2 December 2021
Clifford Chance has been awarded the Most Innovative Technology Initiative at The Lawyer European Awards 2021, for the Clifford Chance IBOR Reform tool which was originally designed for its long-standing client ABN AMRO Bank N.V.
The Clifford Chance IBOR Reform tool is an innovative product that addresses the global IBOR reform, one of the most significant changes to financial markets in recent years. The Clifford Chance IBOR Reform tool, a fully digital and streamlined process, enables banks to amend thousands of contracts for financial products in an efficient way, resulting in approximately 60% cost savings and 60% time savings.
The jury of The Lawyer European Awards 2021 comments: "Congratulations Clifford Chance. The judges rated you highly for your smart use of multiple high-tech tools. You've clearly worked incredibly hard to create an excellent product. We thought that this was a first-class example of a law firm going above and beyond for its client. Well done for winning."
Bas Boris Visser, Global Head of Innovation and Business Change at Clifford Chance: "Innovation is a core element of our strategy at Clifford Chance and we are committed to delivering creative, value-based solutions for our clients and their businesses. Our IBOR reform tool for ABN AMRO is an excellent example of how an international, cross functional team of partners and specialists designs an approach for delivering legal services that is quicker, simpler, more efficient and more robust. Very proud of Ilse van Gasteren, Jeremy Walter, Anthony Vigneron, Carissa Schiller, Alice Ayling, Jurgen van der Meer, Dana Meijler-Gross, Emily Brittain, Béatrice Blois, Kenny Fyfe, and many more for delivering this great solution."
Clifford Chance uses a range of specialised capabilities in the delivery of its legal services including expert project management and continuous improvement, specialist resourcing through our delivery centres, cutting edge legal technology and data science, and a dedicated research and development team who design and build digital solutions with and for its clients. Read more about our Innovation capabilities.