Could you share an example of a time when you came up with an innovation that improved the way your legal team works and did not come at a huge cost?

As an example, I can cite the reduction of time in the processes of signing contracts and due diligence to our customers KYC policy, with the aim of streamlining the process, while simultaneously preparing the contract and finalising the business relationship to start or continue our services, avoiding reprocessing and unjustified delays, without falling into regulatory non-compliance. On the other hand, internal audit and regulatory observations were reduced, with the implementation of tools for the control and monitoring of regular reporting activities.

What are some of the key developments that have affected your business over the past year?

Regulation has affected our business, especially as our business is limited to the purpose of handling money and valuables, which does not allow for other business activities beyond the traditional ones. Another legal limitation that we have faced is in the obtaining and the renewal of operating licences from other regulatory bodies, especially as there is lack of clarity in the requirements and procedures needed.

How do you think the internal legal role will evolve in the coming years?

I believe that it will evolve with the implementation of technological products, particularly for the drafting and management of contracts and legal cases, on the other hand, at present the in-house lawyer has a more participatory role in the implementation of procedures that generate a culture of compliance in the business. It is of utmost importance to have the implementation of compliance, to avoid legal, reputational, and other risks.

Do you use any legal technology products and, if so, for what areas of your work do you find them most useful?

I do not currently use any legal technology; however, I think it would be useful for contract drafting, case management, invoicing, and process automation, among others.