Luminance, a Cambridge-based legaltech, has announced a partnership with LHV Bank. LHV, a subsidiary of Estonia’s LHV Group and a prominent financial services provider for UK consumers and fintechs across Europe, will use Luminance’s AI platform to streamline contract review, negotiation, and management.
The legal team at LHV has faced growing demands as the bank expands its footprint, particularly in handling repetitive, low-value contracts under tight deadlines.
“We’re excited about the future of AI in legal operations and believe tools like Luminance are essential for forward-thinking institutions,” said Olivia Miller, trainee solicitor at LHV.
“This collaboration reflects our broader commitment to digital transformation and innovation across the business.”
Luminance’s technology automatically flags key clauses and identifies risks and accelerating turnaround times. According to the announcement, LHV expects the AI to cut review times by at least 50 percent for high-volume documents such as NDAs, and reduce complex contract analysis from days to under an hour.
This will enable the legal team to transition away from time-consuming manual reviews and instead focus on more valuable legal and strategic tasks. At the same time, AI-driven consistency and accuracy are expected to reduce legal risk and help enforce compliance across LHV’s growing operations.
The system will also underpin a broader operational upgrade, including the development of a centralised document repository, a streamlined ticketing system, and an analytics layer that monitors contract lifecycles.
“Faster negotiation means quicker client onboarding for Relationship Managers, while Product teams experience fewer delays in the contract negotiation process,” the release notes. “The executive team have clear visibility into the legal team’s activity across the organization, supporting faster, more informed decision-making at the executive level.”
Eleanor Lightbody, CEO of Luminance, added: “We’re thrilled to welcome LHV into the Luminance family as they continue their impressive digital transformation journey. This partnership underscores our shared vision of leveraging cutting-edge AI to drive innovation and efficiency across the legal sphere.”
The partnership comes at a time when financial institutions are increasingly turning to AI to modernise back-office functions, including compliance, risk, and legal operations. Regulatory pressures, complex partner ecosystems, and a rising volume of digital transactions have made legal processes a priority area for transformation.
Luminance was developed by AI researchers from the University of Cambridge and is in use by 700 organizations across 70 countries.
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