Mayer Brown advised HSBC on a project to sell and monetise a “Know Your Client” software solution.

The solution combines robotic process automation and machine learning technologies to significantly reduce the time it takes to check the compliance status of clients. The technology was created for and owned by HSBC and is to be developed and marketed to banks and other financial services companies through a joint venture with outsourcing company EXL.

Mayer Brown advised on the terms of the collaboration agreement with EXL to develop and bring the tool to market and to document the share of revenues earned by HSBC based on the uptake and success of the technology with other financial institutions.

The Mayer Brown team was led by London based Intellectual Property & IT partner Oliver Yaros and senior associate Daniel Gallagher.