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    Invading the Financial Ecosystem with Technological Innovations

    Navigating the EU Legal Framework

    The financial ecosystem as we know it is subject to disruptive technological innovations and this does not only refer to crypto currencies. An increasing number of telco's, IT suppliers and technology-driven service providers, including an enormous number of startup companies, are competing with the more traditional financial institutions in niche segments of the financial ecosystem. As FinTech solutions touch on several areas of EU law both in- and outside the expertise of the traditional tech lawyer, navigating through the regulatory framework is a must to keep track of our tech clients' businesses.

    For example, to assess whether the client's (intended) activities require a license under financial supervision legislation, to verify whether the FinTech solution constitutes an outsourcing and to assess the role of the regulatory authority in that context, or to advise on the impact of (new) rules on payment services (e.g. PSD2) and electronic money (e.g. EMD2). And if all the FinTech solutions have one thing in common: it is all not about the money! FinTech solutions create valuable data, while the re-use of such data for commercial purposes is still a sensitive subject from a privacy perspective. Yet another maze of strict regulations to navigate through.

    To provide some guidance in this respect, Louis Jonker prepared a paper for the ITechLaw European Conference 2015 in London, where he also presented this interesting topic.