KorumLegal Consultant: Clara Leung shares how NewLaw and ALSPs are driving innovation and flexibility in today’s legal landscape.

This month, our KorumLegal Consultant is Clara Leung, who is a Hong Kong qualified lawyer with 7+ years PQE. Clara has international law firm and in-house experience, possessing strong analytical and problem-solving skills. She is a strong communicator (fluent in English, Mandarin and Cantonese) and an effective team player, with excellent interpersonal and relationship management skills.

1. Hi Clara! Can you tell us a little about the work you are currently doing and have been doing?

I currently provide legal support to a Global Transaction Services (GTS) team in a major financial institution in Asia. On a day-to-day level, I advise and manage legal risks arising from four main services that the team provides to the institutional clients, including:

1. Cash Management (such as payments and collections).
2. Trade Finance.
3. Securities and Fiduciary Services.
4. Digital Channel Solutions.

2. What made you take the leap into working in NewLaw for ALSPs? And why is it a good fit for you?

Since the COVID-19 pandemic, many organisations have been redesigning their HR policies and freezing headcounts across various functions. NewLaw and alternative legal service providers (ALSPs) provide a more client-centric approach and flexible legal staffing solutions to cater to businesses’ needs. It is a good fit for me because it gives me the direct opportunity to work closely with a specialised business team in a large corporation.

3. What's the most rewarding assignment you've ever had and why?

Recently, I had the opportunity to participate in the Hong Kong Monetary Authority (HKMA)’s e-HKD Pilot Program (Phase 2). In this phase, HKMA invited various industry participants to explore innovative use cases of digital money for both individuals and corporates.

The pilot I was part of partnered with a scalable ESG (Environmental, Social and Governance) reward platform to encourage users to complete green missions. It became especially tangible for me when I downloaded the app on my phone, contributed to recycling in my neighbourhood, and was able to use/redeem my e-HKD vouchers for a “free” (sponsored) milk tea at a restaurant.

4. As an experienced NewLaw/ALSP consultant, where do you see NewLaw/ALSPs fitting into the matrix of the legal sector and how have you seen it evolve?

It appears that corporate clients are increasingly moving away from traditional law firm engagements and turning to NewLaw and Alternative Legal Service Providers (ALSPs). These innovative legal service solutions offer greater flexibility, cost advantages and specialised expertise that are highly valued by businesses today.

5. What trends do you expect to see in the legal services industry in the next 5 years?

The legal services industry is becoming more technologically driven and the adoption of artificial intelligence is becoming more important in order to stay competitive. For example, law faculties in major universities in Hong Kong have recently introduced courses on legal technology.

In the next five years, I anticipate more law firms and multinational companies will invest in AI tools that can significantly enhance their efficiency, such as from legal research to automated summaries, legal drafting, streamlined workflows, and document management. Lawyers will need to get on board in leveraging these technological solutions so they can focus on delivering high value services in this rapidly evolving legal landscape.

6. Your favourite tune? And why? 

Oceans (Where My Feet May Fail). I love the line that goes “take me deeper than my feet could ever wander, and my faith will be made stronger." This song gives me courage and comfort, especially when I feel challenged to step outside my comfort zone.