Linklaters has won Legal Technology Team of the Year at the Legal Business Awards 2017. The award recognised Linklaters’ response to new bank ringfencing legislation, which saw the magic circle firm develop its own proprietary tool, LinkRFI. Formerly known as Verifi, the software can sift through 14 UK and European regulatory registers to check client names for banks and process thousands of names overnight. It would take on average 12 minutes to search each customer name manually.
The other firms shortlisted were Addleshaw Goddard, Mishcon de Reya, Riverview Law, Simmons & Simmons and Taylor Wessing.