By ET Bureau - June 04, 2020 2 Mins Read
Dentons, the world’s largest law firm, and eClerx Markets, a market leader in business process management for the financial markets, announce today the formation of a strategic partnership. This partnership combines Dentons’ legal expertise and global reach with eClerx’s proprietary technology and operational expertise, as well as its knowledge in AI-based document digitization and machine-learning solutions.
The result will lead to a powerful, combined end-to-end solution that meets the complex needs of document digitization, data extraction, customer outreach, document negotiation, and legal expertise in financial services.
As financial institutions continue to face an array of regulatory changes (including in relation to LIBOR discontinuance, Brexit, CSDR, and EMIR Initial Margin), the Dentons and eClerx partnership will allow clients to benefit from a full range of cost-effective legal and processing services and delivery models.
Luke Whitmore, a partner in Dentons’ UK Banking and Finance practice, said, “While law firms have historically staffed large document remediation projects exclusively with lawyers and paralegals, we recognize that it is more efficient and cost-effective to offer our clients a blended solution in which legal issues are handled by lawyers and process elements by specialist business process companies. Our partnership with eClerx will provide us with the ability to offer cutting-edge technology with a highly-skilled legal and processing overlay, and we believe that this combination will offer our clients greater efficiency at an attractive cost.”
Bhavin Patel, eClerx Markets’ Head of EMEA Sales said, “As markets continue to evolve and our clients seek innovative, end to end solutions, our partnership with Dentons creates a unique offering for regulatory remediation. By combining Dentons’ exceptional Banking and Finance legal practice with eClerx’s deep domain knowledge, processing expertise, and DocIntel platform, we have created a cost-effective and robust approach to resolve clients’ complex contract use cases and regulatory-driven remediation programs.”
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