UniCredit Bank Austria and Brandl & Talos launch the digital legal advisor tool for contracts with the public sector
Together, Brandl & Talos and UniCredit Bank Austria have created the first digital legal advisor program in Austria. The tool will help UniCredit Bank Austria streamline the financing requests of municipalities.
UniCredit Bank Austria is the leading provider of financial products to the public sector and offers municipalities tailor-made loans, credit lines, and alternative forms of financing. The process however has been ridden with legal complexities, encumbering the bank’s Sales Team with legal requirements that in Austria differ substantially from region to region. For example, which authority must approve a certain type of transaction, and under which circumstances. It goes without saying that such legal assessment must be performed with precision and the necessary expertise.
Together with the Vienna law firm Brandl & Talos, UniCredit Bank Austria took the initiative. Brandl & Talos has successfully developed a legal advisor tool on the basis of the firm’s Legal Tech platform. The new tool digitally processes complex legal issues for all employees of UniCredit Bank Austria, providing results in an accessible and workable form. With the Legal-Tech tool and its user-friendly interface, bank employees will now receive an accurate overview of the relevant parameters, to assess if and under what conditions the respective product can be offered. The tool also automates the creation of contracts.
“With Legal-Tech, we minimize the risk of legal assessment errors. The automatically created contracts, based on competent legal assessment, mean that legal certainty is always just a few clicks away. This paves the way for the entire banking industry, and is a great asset for our employees,” shares Dr. Alexander Schall, Head of Legal & Corporate Affairs at UniCredit Bank Austria.
“We see ourselves as a pioneer in the development of legal-tech solutions: while other law firms set up work groups, we deliver practical and easy-to-use results,” Dr. Ernst Brandl, founding partner at Brandl & Talos, is pleased with the results. The new digital tool is a prime example of how digitization and technological progress can make working and collaboration easier.
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Photo: Dr. Ernst Brandl