The June 2018 issue of the Orange Rag – the Legal IT Insider newsletter – is out now – read it here free!
Top stories in the latest Insider newsletter include: Gateley select LexisOne + The Law Society moves to Office 365 & Azure cloud + Duncan Eadie joins Charles Russell Speechlys
Exclusively in the Orange Rag, out this morning (27 June)…
LexisNexis’ director of solutions Nigel Rea has joined LOD (Lawyers on Demand) we can reveal, helping the flexible legal services adviser to develop its growing projects-based managed solutions business.
Mishcon de Reya has joined the ranks of law firms with high-level in-house data science capability, hiring UCL computer scientist Alastair Moore as head of analytics and machine learning.
The third edition of the Thomson Reuters Legal Tracker Legal Department Operations (LDO) Index was published yesterday (25 June), revealing a continuing ‘more for less’ agenda among US corporate legal departments, with document management and contract lifecycle management on top of the list of solutions they are seeking to buy and diversity barely registering in the outside counsel selection process.
Congratulations to Ashley Bolender, who has taken on the role of director of legal operations at GE, responsible for overseeing outside counsel management, technology strategy development, contract and knowledge management, and operational support for the broader legal function.
Legal IT Insider has been working with industry security experts including Accenture as well as a number of CIOs in order to develop and now soft launch CyLok, an interactive tool that allows contributing firms from across all segments of the market to compare their security setup against industry benchmarks and understand their CyLok cyber-security rating. Our research is on-going and we plan to release a regular report on the benchmark and LITI CyLok Index, with comments from key experts. Here’s how you can get involved.
Barclays will be scoring its law firms on their innovation and technology offering as part of its last ever panel review next month, with group general counsel Bob Hoyt actively involved in driving the bank’s strategy on legal technology.
In a huge vote of confidence in Seal Software’s technology, existing investor Toba Capital has extended its investment in the contract discovery provider by a further $30m as Seal unveils a global partnership with DocuSign in which Seal’s software will underpin a cradle-to-grave automated platform for agreements to be prepared, signed, enacted and managed.
Barclays last night (19 June) formally launched its Eagle Lab legal tech incubator in partnership with The Law Society, which at its core is an attempt to help the legal sector catch up with its fintech peers and “turbo-charge London’s law-tech ecosystem.”
The days of law firms needing to be reminded of the importance of investing in appropriate cybersecurity solutions or how much of a target they are have long gone, but how much is ‘enough’ when the risks are sky high, but the budget is finite? Legal IT Insider hosted a roundtable with Accenture – including global head of security Kelly Bissell – to look at best practice and start the ball rolling on our industry cyber benchmark.
Epiq has bolstered its settlement and bankruptcy capability with the acquisition of Garden City Group (GCG) from claims management solutions provider Crawford & Company. GCG provides legal administration services for class action, bankruptcy, mass tort, regulatory matters, and legal notice programs.
Mobile-only bank, Monzo, has selected Apperio’s legal spend management and analytics SaaS platform to help it track and analyse legal spend across all law firms, in real-time, in one place.
Tessian (formerly CheckRecipient) is going from strength to strength and today (18 June) announces that it has raised $13 million (£9 million) in a Series A round led by Balderton Capital and existing investors, Accel. Amadeus Capital Partners, Crane, LocalGlobe, Winton Ventures and Walking Ventures also participated in the round.
It’s been a busy week in legal tech almost certainly capped by the news on Friday (15 June) that DWF may shortly become the largest law firm to float on the London Stock Market to help increase its investment in technology and connected services. There’s was news of a litigation decision engine launched out of a partnership between Weightmans, Kira Systems and the University of Liverpool; an enormous £13m cash injection from Goldman Sachs and Temasek for Eigen Technologies; and U.S. law firm Gordon, Arata, Montgomery, Barnett, McCollam, Duplantis & Eagan became the first to go live on 3E in the Cloud, to name but a few of the latest wins and deals rounded up here.
In line with its strategy of ‘doing things differently’ and in order to help increase its investment in technology and connected services, DWF may shortly become the largest law firm to float on the London Stock Market with a valuation of up to £1bn, The Times reports today (15 June) and the UK top 25 law firm has confirmed in a statement.
The Law Society of England and Wales today (14 June) launched a public policy commission review of the impact of technology and data on human rights and justice. According to new Law Society vice president and commissioner Christina Blacklaws, the review will examine issues of unconscious bias, ethics and rights, as well as what kind of oversight is required and what the financial and social cost could be if algorithms are skewed. The commission will initially look at the use of AI in legal practice and in society, by the police and prison services.
Odi-sé Avocats first French independent to select Workshare Transact as transaction management booms
It’s not sexy legal tech and may not contain one mention of AI but online transaction management is one space where you can expect some major law firms wins shortly, and later today Workshare will announce that Odi-sé Avocats Aviation Finance has become the first independent French law firm to adopt Workshare Transact.
Peppermint Technology has rolled out two-way integration with InfoTrack, which it estimates could reduce the time it takes to complete a conveyancing matter by 30%.
In a major win for HighQ, Dentons, the world’s largest law firm, is adopting the London-headquartered company’s intelligent work platform to enhance the way it engages clients and transform its delivery of legal services around the globe.
National law firm Weightmans has partnered with the University of Liverpool and software company Kira Systems to develop an artificial intelligence (AI) solution capable of extracting data to power a decision engine that will carry out legal reasoning. The solution can identify arguments for settling cases and speeds up decision making by combining the metadata extraction capabilities of Kira with a legal decision engine created jointly by experts at University of Liverpool and Weightmans.
Aderant will later today (12 June) formally announce the release of Handshake Connect, an ‘out-of-the-box’ legal intranet portal that it says provides fast and easy deployment, with minimal customization required.
Eigen Technologies, which automates the classification and extraction of data from documents for finance, law, and professional services firms, today (11 June) announced that it has completed a £13m ($17.5m) Series A funding round co-led by Goldman Sachs Principal Strategic Investments (PSI) and Temasek.