How WFH Communication is Impacting Law Firms and Legal Funders

By Kris Altiere |

The following article was contributed by Kris Altiere, US Head of Marketing for Moneypenny.

The boundaries between professional and personal life have blurred, largely due to technology and the pandemic, which forced firms to be available 24/7. Since COVID, the number of clients and prospects engaging with businesses at all hours has surged, driven by the adoption of tools like live chat—which, at one point, accounted for 37% of interactions outside traditional 9-to-5 hours. In fact, a Moneypenny study conducted with Censuswide, surveying over 2,000 U.S. consumers, found that 58% of respondents now accept work-related communications outside regular hours. But is this shift a good thing?

Law firms should consider the communication training they give across all situations – how many work calls have been taken in the car, texts responded to at a soccer practice, or emails replied to quickly while at the doctor? Adjusting a firm’s contact channels should include recognizing the strengths and weaknesses of different forms of communication, and thinking about what’s best for clients and the team.

For firms, the “always on” employee presents some potential challenges, starting with the impact on the mental health of someone pressured to forever be on alert for a client or new business. It also can present vulnerabilities – Moneypenny’s research revealed 59% of respondents admitted to commonly sending texts and emails to the wrong person. Or, there is the liability of a stretched team responding to a client with a typo or incorrect information, feeling pressured to get right back and not taken time for a measured response. Along with an increased margin of error, digital communication can lack the emotion of a conversation, or may not appeal as a form of connection from a generational perspective.

Moneypenny looked into the popularity of different forms of work communications. Emails were number one at 49%, followed by the phone at 39%, text messaging at 35%, instant messaging such as Teams or Slack at 19%, and video conferencing like Zoom at 18%. Choices were particular to generations – emailing is the preferred choice for 56% of Baby Boomers and 54% of Gen X, while only 28% of Gen Z prefer it. Instant messaging was a more popular form of work communication for Gen Z (25%), but was chosen by only 16% of Gen X and 13% of Baby Boomers.

Moneypenny encourages firms of all sizes to establish clear communication guidelines that best serve all of their constituents – their teams, their prospects, and their clients. After four years of being on call around the clock, teams are tired. If a firm can have the burden of the 2 a.m. call or chat placed in the hands of a capable and trained legal receptionist like Moneypenny’s, they can ensure it’s not just fielded, but fielded well, and their team undisturbed.

Setting healthy business-life boundaries is a lofty goal that firms should consider setting this year – making themselves a little more unavailable to make themself more available. Fielding a call late at night or during a mad rush does a disservice by potentially inhibiting work flow, mental health, quality and integrity of the work. In what seems like an increasingly scattered world, reclaiming focus by letting someone else “get the phone” could just be revolutionary.

Kris Altiere is US Head of Marketing at MoneypennyMoneypenny’s unique blend of brilliant people and AI technology integrate seamlessly to deliver customer conversations that unlock valuable opportunities for law firms, 24/7.

Kris is passionate about combining creativity and data-driven approaches to deliver impactful campaigns. A natural leader and mentor, she thrives on empowering teams, fostering collaboration, and ensuring Moneypenny’s solutions help firms stay ahead in an ever-evolving market.

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Kris Altiere

Kris Altiere

Commercial

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CAT Hearing for £200m Mastercard Settlement Highlights Divide Between Funder and Class Representative

By Harry Moran and 4 others |

Whilst the successes of collective proceedings supported by litigation funders are regularly highlighted by the legal funding industry, an ongoing dispute at the Competition Appeal Tribunal (CAT) between a class representative and funder over a proposed settlement shows that it is not always a relationship in which both parties see eye to eye.

An article in The Law Society Gazette provides a summary of the ongoing hearing at the CAT, as the tribunal hears arguments as to whether the £200 million settlement in the Mastercard hearing should be approved or not. The hearing, which is scheduled to last until the end of the week, saw counsel for the claimant, defendant and funder each offer their arguments on whether the judges should proceed with the collective settlement approval order (CSAO).

Mark Brealey KC, counsel for class representative Walter Merricks CBE, stated that it was the position of both Merricks and Mastercard that the value of the settlement was “in a range that was fair and reasonable.” Responding to the intervention of Innsworth Capital, the litigation funder opposing the settlement, Brealey argued that “the funder should be respectful of the way that Mr Merricks has conducted the proceedings”.

Charles Bear KC, representing Innsworth as the intervener, highlighted the cost of the funder’s support for the case and argued that approval would mean that “the class does not get a fair return on this settlement on any view of distribution.” Bear went further and emphatically stated that Innsworth’s view is that “it is completely clear the settlement prescribes zero value to the case, not little value, but nothing.”

