Palantir Technologies Inc. (NYSE:PLTR) Enters Collaboration To Power Akin Gump’s RegSpot Legal Solution

Palantir Technologies Inc. (NYSE:PLTR) has announced a collaboration with Akin Gump Strauss Hauer & Feld LLP to introduce the RegSpot services to its Foundry software platform. RegSpot is a new legal digital services platform that allows Akin Gump’s customers to access innovative solutions meeting their legal needs.

Collaboration to allow clients to enjoy automated data solutions

The collaboration will be an exceptional application of Palantir’s Foundry platform in the legal sector. RegSpot will leverage the Foundry platform’s low code interfaces, auditing features, and extraordinary security functionalities in enabling users to access innovative, software-driven solutions as well as intricate legal and compliance processes. Most importantly, clients will now manage previous time-intensive compliance and complex processes quickly through automated data solutions. At the same time, clients will collaborate with Akin Gum through a single decision-making solution.

Palantir COO Shyam Sankar said that the company has a good tech deployment track record for solving some of the world’s hardest problems. Sankar added that they are delighted with another example of how clients can configure SaaA offering of their customers on Foundry at remarkable speeds.

Foundry platform vital in fraud detection

Currently, various customers are employing Palantir’s Foundry platform for compliance applications such as fraud detection and anti-money laundering. The platform has in-built data protection and auditing features, making it more suited for complex data situations where stringent security requirements are necessary. Notably, this is vital in the legal environment, which requires the highest confidentiality level.

The company will launch the first RegSpot module, an innovative tool designed to support Akin Gump clients. It will support necessary compliance efforts against US government restrictions that involve military end-users in specific countries. The MEU tool powered through Palantir streamlines the due diligence process that involves review, collection, and information restoration through the exceptional Palantir Foundry platform’s advantages. At the same time, it will exploit Akin Gump’s capabilities of assessing and responding to legal risks posed by specific transactions. Palantir and Akin Gum will use their domain expertise in collaborating to develop more offerings for RegSpot.