Financial Technology or better known under the term 'FinTech', is used to describe a business that enables or provides financial services by making use of software and modern technology. Due to our experience in the Technology & Communications sector and the Financial Services sector we can advise you on FinTech transactions and projects.
FinTech is used to help companies, business owners and consumers better manage their financial operations, processes, and lives by using specialised software and algorithms that are used on computers and, increasingly, smartphones. The payment services sector in the CEE has seen a significant change over the past few years due to FinTech. The increasing use of mobile and contactless payments has led to an attitude shift in consumers away from traditional cash payments towards faster and more convenient options. The increase in the use of e-money through different types of devices (whether hardware or software) has also created innovative ways for making payments and creating operating models for financial services firms (such as crowdfunding platforms). FinTech companies have disrupted the financial services sector on a global scale and they have no intention of slowing down.
Our lawyers have advised companies on the development of innovative payment solutions, and have been assisting a wide range of businesses, ranging from household names to start-ups in relation to the regulatory, legal and commercial aspects of their FinTech related businesses.