successful collaboration in Fuse

 

LONDON – Allen & Overy’s global Banking practice has embraced a new technology from Legatics following a successful trial period.

Banking lawyers across the international legal practice have access to the tech platform’s automated conditions precedent (CP), bible creation and issue tracking processes, saving time and cost, and enabling them to spend their time on higher value, strategic legal work.

Legatics is an intelligent deal platform designed for use on large scale transactions. In particular, its conditions precedent module will be useful for A&O lawyers acting on transactions with significant numbers of CPs. The system gives all transaction parties, including A&O banking clients, live visibility as to the progress of legal processes on their matter.

Founded by a former lawyer, Anthony Seale, Legatics is part of the first cohort of tech companies to work in Fuse, an innovation space where tech companies collaborate with Allen & Overy and its clients to explore, develop and test tech-enabled solutions.

David Campbell, Banking partner at Allen & Overy in London, commented: “Following a long period of collaboration with Legatics, we are very happy to introduce the system for use throughout the Banking practice worldwide. It’s already getting very positive feedback from clients, saving time for our lawyers and making a significant difference to the way they support clients on deals. This is just one of the tech solutions coming over the horizon to streamline the way we work, and another success story to come out of Fuse.”

Daniel Porus, Head of Business Development at Legatics, added: “Being able to work so closely with A&O’s banking lawyers has been invaluable. They have helped us shape the product and we’re really excited that our technology will now form part of their daily practice, increasing efficiency and enhancing their clients’ experience.”

Fuse is currently accepting applications from both early stage and more mature companies to join its second cohort. Applications close on 16 February and a pitch day will take place in March, before successful companies move into the space in April 2018.

For further information visit: www.allenovery.com/advanceddelivery/fuse and to access the application form, please visit: https://www.f6s.com/fusebyallenovery2018/apply

For media enquiries, please contact Rebecca Hooper, rebecca.hooper@allenovery.com, on +44 (0)20 3088 2152.

 

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