Top European bank Nordea to manage all deals using Litera Transact
Nordea is to manage all of its legal deals using Litera Transact in partnership with leading Norwegian law firm Arntzen de Besche. The firm is using Transact to help digitise the loan documentation process and drive down costs for Nordea, which is one of Europe’s largest banks.
Lars Bjørn Christiansen, the head of corporate advisory at Nordea, said, “Litera Transact is a huge step forward in digitalizing the loan documentation process and [is] instrumental to drive down cost, improve efficiency, and increase speed. Communicating with our counsel on deals is much easier with Litera’s transaction management solution. As a result, we attain more competitive rates from our legal advisor, which is an important contributor to winning new deals. Especially during closing, with high stress and short deadlines, Litera Transact is a solid platform that ensures an efficient document process. We are encouraging the use of Litera Transact to promote more efficiency across all of our deals.”
Arntzen de Besche reports that their teams are working with greater transparency and can deliver higher-quality customer service. Trond Kildal, a partner in Arntzen de Besche’s banking and finance department, said, “Everyone has a clear picture into the status of the deals we’re managing, we’re saving a lot of time, and our clients are appreciative of our commitment to deliver innovate legal services.”
Litera Transact is using the platform acquired from Doxly, which was founded and sold to Litera by founder Haley Altman last year.
For the case study on Arntzen de Besche and Nordea visit: https://www.litera.com/arntzen-de-besche-and-nordea-bank-win-more-business-with-litera-transact/