Palantir and Akin Gump Collaborate on Legal Digital Service Platform
February 18 2021 - 6:59AM
Business Wire
Palantir Technologies Inc. (NYSE:PLTR) and Akin Gump Strauss
Hauer & Feld LLP announced today they have collaborated to
introduce Akin Gump’s RegSpot, a new legal digital services
platform powered by Palantir’s Foundry software that will allow
Akin Gump’s clients to access innovative solutions to meet their
legal needs.
This collaboration marks a unique use of Palantir’s Foundry
software in the legal industry. By leveraging Foundry’s world-class
security functionalities, low-code interfaces and auditing
features, RegSpot will enable end users to access novel,
software-driven solutions to complex legal and compliance
processes. Clients will be able to quickly manage previously
complex and time-intensive compliance obligations using automated
data solutions, while also securely collaborating with Akin Gump in
a single decision-making platform.
“Palantir has a long track record of deploying technology to
solve the world’s hardest problems,” said Palantir COO Shyam
Sankar. “We are excited for another example of how our customers
are able to configure SaaS offerings for their own customers on
Foundry at remarkable speed.”
Palantir Foundry is currently used by other customers for
compliance functionalities such as anti-money laundering regulation
and fraud detection. Its built-in auditing and data protection
features have made it particularly well suited to complex data
environments with stringent security requirements. This is
especially crucial in the legal world, where the strictest
confidentiality is necessary.
The first RegSpot module that will be launched is an innovative
tool built to support Akin Gump’s clients’ diligence efforts
required to comply with U.S. government trade restrictions against
certain transactions involving “military end use/users” in
specified countries. This "MEU Tool, powered by Palantir,"
streamlines the due diligence process of collecting, reviewing, and
storing information using the unique advantages of the Palantir
Foundry platform, while leveraging Akin Gump’s capabilities to
assess and respond to the legal risks posed by particular
transactions.
“With the increasing complexities of U.S. export controls,
companies face the daunting task of conducting sufficient due
diligence to identify and respond to red flags,” stated Tom
McCarthy, head of Akin Gump’s international trade practice. “The
MEU Tool helps provide an auditable process that promotes
consistency, reduces human errors, and serves as a recordkeeping
tool to demonstrate a company’s compliance efforts. This function
is critical as companies face increasing scrutiny from regulators
in an ever-changing legal landscape.”
Palantir and Akin Gump will utilize their combined domain
expertise and collaborate to develop additional offerings on
RegSpot. Going forward, they plan to make additional offerings
available on RegSpot, each addressing a unique, data-intensive
compliance or regulatory need.
About Palantir Technologies
Palantir Technologies is a software company that builds
enterprise data platforms for use by organizations with complex and
sensitive data environments. From building safer cars and planes,
to discovering new drugs and combating terrorism, Palantir helps
customers across the public, private, and nonprofit sectors
transform the way they use their data. Additional information is
available at https://www.palantir.com.
About Akin Gump
Akin Gump is a global law firm with more than 900 lawyers and
advisors who pride themselves on dedication to their clients and
their communities. With 20 offices worldwide, the firm is renowned
for numerous market-leading practices, including its strengths in
regulatory and compliance matters, particularly in the
international trade arena. Akin Gump partners with clients from
both established industries and cutting-edge markets to deliver
creative solutions to business-critical issues, helping them seize
opportunities and anticipate challenges. Driven by its
forward-thinking leadership, the firm has built a strong culture of
innovation and collaboration as well as a talented and diverse
workforce committed to the success of clients and each other. Visit
the firm at www.akingump.com, or follow Akin Gump on LinkedIn or
Twitter.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may relate to, but are not limited to,
Palantir’s expectations regarding the amount and the terms of the
contract and the expected benefits of our software platforms.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Forward-looking statements are based on information available at
the time those statements are made and were based on current
expectations as well as the beliefs and assumptions of management
as of that time with respect to future events. These statements are
subject to risks and uncertainties, many of which involve factors
or circumstances that are beyond our control. These risks and
uncertainties include our ability to meet the unique needs of our
customer; the failure of our platforms to satisfy our customer or
perform as desired; the frequency or severity of any software and
implementation errors; our platforms’ reliability; and our
customer’s ability to modify or terminate the contract. Additional
information regarding these and other risks and uncertainties is
included in the filings we make with the Securities and Exchange
Commission from time to time. Except as required by law, we do not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210218005215/en/
Lisa Gordon media@palantir.com
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