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.
Red Eléctrica Corporación
on the world's first syndicated loan using blockchain technology. The €150 million loan was engaged from three banks: BBVA, BNP Paribas and MUFG. Negotiations were conducted quickly over the platform developed by BBVA based on distributed ledger technology
The Big Exchange
on the establishment of a fintech platform based on blockchain technology to provide access to social impact investment opportunities for UK retail investors, as well as cost-effective financial services for all, including the 1.5 million people who are "unbanked" in the UK
on its joint venture with DNB Bank
a major financial services company
in its response to issues arising from an extremely problematic migration of data and services from a legacy IT platform to a new IT platform, including to provide advice about contractual rights and remedies and to quickly negotiate several new agreements for technical assistance
a data aggregation and analytics company that facilitates funding of social enterprises, on commercial arrangements, convertible loan notes and redrafting of its constitutional documents in connection with initial investment and issue of shares
a global consultancy firm
on a proposed acquisition of a leading pensions and investments analytics provider in the UK
Nico is a corporate partner based in Frankfurt and specialises in international mergers and acquisitions. He is the managing partner of Herbert Smith Freehills' German offices.