UK bank LHV is to apply artificial intelligence technology from Luminance to streamline legal contract document workflows.
LHV will be using Luminance to support the development of a streamlined ticketing system, a centralized document repository, and a more efficient contract review process. The platform will standardise the review of commonly used legal documents, including client and vendor agreements, NDAs, and other routine contracts.
This is expected to cut review times by at least 50% for low-value, high-volume documents such as NDAs and reduce complex contract turnaround from days to under an hour, undercutting the bottlenecks experienced with manual processes.
Luminance’s analytics capabilities will also enable the team to monitor contract termination and renewal dates, ensure alignment with internal policies, and strengthen regulatory readiness.
“We’re excited about the future of AI in legal operations and believe tools like Luminance are essential for forward-thinking institutions,” says Olivia Miller, trainee solicitor at LHV. “This collaboration reflects our broader commitment to digital transformation and innovation across the business.”