FINTECH

BUSINESS

The financial technology (“fintech”) sector has experienced rapid growth in recent years around the globe. There have been considerable developments in the Czech Republic as well with number of successful players both from the fintech startup and financial institution segments. Fintech and the use of digital innovation in finance typically cover a wide range of activities, services and matters, such as payments, financing, consumer finance (P2P platforms), asset management (robo-advisers) or cryptocurrencies and ITO/ICO. We have strong experience and the knowledge necessary when advising fintech entrepreneurs and financial institutions in corresponding legal matters in order to help them to boost their business and to develop their services.

REGULATORY

Fintech as a relatively new phenomenon often lacks clear regulatory framework. However, since it usually operates in the financial services industry, it might be subject to a huge set of financial regulatory rules, such as regulatory rules on payments, consumer lending, investment services, raising funds from investors, data protection or AML/CFT. At the same time, a lot of new regulations are being drafted and discussed. We provide comprehensive guidance to both fintech startups and financial institutions in order for them to achieve full compliance with any applicable regulatory rules in the most efficient way possible.

KEY AREAS

We help fintech startups, financial institutions and other fintech players in wide range of areas, such as:

  PAYMENT SERVICES

Our services involve regulatory guidance and legal advice for payment and cash management services providers, PISPs and AISPs, including the preparation of application for licenses from the Czech National Bank (CNB), provision of external compliance services, drafting of T&Cs and other relevant documents with the customers complying with AML/CFT and data protection rules.

ITO/ICO AND CRYPTOCURRENCIES

As legal advisors we have been focused on the various legal and regulatory issues connected to the crypto and blockchain technologies from the outset of this industry in the Czech Republic. We advise on a wide range of legal matters concerning cryptocurrencies whether such matters stem from financial regulation (e.g. AML/CFT rules) or from the civil law. As one of the few advisors we have a deep understanding of the process leading to initial token offerings and its regulatory consequences.

 CROWDFUNDING AND PEER-TO-PEER LENDING PLATFORMS

We provide complex legal and regulatory advice to online crowdfunding and peer-to-peer platforms, such as equity, debt or hybrid investment crowdfunding platforms, or peer-to-peer lending systems (including intermediation of investments into loan receivables).

COLLABORATION BETWEEN FINTECH AND FINANCIAL INSTITUTIONS

Fintech startups often struggle to collaborate with banks or other financial institutions. Such collaboration is often key for their business success. Using our insight into internal needs and requirements of Czech banks we help our foreign and domestic clients to establish such cooperation (which includes opening of the relevant bank accounts) and to benefit from the new open banking playing field.

 M&A AND FINANCING

We provide expert advisory services in relation to acquisitions of fintech startups, including due diligence, assessment of financial regulatory risks and transaction structuring. We advise on various forms of financing and investment into interesting fintech projects.