Business customers of a so-called ‘challenger’ online bank will be eligible for online legal support under a tie-up announced today by a digital legal service platform. The arrangement is the latest initiative by LawBite, a subscription service set up in 2014 by barrister Clive Rich.
Cashplus Bank was set up in 2021 by fintech pioneer Advanced Payment Solutions. It claims a 7% share of all new UK businesses. Under the partnership with LawBite, small and medium sized enterprises will be able to download up to five templates from LawBite’s document library, receive a free 15-minute consultation with a lawyer and receive a £15 per hour discount from LawBite’s standard advice rate. The company provides advice through its Solicitors Regulation Authority-regulated firm LawBriefs.
Cashplus said that UK SMEs encounter on average eight legal issues per year and lose up to £13bn by not addressing them effectively. Nick Biggam, commercial and business development director at Cashplus Bank, said the partnership would provide 'vital legal support for small businesses'.
Rich said: 'We are looking forward to rolling out our platform to the Cashplus customer base, offering these businesses with high quality legal advice that may have previously been beyond their budget.'
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