Roca Junyent has chosen to adopt Luminance’s machine learning technology to enhance its M&A due diligence processes, becoming the fourteenth Spanish customer for the market-leading artificial intelligence platform. The firm chose to harness Luminance after being impressed with the platform’s time-saving abilities, workflow functionality and language-agnostic technology.
The innovative Spanish firm was looking for a solution to streamline its workflow whilst increasing efficiency and value for the clients within their M&A practice. On the first day of the review using Luminance, Xavier Costa Arnau, Partner within the Corporate and M&A team and President of AIJA (International Association of Young Lawyers), achieved an impressive time-saving compared to manual review.
“Our objective was to see how Luminance could result in significant time savings during the due diligence process, compared to our current manual review process”, commented Xavier Costa Arnau, Partner at Roca Junyent. “Not only did we meet this objective, experiencing real time savings on day one, we saw just how transformative Luminance can be in streamlining workflows. Luminance’s project management capabilities made it efficient and easy for us to manage the workload of our teams, which are split across five offices in Spain.”
Roca Junyent regularly deals with multi-lingual and multi-jurisdictional data sets, making Luminance’s language agnostic capabilities particularly beneficial for them. The firm’s Madrid office deployed the technology on a live deal which contained Spanish, Portuguese, Italian, Basque, Catalan, Galician and English documents. Due to Luminance’s sophisticated pattern recognition algorithms, the platform was able to detect distinct patterns in each language with no prior training or preparation, identifying significant similarities and anomalies in the documents as soon as upload was complete.
Emily Foges, CEO of Luminance, added: “We are thrilled to announce Roca Junyent as our fourteenth Spanish customer. It is clear that firms in Spain are leading the way for innovative European law firms. As Roca Junyent continues to use the platform on live transactions, the technology will become more and more specialised to their instance, and time savings and efficiency will only increase.”
About Roca Junyent
Roca Junyent is one of the first Spanish law firms. With over 240 professionals, it has offices in Madrid, Barcelona, Girona and two associated firms in Palma de Mallorca and Lleida. It offers advice in all legal areas, especially in commercial, banking and finance, procedural and tax law. Roca Junyent also has a significant international reputation, which has enabled it to be acknowledged by the most prestigious legal publications, such as Chambers and Legal 500. It is also one of 6 Spanish firms in The Lawyer European 100.
Luminance is the leading artificial intelligence platform for the legal profession. The technology builds on ground-breaking machine learning and pattern recognition techniques developed at the University of Cambridge to read and understand legal language much like the human brain. Luminance 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 portfolio analysis and eDiscovery. Luminance has offices in London, Cambridge, New York, Chicago and Singapore.