Continental Europe News
Top Norwegian law firm Arntzen de Besche, and Nordea, one of Europe’s largest banks, are leveraging Litera Transact to transform the tedious, time-intensive manual processes associated with managing transactions into a streamlined workflow.
With Litera Transact, Arntzen de Besche is now providing greater efficiency and transparency in the deal process, allowing them to reduce fees and help Nordea lock in more competitive rates. This has directly resulted in both the firm and bank winning more business.
Lars Bjørn Christiansen, the head of corporate advisory at Nordea, said, “Litera Transact is a huge step forward in digitalizing the loan documentation process and [is] instrumental to drive down cost, improve efficiency, and increase speed. Communicating with our counsel on deals is much easier with Litera’s transaction management solution. As a result, we attain more competitive rates from our legal advisor, which is an important contributor to winning new deals. Especially during closing, with high stress and short deadlines, Litera Transact is a solid platform that ensures an efficient document process. We are encouraging the use of Litera Transact to promote more efficiency across all of our deals.
Nearly eliminating the need for regular status updates, Arntzen de Besche reports that their teams are working with greater transparency and can deliver higher-quality customer service. Trond Kildal, a partner in Arntzen de Besche’s banking and finance department, said, “Everyone has a clear picture into the status of the deals we’re managing, we’re saving a lot of time, and our clients are appreciative of our commitment to deliver innovate legal services.”
Avaneesh Marwaha, Litera CEO, said, "Arntzen de Besch and Nordea’s use of Litera Transact is a perfect example of how we can offer a competitive advantage to law firms and their clients. We cover more practice areas, our digital signature capabilities are stronger with our integration with DocuSign, and our global presence allows us to innovate and develop features faster than anyone else in the space.”
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