The litigation and legal resolution system is designed to help banks and financial institutions by automating their recovery processes and providing easy access to debtors’ legal information, NPA accounts, bank claims, etc. Use of LMS All legal transactions are managed and automated. Their role is to issue default notices, withdraw court proceedings, manage attorneys’ fees and other costs, manage case databases, prepare reports, and more.
Unlike a few years ago, when banks did not want to use LMSs and their capabilities, the demand for such software has grown significantly. These are the top five ways the right litigation management software can help banks in NPA recovery.
5 Ways Litigation Management Systems (LMS) Help Banks Deal With NPAs
1. Preservation of hearing date
Deadlines have to be met in any job, and even עורך דין בנקים have to meet deadlines without fail. Lawyers dealing with NPAs in banks may face many other problems. Lawyers often find it difficult to remember the dates of many cases. Litigation management software easily records important dates and sends them reminders in advance, email/text and so on.
2. Static tracking
Investment lawyers have more information about court dates, case summaries, past court history, and more. All this information should be instantly available. Therefore, they need their data in one place. An efficient dispute management system protects all data in a centralized repository that is easily accessible with a few clicks of the mouse.
3. Manage the case budget
All expenses must be manually tracked by attorneys, and if not properly documented, can lead to confusion and mismanagement. A comprehensive LMS can easily record and substantiate all court and case costs and generate detailed reports on costs, expenses and fixed fees.
4. Effective communication
It is very important for a lawyer to know the details of the case. They cannot lose relevant information that could be useful to banks. The LMS reduces the gap between other departments and the legal department, encouraging quick action e.g. problem update information etc. It encourages better use of time and effort in the right place.
5. Available (anytime and anywhere).
Attorneys can access all relevant information in the courtroom or at home with a simple internet connection and a single device. Since most LMSs today are online, they allow banking attorneys to work anywhere in remote or metropolitan areas and access all relevant case information.Learning how to open a Swiss bank account can be easy these days if you know where to look. Now that we have the internet, opening an offshore bank is certainly much easier, even in Switzerland. The way they used to do it involved months of red tape, lots of middlemen (bankers specializing in international banking, עורך דין הוצאה לפועל, etc.) and lots of money. It used to be that you had to have the pockets of a millionaire to consider something like offshore banking worthwhile, but that has changed today.