The global financial services industry has never been more dynamic. Rapid developments in technology, consumer preferences, competition from new entrants, and regulation have combined to create a thriving global fintech sector.
Our cross-practice team guides our clients through this rapidly evolving sector. We provide tailored legal services to sector participants including incumbent banks, growing fintech businesses, challenger banks, insurance companies, asset managers, payment and technology services providers, telecoms operators and investors. We have expertise in all relevant practice areas, with market-leading teams in corporate, finance, technology, cyber security, data protection/GDPR, IP, commercial, financial services regulation, capital markets, competition, insurance and asset management.
Our work includes advising in relation to:
- payment services
- exchanges and platforms
- big data and analytics
- cloud computing
- major digital transformation projects
- artificial intelligence, machine learning, robotics and automation
- blockchain/DLT/virtual currency
- crowdfunding, P2P financing and ICOs
- corporate and debt funding solutions
We have worked on ground-breaking deals, including the establishment of ClearBank, the first new UK clearing bank for 250 years, and fundraisings for the growing challenger Tandem Bank. We have especially deep experience on IT and outsourcing issues arising out of separations of new players from major institutions, such as the separation of TSB from Lloyds Banking Group and the development of a digital banking platform.
For all of our fintech clients, cyber security and data protection are primary risk issues. Our cyber and data teams operate as an integrated offering, both on transactions and standalone cyber and data defence projects such as the Cyber Defence Alliance.
This range of expertise and experience enables us to advise clients on both their strategic objectives and their particular legal challenges.
an investment bank
Advised on its minority investment in a UK start-up focused on the provision of financial grade blockchain technology for settlement and payment activities.
a Dublin Exchange
Advised on the setup of a clearing exchange for foreign exchange and cryptocurrencies in Hong Kong
Advised on its establishment as the UK's fifth clearing bank and the first new clearing bank in over 250 years, transforming the digital clearing bank market with a modern, purpose built and cloud-based digital banking platform.
TSB Bank plc
- its separation from Lloyds Banking Group and on its £2 billion long term outsourcing arrangements for the entirety of TSB's banking operations, covering all critical IT and business services, one of the largest financial services outsourcings in the market
- the design, build and proposed subsequent migration to a new digital banking platform
Advised on the launch of Apple Pay and subsequent regulatory issues.
consortium of international banks
Advised on establishing the Cyber Defence Alliance – a cyber security intelligence sharing joint venture.
Nico is a corporate lawyer based in Frankfurt and specialises in international mergers and acquisitions. He is the managing partner of Herbert Smith Freehills' German offices.