Sonia Tolaney KC, counsel for Mastercard, suggested that it was the views of the class representative and defendant that should hold the most weight, arguing that “There is no doubt that in this case the parties themselves are best placed to assess the merits [of the settlement].” Tolaney also targeted Innsworth’s questioning of whether the £200 million settlement was the best possible outcome for the class representative, declaring that in Mastercard’s view, “that is the wrong question.”

BNP Paribas’ Securities Services Business Adopts Broadridge’s Global Class Action Solution to Maximize its Clients’ Global Asset Recovery Opportunities

By Harry Moran and 4 others |

BNP Paribas’ Securities Services business, a leading global custodian with USD 13.7 trillion under custody, has partnered with global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR) to expand its global custody services, appointing Broadridge as service provider for its global securities class action services.

“As the Securities Services business of BNP Paribas, we are committed to delivering innovative and differentiating products and services to our clients. Broadridge brings advanced technology, market-leading information security and deep industry expertise that align with our goals, enhancing our clients’ experience and supporting their business,” said Christian Houillon, Head of Custody Product for Securities Services at BNP Paribas. “We will be able to harness Broadridge’s proprietary technology to identify, file and recover investment losses, alongside their extensive industry expertise.”

Broadridge provides a comprehensive, proprietary technology solution for global class action services that will help clients identify and act on asset recovery opportunities. This includes a seamless process for identifying, filing, and recovering investment losses, backed by Broadridge's industry expertise.

“As the volume of securities class actions continues to rise, it’s crucial for the clients of BNP Paribas’ Securities Services business and other global financial institutions to leverage all available asset recovery opportunities,” said Steve Cirami, Vice President, Head of Corporate Actions & Class Actions at Broadridge. “Broadridge’s solutions will enable the clients of BNP Paribas’ Securities Services business to obtain all required information to support their decisions on claim recoveries, facilitate investor participation in settlements and support key business functions, delivering a seamless and impactful client experience.”

Investors have more recovery opportunities than ever before as the class action landscape continues to expand globally with more than 35 jurisdictions around the world adopting collective redress mechanisms for shareholders. In 2024 alone, there were more than 125 recovery opportunities and $5.2 billion in settlements. The ability to monitor all opportunities globally requires leading edge technology and expertise, particularly in jurisdictions where considerations of litigation can be complex to navigate.

Broadridge’s dedicated global class action services team comprises deeply knowledgeable and experienced securities litigators, claims administrators, claims auditors and data specialists, equipped to provide clients with unmatched end-to-end services, portfolio monitoring and claims filing and registering processes in global jurisdictions. Learn more about the team here.

About Securities Services at BNP Paribas (securities.cib.bnpparibas)

BNP Paribas’ Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets.

As of 31 December 2024, Securities Services had USD 13.7 trillion in assets under custody and USD 2.8 trillion in assets under administration.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. 

Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com.

Community Spotlights

Community Spotlight: Craig Geraghty, Legal Director, O’Connors Legal Services

By John Freund and 4 others |

Craig is a highly experienced corporate lawyer and Head of Corporate at O'Connors. His expertise covers a broad range of high-value transactions, including mergers and acquisitions, private equity deals, business reorganisations and restructurings, joint ventures, corporate governance, and regulatory matters. He also has significant experience of advising law firms on litigation funding arrangements.

Craig joined O'Connors from global law firm Bedell Cristin where he handled significant offshore transactional work in their Jersey office. Craig’s offshore experience is a valuable asset, particularly for O'Connors investment fund and insurance practices, while his expertise in litigation funding is a key asset for the firm's legal sector clients.

Company Name and Description: O’Connors Legal Services Limited (which trades as O’Connors). O'Connors is a nationally recognised firm of business lawyers and advisers. Although business sector agnostic, the firm has particular expertise in supporting legal businesses, including law firms, barristers' chambers and claims management companies. Its unique blend of corporate, commercial, insurance, and regulatory legal expertise and unparalleled sector knowledge delivers strategic support and innovative solutions to help legal businesses navigate the legal landscape, manage risk and capitalise on market opportunities.

Website: https://www.oconnors.law

Founded: 2003

Headquarters: Liverpool - additional office in London

Area of Focus: Corporate, Commercial, Commercial Insurance, Litigation Funding, Financial Services and Legal Services Regulation

Member Quote: “We are known as the law firm for law firms and our deep understanding of the legal regulatory landscape means we are perfectly placed to assist law firms in accessing the resources they need to pursue justice through litigation funding.”