Continental Europe News
Sysero, provider of legal automation solutions, today announced that COBALT, one of the largest law firm in the Baltic market, with offices in Estonia, Latvia, Lithuania and Belarus, has selected Sysero’s Know Your Client and Document Automation solutions to streamline client inception and drive greater productivity for its lawyers.
COBALT is implementing Sysero’s cloud-based Document Automation technology to ease the workload of the firm’s lawyers by turning frequently-used documents into reusable templates that can be shared across the firm. Lawyers can easily automate documents and manage templates directly from within Microsoft Word, bringing enhanced efficiency to day-to-day transactional work.
While the firm was evaluating Sysero’s Document Automation solution, it realised an opportunity to employ the same technology to transform its client intake process. Compliance with Anti-Money Laundering regulations (AML), Know your Customer (KYC) and sanctions requirements continues to be a key focus for the modern law firm, and firms must ensure they are following appropriate compliance procedures.
COBALT will use Sysero to automate their current Know Your Client processes to standardise the firm’s business inception process and subsequently reduce associated risk. The new intake workflow will include predefined metrics to evaluate new business opportunities based on a predefined set of rules determined by the firm’s priorities, including local and EU AML regulations. A risk profile will be created for each new client, allowing the firm to escalate high-risk clients for further review.
“We’re pleased to recognise COBALT as the latest firm to benefit from Sysero’s fully integrated automation tools,” explained Phil Ayton, Director, Sysero. “In the past several months, this list has also included other leading firms, such as Wikborg Rein. We’re seeing an increasing number of firms looking to streamline their internal processes, and our solutions have been able to fulfil their requirements and more.”
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