Linklaters banks on ITLinklaters last week became the third City firm this year to turn to IT in order to woo banking clients.

The firm has developed a bespoke on-line system - BLUEFLAG World Bank - to assist the International Bank for Reconstruction and Development, better known as the World Bank, deal with bond issues under its global debt issuance facility.

The World Bank is the world's largest source of development assistance providing around $15.3 billion in loans last year.

Nearly 200 issuances were made under its global debt issuance facility last year.Users complete a questionnaire which generates automatically drafted, but specifically tailored, documentation.

According to Linklaters, the site allows basic documentation to be drafted and distributed in less than 30 minutes.

Once distributed, documents can be accessed and amended on-line by those holding the relevant security clearance.The firm joins Freshfields Bruckhaus Deringer, which this month won a contract to develop 'esearch', an Extranet service aimed at helping investment banks develop e-commerce strategies.

Allen & Overy is also developing a risk management service with Lombard Risk Management (see [2001] Gazette, 5 January, 7).Caird Forbes-Cockell, Linklaters' Americas managing partner who led the project, said the battle for clients was moving 'from the boardroom and beauty parades to the Internet'.He said the firm would make no charge for the service when instructed by the World Bank to act on issuances.

However, a 'modest amount' would be charged when the World Bank was using another firm of solicitors, he added.

Sue Allen