With over 3500+ courts in India and a considerably complex judicial system, litigation monitoring and diligence has always been a challenge for the legal fraternity and corporations alike. To start with, most of these courts have separate records across multiple portals. With information about crores of open cases being scattered across different sources, searching for relevant information across the entire database is tedious. This leads to lawyers and corporations spending at least a few hours in a day in order to stay updated on the cases of interest. Organizations and lawyers may want to find cases specific to an individual or company. They may also want to monitor specific cases and stay up to date with hearings, evidence, and so on.
Clearly, there is need for a unified portal for quicker access to litigation information across all courts in the country.
Perfios’ litigation BI aims to transform the way legal due diligence is done, saving time, effort, and costs. The solution collates data from 3,500 courts across 750 sources across India and allows refined searches using a wide range of parameters.
Here’s how Litigation BI can help step up litigation due diligence for various stakeholders:
For multinational companies and banks wanting to track and monitor litigations and get updates on upcoming hearings, Litigation BI offers a single-point source to track/monitor cases. Further, while data is updated on a daily basis, Perfios has also built customizable features like email alerts to update clients on relevant cases.
Litigation BI can also make screening simpler for banks for purposes of sanctioning loans and other facilities. Banks can conduct their legal and compliance checks against individuals and corporations to check for any financial crimes, insolvency proceedings, etc. using this solution. This, in turn, ensures better risk management and fraud prevention.
Another beneficiary group is the recruitment function at MNCs and large enterprises. Given that these companies hire at scale and regularly, background verification of new employees involves a long turnaround time and adds to manual effort and costs.
With Litigation BI, companies can onboard employees faster via robust and accurate legal checks.
Independent law firms can also leverage the power of Litigation BI to track cases pertaining to their clients.
A striking feature of Litigation BI is its award-winning “Fuzzy Search” algorithm that allows users to search for common variations in the spelling of an entity or an individual, without needing to add various input combinations. It does so by leveraging Perfios’ proprietary name matching solutions to identify and account for spelling mistakes, phonetically similar words, etc. While many cases and individuals are difficult to track in the context of litigation and inconsistent records online, Fuzzy Search ensures that there are no errors when searching for this information. This is especially relevant in the Indian context where there are a wide regional variations with names. For example, the name K Ramkumar can have the surname initial before the first name typically if it comes from South India, while in northern India, K would usually imply the first name initial. In such cases, Fuzzy Search can help identify the right individual to relevant cases.
Litigation BI comes covers over 3500 courts in India, including Supreme Court, High Court , District Court, Consumer Court, CCI, SAT, NGT, ITAT, CESTAT, DRT, NCLT, ATFP, RERA Courts, NCLAT. Users can also refine their search as per company name, case type, court, address, vehicle number, DIN, CIN, and so on, aiding faster diligence. In addition, Litigation BI can generate comprehensive and customizable reports quickly. This has allowed our clients to make quicker and informed decisions based on accurate data.
Leverage AI-powered insights to automate your litigation due diligence with Litigation BI. Step up your automation journey with Perfios
About Perfios:
Perfios is the largest data, analytics, automation, and decisioning solution provider to FIs, catering to the entire lending lifecycle from onboarding to diligence & monitoring to collections. Perfios solutions enable systemic fraud prevention, risk management, compliance & automation through superior data engineering and deep tech applications.
In a nutshell, Perfios stands on the trifecta of digitization: automation, enhanced diligence, and robust decisioning for straight-through processing; thus, creating a state-of-the-art digitization process without compromising on security and quality. Perfios is a pioneer in the services it offers and has successfully acquired a very diverse portfolio of 300+ live clients, spanning the largest gamut of use cases in the industry.
