Law tech – deliver competitive service without compromising on quality
Legal tech: 2020 has seen a major shift in the way we all work: Virtual conferences, sharing documents online and a zoom quiz at the end of a busy week has become the new norm for lots of us in the legal industry.
Digital innovation has been prematurely forced upon some to make the shift to reduce timescales, improve efficiency, mitigate risk and lower their costs. Using portal technology offers the solution that many did not realise they needed until now.
The most common cause for complaint to the Legal Ombudsman is delays – clients value quick and predictable conclusions.
The ability to use an on- demand service which allows for transparency with clients and is more secure, can help provide a solution to delays and help deliver a better service.
A portal where data is kept securely; meaning sensitive documents and legal forms can be completed online without the threat of fraud, helps firm move away from the more traditional methods of communication like e-mail.
Current issues
According to Price Waterhouse Cooper’s Law Firms’ Survey ‘Adapting to a new world’ in 2019, 8/10 of the top 10 firms identified technology as the key challenge to growth in the next 2-3 years. To be successful, firms will need to invest in technology and change their way of working to drive productivity and innovation.
In the same survey, 100% of the top 100 firms suffered a cyber security breach over 2018/19. The increased threats to email communication, through phishing and interception, means that data breaches are ever present with the potential to cause irreparable reputation and financial damage. In order to be more protected firms need to consider how they can safeguard the sensitive information of their clients and business.
Fraud has been increasingly omnipresent over the past decade for lawyers, with 2019 seeing over £700,000 in losses just in the first quarter, from bogus law firms to emails being hacked, the threat of cybercrime simply is not going away.
The probate sector as well as property law is highly vulnerable, when it comes to ensuring you are dealing with the right person, and that they are who they say they are. Probate fraud is rife and it is imperative that communications and ID verification is water tight. STEP (Society of Trust and Estate Practitioners) state that probate fraud costs around £150m a year.
All areas of law need to start to embrace using the latest technology in ID verification to ensure they survive. Not only financial loss, but also reputation damage can be devasting.
An effective portal that is able to unify your communication with your client’s sensitive documentation, can improve efficiency, protect your client, enhance your customer’s experience and save your business money.
Using a platform that also enables you to verify your client’s identity, offer fast quotes that can be agreed to in seconds and provides clients with documents to complete online, significantly reduces a firm’s vulnerability.
Why Minerva?
Developed in conjunction with a range of leading law firms, Minerva has been designed to reduce the cost and massively speed up the time to onboard clients.
An inclusive portal for all types of firms and all areas of law, Minerva eliminates the need for the traditional and less secure methods used to communicate with clients. Onboarding clients with Minerva allows for firms to provide an excellent, compliant, transparent and easy to access service.
To find out more about how your firm can start delivering a competitive service, contact Minerva’s friendly team of experts and book a demo. Email: [email protected] or call 0844 414 2911. For more information visit our new website www.minervaportal.com.
Kindly shared by Minerva (from Law Firm Services)
