Legado nears 500,000 users as fintech digitises paperwork

Legado has reported triple-digit growth in its customer base over the past year and is closing in on 500,000 users, as financial services firms increase investment in digital communications and document controls.

The Edinburgh-based fintech sells software that financial institutions use to issue, sign, store and audit customer documents. Its clients include FNZ, Quilter, Scottish Building Society, Moneyhub and Co-op Legal Services.

Millions of documents now run through the platform each month. Legado presents this volume as evidence of a broader shift away from paper and fragmented legacy processes towards managed digital workflows.

Regulatory focus

Financial services firms face growing scrutiny over how they communicate with customers and retain records. In the UK, the Consumer Duty regime has increased attention on clarity and customer outcomes, placing more weight on consistent communications and the ability to evidence processes.

Legado also pointed to changes affecting investment and wealth management. It cited PS25/13 and the need for auditability and oversight of communications in Markets in Financial Instruments Directive-regulated environments. Expectations extend beyond message format to record retention and governance of customer interactions.

Against that backdrop, Legado's chief executive said communications systems are moving from peripheral customer service tools to core operational controls.

"Customer communications are now treated as regulated infrastructure. Boards and executive teams increasingly recognise that how documents are issued, signed, stored and audited is central to governance and operational resilience," said Josif Grace, founder and CEO of Legado.

Paper reduction

Legado highlighted building societies as a sector where document volumes remain high. They distribute millions of paper communications each year, creating an operational incentive to digitise letters, forms and notices, alongside a compliance requirement to record how and when information is provided.

Legado positions its platform as document management for regulated environments, linking modernisation to internal controls such as traceability, retention and audit trails. These capabilities are used in customer onboarding, account servicing and changes that require a clear record of authorisation.

Grace said firms are revisiting older approaches to document handling, where communications can be spread across multiple systems, vendors and manual steps.

"Across regulated financial services, there is growing pressure to demonstrate control over customer data and communications. Institutions are reassessing legacy processes and investing in secure digital environments that can withstand regulatory scrutiny while improving operational efficiency," he said.

Product direction

A key product line is LegadoSign, described as more than an e-signature tool. Legado expanded the product through 2025 and positioned it as part of embedded workflows within digital customer journeys.

This approach places signing within a broader sequence of document creation, distribution and record-keeping. For financial institutions, that framing matters because signature collection is often tied to other controls such as identity checks, version management and an auditable record of what was signed and when it was issued.

Legado has not disclosed revenue, pricing or profitability, nor provided a breakdown of users by client, product or sector. The user figure indicates adoption across institutions using its software for customer communications and document processes.

Market expansion

For 2026, Legado plans to scale its embedded workflow offering, deepen partnerships in the building society sector and broaden its presence across regulated financial services. Target areas include savings, lending, investments and wealth management, where communications and record-keeping support compliance and dispute resolution.

Legado was founded in 2019 and is headquartered in Edinburgh. Grace previously worked as chief of staff at RocketSpace in San Francisco.

Demand is being driven by a reassessment of customer communications within regulated firms, with boards taking a closer interest in how documents are controlled across their lifecycle.