Digitisation of the notary profession: Banque des Territoires invests in FoxNot

On 4 June at the Notary Congress, Banque des Territoires announced that it was taking a €2mn stake in FoxNot. FoxNot offers a digital platform that allows any notary and his clients to access an innovative digital service to streamline processes and dematerialize information.

Banque des Territoires
05June2019

Numérique

A young innovative company in the LegalTech field, FoxNot was created in 2015 by notaries for notaries and now has 150 in its share capital.

 

It was important for the company to open its share capital to other stakeholders from the notary ecosystem. This was accomplished with the entrance of Banque des Territoires, which identified FoxNot as one of the stakeholders capable of contributing towards digital transition to promote more attractive and better-connected territories.

 

One practical example of this: the FoxNot platform allows clients of notaries or real estate professionals to complete an online file prior to the drafting of acts. FoxNot completes this information by automatically collecting items from the administration. After performing checks, the notary public directly deposits all of this information the software he/she uses to draft acts. This approach is already being used by many notary public offices for real estate transactions, inheritance and real estate development.

 

What is LegalTech? It is the sector which uses technology, and particularly the Internet, to provide legal services. This activity sector was born in Anglo-Saxon countries in the early 2000s and is developing worldwide, particularly in France.

 

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