Navigating the complexities of conflict checking processes and existing legal tech solutions can often feel akin to searching for a needle in a haystack. That's why we're thrilled to unveil our latest innovation: Smart Conflicts. Today, I am excited to share with you the story behind our journey—from discovery to our vision for the future.

Understanding the Challenge

Carrying out conflict checks is a labyrinthine process, with risk data scattered across various platforms, and sometimes even locked within lawyers’ heads. Existing solutions, reliant on fuzzy matching algorithms or manual inputs, often lead to incomplete results, significant room for human error and audit-readiness risk. Fee earners are burdened with sifting through extensive lists of potential conflicts, which is time-consuming and prone to oversight. 

In response to this challenge, we engaged with a range of  legal professionals, compliance managers, and experts to find a technologically-enabled solution to streamline the conflict checks process. 

The result - Smart Conflicts 

Our Smart Conflicts product - a solution designed to simplify and enhance conflict checks:

• enables SRA compliance by conducting comprehensive conflict checks against existing and former clients, counterparties, and associated parties; 
• supplements entity data with reputational risk data to provide a more informed approach to commercial risk
• consolidates all conflict-related data within a single platform, facilitating holistic risk management from creation to resolution, recording all decision-making in one place. 
• connects with Legl’s smart ongoing monitoring module for real time audit alerting to changes in risk 

Why choose Smart Conflicts?

Smart Conflicts leverages AI technology, our solution intelligently analysing existing data, minimising false positives and extraneous noise, ensuring accurate results and saving valuable time. 

We collect data in a smart way, only requesting essential information necessary for a comprehensive check. There is no need to grapple with lengthy input forms, or guess  which data points are pertinent for the conflict check and why.

Smart Contracts mitigates against the risk of teams resorting to workarounds by entering minimal data out of fear that the system's weak matching logic will overlook pertinent information and saves extensive time spent sifting through numerous results to ensure thoroughness. 

With a refined search engine that prioritises results based on probability, Smart Conflicts not only ensures that no results are missed, but also empowers users to make informed decisions efficiently, thereby optimising the conflict resolution process and putting users at ease.

What’s next? 

Our commitment to innovation drives us forward as we look to expand the capabilities of Smart Conflicts. Here's a glimpse of what's on the horizon:

Risk assessment: We're empowering lawyers to proactively identify potential risks at a conflict level. Smart dynamic risk flags will provide real-time insights, allowing users to navigate client and matter risk profiles with ease and confidence enabling informed decision-making and risk mitigation.

Compliant by design: Our mission is to remove the tedious analyst work in manually consuming and scoring risk data, providing a smart automation layer which seamlessly completes all client due diligence actions, reports on results and delivers a matter and client level summary of risk. 

Audit readiness: We drive audit readiness by demonstrating transparent decision-making processes in conflict checking and risk assessment, equipping legal professionals with the tools they need for seamless consistent compliance every day of the week and of course for external audits 

Choose smart compliance by design through Legl’s risk and revenue management platform.

At Legl, we don’t do things by halves. Whether it is the tech or compliance risk you need solutions for, join our PIG ( Product Innovation Group) for early adopter innovator access to product, compliance and risk solutions. Sign up to PIG here.