Neota Logic, creators of the world’s leading AI automation platform, announced today international law firm, Allen & Overy, has released marginMAPP, an application built in the Neota Logic platform to expedite Global Initial Margin Regulation compliance for their clients.
Through its no-code platform and commitment to client engagement, Neota allows clients to quickly and efficiently build bespoke tools to ensure legal expertise is both accessible and profitable.
marginMAPP is a client facing tool built by Allen & Overy designed to help market participants manage compliance with phases 4 and 5 of the Global Initial Margin rules. It helps entities determine whether the EU (EMIR) and U.S. (CFTC or Prudential Regulators (PR)) Initial Margin Rules apply or if one or more ruleset applies, how this will impact specific counterparty pairings.
Emma Dwyer, Capital Markets partner at Allen & Overy commented, “There is a lot of uncertainty about whether IM rules will apply to our clients, and profound effects on their business if they do. Being able to speed up this process by giving specific, tailored advice is paramount. Not only does it free up our lawyers but also enables our clients to be served answers immediately, at any time.”
This is one of the applications that have come out of Fuse, Allen & Overy’s collaborative tech innovation space. This space allowed internal stakeholders at Allen & Overy to work closely together with their Legal Tech team and Neota Logic to ensure that the end product is what they were looking for.
Richard Seabrook, Managing Director at Neota Logic commented, ‘We’re delighted to be working with Allen & Overy as they digitise their legal expertise to offer transformative services to their clients. Neota’s no-code automation tool-kit allows for complex, easy to use digital applications to be developed from a blank canvas. This flexibility means that it can handle the development of marginMAPP whilst also developing other use cases such as end-to-end contract automation kits’.
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