Marketplace and legislative changes are presenting financial institutions and other firms with expanded opportunities to capture new business by using emerging payment methods and platforms. At the same time, these changes are expanding institutions' obligations to maintain authentication and other consumer safeguards and increasing the need to use new technology available in the marketplace. Institutions confronting these changes need legal counsel that operates effectively at the interface of technology issues and regulatory and payment-network issues. To add the most value, this counsel must move seamlessly between advisory and transactional representation in areas such as digital, mobile, cloud, and other emerging media and technology platforms.
Davis Wright Tremaine regularly offers such counsel. Drawing on our national practices in technology, payment systems, financial services regulation, and privacy and data security, we have been active in advising financial institutions on issues and projects requiring experience in both technology acquisition/development and financial-services and consumer regulation.
DWT’s financial-institutions technology team has extensive experience assisting financial institution clients with:
- Development and implementation of proprietary software and other technology, including mobile wallets, point-of-sale solutions and commerce engines
- Procurement of technology infrastructure and capabilities
- In-bound licensing, hardware and software acquisition
- Custom systems development
- Telecommunications services
- Technology/hosted services (including software as a service (SaaS and cloud computing)
We combine this technology experience with our expertise in the needs of financial institutions. We work often with industry leaders in Internet and mobile technology transactions, retail payments and the sale of electronic goods, digital wallets, mobile payment platforms, alternative currency systems, and on social media and digital media initiatives. We are well versed in the issues with these systems, the structures of transactions involving them, the emerging privacy and security implications, and other regulatory dimensions.
DWT’s combination of experience and knowledge, both transactional and regulatory, enables us to assist financial institutions with a variety of technology-related projects. Please contact us to learn more.