Niederer Kraft Frey adopts Luminance to enhance the work of its lawyers firm-wide 11 March 2019 | Zurich
11 March 2019 – Pioneering and renowned Swiss law firm Niederer Kraft Frey (‘NKF’) has chosen to deploy Luminance’s artificial intelligence platform to expedite M&A due diligence in cross-border transactions.
NKF adopted Luminance after completing a live M&A transaction using English, French, Polish, Finnish, Spanish, German, Russian and Arabic documents. On day one of the project, Luminance’s sophisticated machine learning algorithms provided an immediate and global overview of the legal documents across multiple jurisdictions and languages. All documents sharing similar patterns in the language were then clustered together, allowing NFK’s lawyers to easily assign meaning to the clusters and identify any anomalous documents or clauses that strayed from the norm.
“As the only language-agnostic tool available on the market, we were keen to explore how Luminance can enhance our day-to-day work on cross-border, multi-lingual transactions,” said Till Spillmann, the Luminance project leading Partner at NKF. “Luminance supercharges our lawyers through its unprecedented clustering capabilities which can assist in prioritising and reviewing large data sets at a much faster rate, whilst helping to uncover the areas of risk which would likely be missed during a manual review.”
Emily Foges, CEO of Luminance, added: “We are pleased to welcome NKF as one of the first Swiss law firms to adopt Luminance. The platform’s unique ability to read, understand and learn from the interaction between NKF’s lawyers and documents will increase the firm’s insight into transactions, allowing them to deliver a more informed and efficient service to clients.”
Developed by mathematicians from the University of Cambridge, Luminance harnesses proprietary machine learning algorithms to read and understand legal documents in a similar way to humans, coping with volumes and working at speeds that no human can match. Trained by legal experts, Luminance can highlight anomalies within large groups of documents, allowing lawyers to prioritise their work more effectively.
Since launching in 2016, Luminance has 140 customers in over 40 countries across six continents, including 15 of The Global Top 100 law firms and three of the ‘Big Four’ accountancy firms.
Niederer Kraft Frey is a leading full service Swiss law firm with an international approach. Niederer Kraft Frey offers integrated advice across the whole spectrum of corporate, finance and business law and has a long track record of dealing effectively with complex challenges by combining legal excellence with commercial focus. Over decades, Niederer Kraft Frey has worked on the most significant and demanding matters in the Swiss market.
Launched in September 2016 and already in use on six continents, Luminance’s document review platform offers lawyers greater insight at unmatched speeds. Luminance builds on ground-breaking machine learning and pattern recognition techniques developed at the University of Cambridge to read and understand legal language. The technology is used by law firms and in-house teams in over 40 countries around the world to improve processes such as due diligence, compliance reviews, property lease abstraction and eDiscovery. Luminance has offices in London, Cambridge, New York, Chicago and Singapore.
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