Palantir Technologies Inc. (NYSE: PLTR) declared that it has joined forces with Akin Gump Strauss Hauer & Feld LLP. Both the firms collaborated to roll out the RegSpot of Akin powered by the Foundry software of Palantir. This software of PLTR will provide Akin Gump an opportunity to get the benefit of sophisticated solutions to fulfill the legal requirements.

This partnership is the first of its kind which will use the Foundry software of PLTR in the legal industry. Foundry software has various features such as auditing features, best-in-class functionalities, and low-code interfaces when consolidated with RegSpot will provide the end client an ability to gain access to solutions of complex legal processes.

Using automated data solutions clients have the chance to handle the earlier unresolved conformity commitments. Not only this but also this partnership will offer the client to get the benefits of a single decision-making platform. Other clients of Palantir are also using the compliance functionalities of Foundry including the anti-money-laundering directive and fraud discovery.

Moreover, the auditing and data protection features of this software make it more attractive for the complicated data ecosystem.  These types of features are very beneficial for the legal ecosystem where confidentiality is crucial for the clients. Shares of Palantir Technologies Inc. (NYSE: PLTR) went down 7.68% at $25.00 during the trading session of Friday. It has recorded a trading volume of 208.95 million as compared to the average volume of 74.37 million at the time of writing.

The first RegSpot module which will be unveiled is a groundbreaking instrument created to provide aid to Akin Gump’s customer's persistence struggles necessary to conform with U.S. government trade restrictions against certain transactions involving "military end use/users" in the defined countries. Palantir and Akin Gump will use their merged domain specialist knowledge and work together to create extra features on RegSpot.