Big Law is often ripped for failing to adopt technology that would create greater efficiency in services.
But two little-noticed announcements earlier this month show a few players in the legal sphere are more than willing to jettison the traditional business model and automate services — for the right client.
This month, Allen & Overy and Axiom both announced they have developed proprietary software platforms to help banks prepare for a swath of new regulations on over-the-counter derivatives expected to take effect by 2017.
The regulations come as part of a global push by financial regulators to create new safeguards such as higher collateral requirements on uncleared ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.