Australasia News
Naqiz & Partners has adopted Luminance’s artificial intelligence technology to assist with M&A due diligence at the corporate law firm. The announcement marks the first Malaysian customer to deploy ‘Luminance Diligence’.
As a full-service corporate law firm that works on cross-border transactions, Naqiz & Partners were looking for an advanced tool to speed up and streamline the contract review processes in complex, multi-lingual deals. The firm will use Luminance Diligence to sort, cluster and classify large volumes of legal documents enabling their lawyers to work more efficiently and to handle a larger volume of work.
“Using Luminance, we are able to significantly reduce the time spent manually reviewing contracts, assigning work and monitoring progress,” said Khairul Ismail, Managing Partner of Naqiz & Partners. “We anticipate that the technology will give our lawyers more time to spend on the analytical thinking that our clients value so highly, helping us to retain our position as a market leader in the Malaysian legal market.”
“Over the past two years, we have seen significant adoption rates in the APAC region and we’re excited to welcome Naqiz & Partners as our first Malaysian customer,” added Emily Foges, Luminance CEO.
Luminance harnesses the latest advances in machine learning and pattern recognition technology, developed at the University of Cambridge, to improve the efficiency of processes such as due diligence, compliance reviews, e-discovery and contract management. The platform ensures that the lawyer remains at the heart of every process, meaning substantial time-savings from day one, whilst ensuring legal teams have more control and confidence than ever before.
Luminance has over 115 customers across 39 countries since launching two years ago, including 13 of The Global 100 law firms and three of the ‘Big Four’ accountancy firms. The company’s Diligence product is in use by some of the world’s leading corporate law firms, such as Holland & Knight, Bird & Bird and Wong Partnership.
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