This Tuesday’s Luminance client win news comes in the shape of Finnish law firm Castrén & Snellman which has adopted the UK company’s AI technology to enhance its due diligence processes for real estate, employment and M&A transactions.
Castrén & Snellman selected Luminance after a competitive bid and two-week pilot of the technology using both English and Finnish documents, said the company.
The firm was attracted to Luminance’s technology, holistic platform and time-saving potential, they added.
In the two previous weeks the company has added Portugal’s MLGTS and Israel’s Tadmor Levy. And it would appear that Luminance has continued its strategy of bagging leading ‘independent’ law firms around the world.
Paula Aura, Knowledge Manager at Castrén & Snellman said: ‘Luminance will be used for M&A due diligence and real estate transaction deals, as well as to support employment reviews. We have started to teach the technology to identify legal provisions in Finnish and can already see the advantages: time-saving in document review work and producing automated reports for real estate transactions, for example.’
‘Luminance allows us to work with significantly more context, giving us insight into the entire transaction and allowing us to prepare much earlier for any unusual findings during the due diligence process,’ she added.
Emily Foges, CEO of Luminance, concluded: ‘We are thrilled to welcome Castrén & Snellman to our growing portfolio of Nordic law firms.’
[ Photo credit, RT. Pic of Helsinki harbour, Finland, taken March, 2018. ]