Industry

Finance & banking

LawVu is a legal workspace - a connected single source of truth for in-house legal teams in financial services.

Unique problem

In-house legal departments in the finance and banking industry are known for having the highest technology budgets and usage, outside counsel spend and the largest internal teams. The banking sector is also highly regulated and frequently experiences the following issues

No central, easy method for the business to instruct the legal team
Different ways of working across numerous in-house teams (by function and geography), creating inconsistency, duplication and/or inefficiency
No centralized system of record for documents and matters
Little transparency on the progress of matters, including which team/individual has responsibility across the various tasks and matters
No effective way to manage and reduce spend across multiple external law firms
Inability to derive useful and actionable metrics from in-house team performance

Outcomes with LawVu

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Streamline legal workflow from business intake through to insights and reporting

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Easily keep on top of regulation changes and historic advice

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Get the most out of external legal spend.

Solution

Financial services companies engage LawVu to help their legal function become a connected, unified legal team. LawVu’s Legal Workspace allows you to manage in-house legal workflow, across matter management, contract lifecycle management, knowledge management, and engagement with external counsel.

LawVu acts as the system of record for these teams and provides actionable insights based on relevant in-house legal data.

Customer Story

“Having a strong partner relationship with a vendor is just as important as good software – and we have both with LawVu. ”

Andrew Hay
Head of Operations, Legal & Secretariat – Co-op

Don’t take our word for it! To see how LawVu works with successful companies in this industry, have a read of Co-op's customer story.

Their story

Customizable intake

Configure matter intake in a way that is relevant to the varied and high volume nature of financial services companies, creating efficiency by driving clarity and timeliness of instruction from the business.

Workflows

Implement customized legal workflows to streamline ways of working (e.g. checklists for different types of financing arrangements).

Matter management

Implement end-to-end matter management to create transparency over large volumes of in-house work, particularly those projects that require cross-collaboration between in-house teams (by function and/or geography).

Collaboration

Connect contracts to a wider ‘matter’ and easily access related communications and documents, for full business context. Introduce centralized e-billing and RFP management to help reduce legal spend across numerous external law firms.