LegalTech

LegalTech is set to completely disrupt how legal services are delivered worldwide. Bespoke, purpose-built software can allow law firms to streamline legal processes, enabling them to offer a more efficient service, and subsequently provide better value for money to consumers.
  • Provide lawyers with the means to improve efficiency and effectiveness.
  • Provide better access to data and casework for both lawyer and client.
  • Rely on IT infrastructure and cyber security (particularly regarding GDPR).
  • Improve customer service, offering better value for money within an expensive service industry.
  • Make legal services more accessible to a growing consumer market, improving the chance of providing true Access to Justice.
The opportunities for a dynamic funding proposition are considerable. However, existing funding models present inherent structural challenges. To deploy funds into a growing legal sector is relatively easy, but in order to manage risk and develop a profitable model, there are obstacles to overcome:
  • Lack of transparency.
  • An introducer driven model.
  • Lack of research and development.
  • An inability for the funder to monitor cases in real-time.
Maximisation of income balanced with risk management to ensure return of capital. This is the key philosophy driving our proposition.

What is our Solution?

Our approach is unique.
Our interests are aligned with those of funders, and we are involved in the whole process:
  • Identifying of the case type.
  • Determining which opportunities are suitable for funding.
  • Sharing our expertise and knowledge with the funder.
  • Ensuring that the solicitor understands how everything is working.
  • Providing a system in which all parties can review every transaction.
The monitoring, the transparency will foster the alignment of interest. Everyone’s rewards are based upon the same conditions.

Our Proposal

CTA’s proposal is the creation of an end-to-end legal system in which we will provide visibility, control and real-time monitoring over every aspect of the case – a platform in which every component of a case is integrated:
  • Portal to access cases.
  • Client Onboarding.
  • Case Verification.
  • Disclosure and Data Analysis.
  • Account Recalculation.
  • CRM
  • Practice Management Software.
What do we offer to the panel firm?
  • Fully vetted cases.
  • Onboarding and AML Checks.
  • Reports, Assessments and Calculations.
  • Disclosure and SAR.
  • Scanning, Processing and Data Extraction.
  • Design of Case Precedents and Document Templates.
  • Advice and Ongoing Technical Support.
  • Access to Paralegal Outsourcing.

What are we trying to achieve?

We are seeking to bring together the different parties within the legal ecosystem into a unified, singular platform. This will increase the efficiency of solicitors, making larger caseloads more manageable, resulting in greater output. This increased output of cases effectively neutralises the apparent decrease in the solicitor’s income due to our fees.

Working with CTA

CTA is all about efficiently generating and executing cases. It does this, while managing risk, by:
  • Carefully defining the processes for approving cases.
  • Managing client and case acquisition.
  • Implementing transparency through software, enabling performance monitoring for enhanced efficiency; improving visibility to stakeholders and enabling better communication between parties.
  • Creating a balanced portfolio of different case types.
  • Investing in a large number of cases with different risk profiles for mitigation.
  • Working with Solicitors Regulation Authority (SRA) regulated law firms.
  • Providing suitable After-the-Event (ATE) insurance policies from an FCA regulated broker, insuring adverse costs and disbursements (or even designing a captive insurance proposition).
  • Working in areas of law with established precedent in order to minimize complexity.

The Key Advantages of CTA

Case Acquisition

  • Cases are acquired by us through multiple channels.
  • These cases can be “matched” by us with appropriate law firms.
Our case acquisition work may be conducted through individual solicitors who are permitted to undertake this activity as they are an exempt provider under the FCA’s regime. Please see our disclaimer on the footer.

Rapid cash recycling

  • Capital is employed for a relatively short timeframe in each case.
  • Deployed capital can be re-utilised and rolled up many times over.

Portfolio Diversification

  • Many different case types can be handled with a balanced ‘Risk vs Reward’ profile.
  • Occasional losses are easily absorbed by cashflows with no serious impact.

Competitive Advantage

  • Rules on proportionality mean that legal fees must be appropriate to the amount likely to be recovered – this makes low ticket claims easier to pursue where there are significant economies of scale.
  • Law firms driven by process-efficiency and automation have an inherent advantage in this area.
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