From mobile payment systems to blockchain, the evolution of modern technology has transformed financial services.
The financial services industry has experienced a wave of change and will certainly continue to do so after the COVID-19 pandemic eases. New technology has created, and will continue to create, new ways of doing business. There are considerable opportunities to diversify the way that financial services companies use technology, and we have significant experience working in both these spaces, including support to start-ups and with investors who are taking advantage of these opportunities.
Our team benefits from lawyers with experience advising on various legal aspects affecting the underlying technology of a FinTech, but we offer an additional benefit for businesses looking for a holistic provision of legal advice.
Our experience working with financial institutions enables us to advise on the regulatory issues for clients acquiring and developing technology in the FinTech space. We can also advise you on the contractual, licensing and ownership aspects of technology and services in a regulated environment.
Our clients cover a range of FinTech areas, such as:
- Online platforms (including crowdfunding, lending including peer-to-peer lending, wealth and asset management, digital asset exchanges, and all types of trading platforms)
- Payment services
- Mobile technology (including apps, payment solutions, mobile-based fraud detection technologies)
- Software and app development & exploitation
- Technology infrastructure and cloud
- Cryptoassets and digital tokens
- Distributed ledger technology (including blockchain)
We can advise you on all business issues you may have, whether you are a leading financial institution or a start-up:
- Financial services regulatory advice (including obtaining authorisation, communicating with the FCA and PRA, and advising on UK and EU regulatory compliance such as MiFID, the PSD, and AIFMD)
- Data protection (including GDPR)
- Online safety
- Commercial contracts (including agreements between software developers and users, and customer conditions)
- Consumer protection
- Brand protection and Intellectual Property
- Litigation & Dispute Resolution
- Fund raising (including capital markets and listings)
Advances in technology have changed the ways with which people manage their personal wealth. The growth of robo-advisors and Artificial Intelligence has changed the way that investment managers work, and as new, easy to use, apps emerge every day, the way in which the younger generation manages their money has already changed. The next generation of wealth management will be digital, and existing traditional businesses will need to be aware of this coming change.
In recognition of the growing influence of technology within this space, we have supported wealth managers and individuals with adapting to change through reports such as ‘The Connected Generation’, released in March 2017, stressing the importance of utilising emerging technology in family businesses and succession planning. We have seen this trend evolve into other traditional private wealth business models too, particularly with the growth of millennials seeking digital alternatives to manage their investments.
We understand both sides of the coin, supporting both institutional wealth management businesses and the individuals who utilise these services.