Eigen’s co-founder Lewis Liu was formerly a senior strategic adviser at Linklaters. Nakhoda is being tested across both transactional and advisory departments such as in due diligence. The firm is also exploring its external deployment. The launch of Nakhoda follows similar collaboration between on a solution to help automate banking clients’ decisions on whether they are able to undertake business with an institution under the bank ring-fencing reforms.
The tool, LinkRFI, quickly classifies which institutions are and are not financial institutions within the definitions of the new legislation - in a tiny fraction of the time it would take a human to conduct the same exercise. Essentially LinkRFI sifts through millions of names based on data from a lot of external registers including credit institutions and insurers.