With Future Lawyer Week UK 5.0 right around the corner, it’s time to refresh your legal technology knowledge! We have selected 5 hot topics that you may have missed since the start of the new year.
Want to receive an ‘IRL’ legal technology update? Check out the end of this post for details on how to join Cosmonauts at Future Lawyer Week UK 5.0 this May, plus a way to save 20% on all tickets to Future Lawyer Week UK 5.0.
1. People are Getting Married in the Metaverse
With rising interest in the metaverse, some couples are opting to hold their wedding ceremonies virtually for the chance to connect with more family and friends who may not be able to attend in person.
Due to the uncharted nature of the metaverse, these weddings are not considered to be legally binding.
John Cassels, a partner and Co-Head of the Regulatory Group at European law firm Fieldfisher, says that while these marriages aren’t binding, they may have other legal implications for couples including effects on asset management and investments.
After holding her wedding in the metaverse, one bride stated that, “the advantage with this technology is that it is focused on bringing people together. And if there’s one thing that we need right now, it’s to feel connected to each other.”
Click here to learn more.
2. Can Tech Help Fight Burnout?
Solicitors around the world are turning to tech to help fight burnout in the workplace.
New technologies in the legal sector such as CRM softwares, client portals, and document automation softwares have allowed solicitors to streamline tasks and increase productivity.
After adopting these new legal technologies, solicitors have reported lower stress, better work-life balance, and a more efficient use of company resources. With less time spent on administrative tasks, solicitors are able to focus more on their work– and fight burnout.
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3. Thirdfort Partners with Veya to Fight Money Laundering
Thirdfort, a property and legal fintech, has teamed with Veya, a title deed analysis tool. Using Thirdfort’s best-in-class technology, estate agents can now undertake enhanced Anti-Money-Laundering (AML) checks within the Veya platform.
The web and mobile software from Thirdfort integrates Open Banking, data analytics, biometric and cryptographic technology to automate AML and ID checks, allowing estate agents and lawyers to authenticate clients securely, remotely, and in minutes.
Matt Berry, Head of Partnerships at Thirdfort, stated, ‘money laundering is a growing risk within the property sector and is no longer a simple box-ticking exercise for estate agents. Thanks to our partnership and a seamless integration between our products, agents using Veya can now negotiate in confidence, secure in the knowledge that they are compliant and dealing with genuine buyers and sellers.’
Click here to learn more.
4. vLex Helps Solicitors Stay Connected
Legal tech firm vLex has just launched a new legal research product, Global News. Global News is designed to share breaking legal news from around the world, helping solicitors stay up to date with relevant information.
Susan Cunningham, Director of Strategic Partnerships at vLex, states that, ‘if changes to legislation or an upcoming ruling could influence a client’s case, it’s crucial for legal practitioners to have immediate access to reliable news sources, reporting in real-time.’
Combining articles from over one hundred countries into a single platform, Global News has pioneered information gathering.
Click here to learn more.
5. Open Banking Leads to Financial Transparency
Businesses are now using open banking to provide ‘a standard and secure method to connect businesses with banks to enable sharing of data and access to banking services such as setting up payments, with the overall aim of providing greater financial transparency and making the lives of businesses and their customers much simpler.’
Open banking is especially relevant to legal services by allowing various payment options for legal clients and simplifying solicitors’ payment methods.
Many benefits of open banking, including streamlined finances and strong data privacy measures, are becoming a greater reality for solicitors and their clients in 2022.
Click here to learn more.
Left wanting more industry knowledge on the latest legal technology trends?
Take your learning from virtual to IRL at Future Lawyer Week UK 5.0!
After a hugely successful fourth iteration in September 2021, our flagship conference, Future Lawyer Week UK (FLW), is returning to the UK!
FLW UK 5.0 will take place in London 17th- 20th May 2022.
FLW UK is a unique event that focuses on innovative advancements in the legal industry whilst uniting all those from the in-house, private practice and litigation sectors and is designed to facilitate dialogue between these different areas of law. Along with 4 days of networking opportunities, workshops, presentations and a hackathon that are delivered by leading legal innovators, FLW UK is the place to be for all things legal technology!
If you subscribe to our website today, you can receive a 20% discount on your ticket!
Future Lawyer Week is part of a series held in the UK, USA, and Asia. Future Lawyer Week USA 2.0 is being held 14th – 15th March, 2022 in New York. For more information on FLW USA 2.0, check out a previous article we’ve written about the event!
