OneRaya

What problem(s) are we trying to solve?

The current legal framework for executing legal contracts is archaic and inefficient due to legacy challenges in the process and limited leverage of technology, leading to confusion and complexities:

• Process Challenges

1. 1. • Inefficient process;
      • Painstakingly slow process/ substantial time spent in contract execution;
      • Involvement of a notary process which require physical presence;

• Technical Challenges

1. 1. • Lack of standard templates;
      • Lack of digital platform to create an agreement, negotiate and close it;
      • Lack of authentic digital signature and affixing stamp paper process;
      • Lack of traceability and accountability in the contract initiation, execution and adherence;

•         Legal Challenges

1. • Inability to identify critical clauses in a contract by a non-legal person;
   • Limitation on contract management/ monitoring;
   • Difficulties in arbitrage and settlement with potential to fraud;

How are we solving the problem?

Our approach to ‘building trust’ works on a legal contracting framework with a ‘Hybrid Approach’ by amalgamating the advantages of traditional and digital processes enhanced by trusted UeSS*

• Democratizing  legal contracting services for all by eliminating the need of a lawyer in most scenarios. 

• Digitalize the agreement process (end-to-end) taking the best of both physical process and digital process.

• Significant improvement in the e-signature process by eliminating the need for a statutory notary process.

• Create unique footprint (UeSS) by capturing the photograph of the signatory along with the e-signature, the date and time stamp and the purpose, in real-time, using physical devices with enhanced authenticity. 

• Provide a natural conversational interface for stakeholder(s) to provide the intent, collaborate to finalize the agreement, guide the process with AI-enabled recommendation, finalize negotiation and closure.