image: @metamorworks | iStock As the legal sector undergoes a digital transformation, law firms grapple with cybersecurity challenges, prompting a shift towards third-party payment providers Although previously considered to be behind the curve, the legal sector is now actively embracing digital transformation. The legal tech market has surged over the past few years as law firms embrace new digital tooling to drive innovation and stay competitive. Digital transformation in the legal sector However, new data generation and management requirements are embedded within this technology transformation. With law firms now responsible for an unprecedented volume of sensitive data, they are grappling with its greatest vulnerability: the challenge of cybersecurity. Recent studies have highlighted this reality, revealing that a staggering 75% of UK law firms have grappled with cyberattacks at some point in the past year , with over three-quarters of these incidents directly impacting client accounts. Law firms find themselves navigating a landscape where concerns about security and risk profiles have reached new heights. There are calls across the legal sector for the implementation of meticulous protocols for handling sensitive client data. At the same time, there is a collective shift toward adopting secure digital solutions for financial management. Spearheading […]
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