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FinTech

Ireland is widely recognised as a global hub for FinTech ─ a combination of two of the largest industries, financial services and technology into a single field. As home to some of the strongest names in tech, we are at the heart of ICT in Europe with over 430 financial service companies operating out of Ireland.  It is not surprising that many FinTech companies have chosen Ireland as their European headquarters given its access to an educated and skilled talent pool, attractive taxation rates and a multilingual workforce.

The division between financial services and technology is becoming increasingly blurred.  Collaborations between companies in the two areas are now commonplace and such collaborations will facilitate accelerated growth in the future.  Recent events mandated a global increase in demand for a move to digital payments, online banking and technology enabled trading across financial markets.

The Regulatory environment for Fintech may be shifting. In the US and UK we are beginning to see a march by consumer FinTech companies on the traditional banking sector opening an avenue for start-ups to compete with banks on a level playing field.  Will new FinTech companies seek out a national bank charter (as we are seeing in the US) or seek to rely on specialised licenses as we see in the UK and China?

The Government’s Strategy for the development of Ireland’s financial services sector to 2025 highlights the Government’s commitment to the FinTech industry.  Pillar 2 of the strategy focusses solely on technology and innovation in financial services. Technological changes in the financial services sector are expected to be driven by agile start-ups with innovative ideas and large incumbents who will push out advances in FinTech at scale.

RDJ’s multidisciplinary FinTech team understand the breadth of interconnected legal and commercial issues that businesses in the FinTech space encounter including financial services regulation, equity and debt Investment Instruments, cyber and data protection, intellectual property and consumer protection laws.

We advise clients across the financial services and technology sectors, from established financial institutions to start-up companies and investors alike as they navigate and incorporate Reg Tech, AI and Blockchain into their business and continue to accelerate the development of FinTech in Ireland.

We support Fintech clients in the following sectors:

  • Banking and Capital Markets
  • Investment Management
  • Insurance
  • Real Estate

 

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