The financial services industry is experiencing an unprecedented technology revolution. With fewer regulatory constraints and legacy technology burdens than their incumbent rivals, young “FinTech” companies are disrupting established businesses across the financial services industry. Estimated global VC investment in FinTech businesses doubled in 2015, and is currently growing faster than investment in any other “fast-growth” sector. In our view, the impact of the on-going cycle of regulatory change, focus on reducing costs and ever-increasing consumer adoption of digital technology all mean that this trend is set to continue.
Simmons & Simmons’ longstanding focus on the Financial Institutions, Asset Management and Investment Funds and TMT sectors means that we have market leading experience at the confluence of those sectors. By using and combining our expertise within these specialist legal practice areas we are perfectly placed to advise companies in the FinTech sphere, from start-ups to some of the industry’s biggest players.
In May 2016, to demonstrate its commitment to the fast-growing UK FinTech sector, Simmons & Simmons launched a dedicated fund to help promising start-ups solve challenging legal or regulatory problems that could otherwise slow down their development or, in some cases, prevent them from getting off the ground. This is the first solution of its kind offered in the legal industry. More information is available here and a short video containing the thoughts of the founders of the businesses we have selected can be viewed below: