First things first, verification plays a pivotal role in unlocking new transactions as businesses are vulnerable to hidden risks, for which it becomes necessary to screen legal issues or criminal activities, if any, of the counter-parties they are dealing with.?

For example, banks can conduct checks and inquire if there are any ownership conflicts in a company prior to sanctioning a big-ticket loan. In addition, it is always useful to keep a tab on legal issues related to existing customers. Further, entities may want to perform legal crime checks on employees before onboarding them and simultaneously keep track of legal processes they themselves may be involved in for upcoming hearings and ongoing cases.

Typically, the process involves scanning through multiple sources manually, as there is a lack of a unified database for this purpose. Many of these sources are not available publicly, and the data is quite fragmented and many times, even inaccurate (written with spell errors leading to manual search problems), leading to missing out on important and timely information. Further, data is not organized intelligently for quick, actionable insights. Therein lies the need for an automated solution that can provide all existing litigation intelligence and updates on a single dashboard.

Karza’s Litigation BI offers credible litigation intelligence by scouring data from over 3,500 courts and tribunals in India in less than 30 seconds, saving precious time and money for organizations.

Below are some features of Litigation BI that can ease the entire litigation diligence and monitoring process for businesses:

Comprehensive coverage: Karza’s database consists of over 150 million cases which are captured across all courts and tribunals under the Indian judiciary This encompasses data from all high courts, district courts, Supreme Court, consumer courts, Real Estate Regulatory Authority and tribunals in the country, leaving no stone unturned in the process of uncovering legal aspects of a counter-party or an employee. This also allows corporates to keep track of litigation progress if any.?

Intuitive search functions: The solution comes with advanced search features enabling easy identification of the target party or cases related to them. By simply entering unique identifiers such as entity name, DIN, CINO, etc., clients can access all cases filed by and against the target party. With the upcoming Address Search feature, businesses can be more assured of the identity of the target, as this enables them to match the name and address of the party in the conflict. In addition, the search function comes with 20+ advanced filters to narrow down the search process. ?

Regular Tracking and Monitoring: Litigation BI has a Case Calendar which keeps a tab on upcoming hearings, regular updates on recently issued orders/judgment, or any other new cases filed against an entity or employee. ?Further, cases are crawled daily, and their overall status is updated on a weekly basis, which denotes the highest update frequency. This not only aids in improving the accuracy of existing information but also leverages the data by updating it on an almost real-time basis.?

Risk analysis: The crux of what makes Litigation BI an “intelligent” solution is its risk classification function. Our algorithms are capable of analyzing the acts and sections under which the cases are filed simultaneously with the position of the parties to conduct a comprehensive risk analysis of cases in which the target party is involved.?

Customizable reports: Data becomes actionable when it comes with the right insights. Litigation BI allows clients to generate customizable reports that include data that is relevant to them. Information including case text, metadata, orders, and judgments can all be organized in an intelligent report, as required by clients.?

Litigation BI’s AI-powered insights have helped organizations reduce their time to generating litigation reports by a whopping 95% and time for litigation analysis and screening by 70%. Karza’s clients have been able to mitigate human error with end-to-end automation of the litigation diligence and monitoring process, thereby reducing the possibility of risks associated with business considerably.?

Explore Litigation BI for your advanced litigation screening needs

More about Karza Technologies: Karza Technologies 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. Karza Technologies award-winning solutions enable systemic fraud prevention, risk management, compliance & automation through superior data engineering and deep tech applications.