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FinTech

DWT and FinTech
Comprising a cross-disciplinary group of lawyers across the firm and led by partners Andrew Lorentz (Consumer Financial Services) and Wendy Kearns (Technology), DWT has an established, experienced FinTech team that advises companies across the industry on a wide range of matters, including those unique to the FinTech space.

Our clients include financial institutions and technology companies that are developing new products—and new ways to deliver them—at a dizzying rate. Regulators are striving to evolve their models to protect consumers and the integrity of the financial system to keep pace. Aligning business, compliance, legal, and technology functions has never been more critical in this environment, which frequently requires novel strategic collaborations between industries and companies. DWT works every day to assist companies with these challenges and opportunities.

Client Activities in FinTech
Projects for our clients address a wide range of FinTech products and services, including, but not limited to, mobile, in-app, e-commerce or POS payment solutions; digital wallets of all kinds; online financial platforms; innovations in retail banking (such as internet banking); alternative and marketplace lending; P2P money transfers and remittances; bill-payment solutions; crowd sourcing/funding; cryptocurrencies, authentication systems and platforms; transaction monitoring and screening systems; and trading platforms.

We assist clients ranging from early-stage disruptors and established tech companies to leading financial institutions and payment processors with the full range of FinTech-related issues, including regulatory advice, intellectual property counseling, transactions structuring and document drafting, negotiation support, securities matters, mergers and acquisitions, investments, and representation in litigation and enforcement.

Why We’re Different
Our team works together on the multidisciplinary approach required for this practice. We do this across practice groups and across seniority levels, tailoring staffing for each client individually. We spend time each day keeping current on trends affecting the FinTech industry, and we take time to educate all of our internal teams. We distinguish ourselves because we understand—by virtue of our extensive experience—that companies operating in FinTech must get to market quickly with appealing products that meet regulators’ requirements. FinTech companies rely on legal counsel who are quick, who are adept at moving at the speed of business without compromising quality and thoroughness, and who provide high-quality services tailored to client needs. The DWT FinTech team does this by providing clients:

  • Deep experience in payments regulatory issues. Regardless of the technology involved, success in the FinTech industry requires a sound regulatory compliance regimen that accounts for all of the consumer regulations likely to apply to a new product or service. Our FinTech team includes financial services lawyers, former regulators, and former in-house counsel deeply experienced with all of the relevant regulations that underpin the payments system and apply to FinTech products and services. Learn more about our payments practice and for a host of useful information and resources. To learn more about our Payments practice and for a host of useful information and resources, visit the DWT PaymentLawAdvisor.

  • Depth and breadth of technology experience. Our FinTech team includes technology lawyers who are former engineers, programmers, consultants, deal negotiators, and business owners and who routinely advise some of the world’s top technology companies as well as midsize and emerging companies on everything from structuring, documenting and negotiating complex services relationships to SaaS, cloud services, and outsourcing arrangements to complex data-handling arrangements. Learn more about the many ways our technology lawyers work with FinTech companies.

  • Innovative service delivery. Innovation is the foundation of the FinTech industry, and it’s an integral part of DWT’s DNA as well. The ways in which companies purchase and use legal services has changed permanently. To respond, we’ve created DWT De Novo, a research and development function that applies people, process, and technology in new ways to deliver more efficient, transparent, and cost-effective legal services. By doing so, we enable corporate counsel and other executives to add more value to their business and to more easily manage their workloads. Our approach led to DWT being named “Innovative Law Firm of the Year” by the International Legal Technology Association in 2015 and 2016—the first time a firm has ever won the award in consecutive years. Learn more about how we work with clients to find better and more efficient ways of helping them be successful.

  • Customized alternative fee arrangements. Given the diverse array of participants and products in the FinTech industry, a one-size-fits-all fee approach isn’t practical. In keeping with our innovative approach to how we provide legal services, we also work closely with our clients to design fee arrangements that promote efficiency, provide budget predictability, promote the sharing of risk, and provide alignment of incentives between our clients and DWT. We work to develop our clients’ trust by taking a long-term view of our relationship and applying lessons learned from the frequent use of alternative fee arrangements in a wide range of engagements to develop value-based billing arrangements that satisfy the particular needs of our FinTech clients.

If you are in need of services in the FinTech industry, we would enjoy the opportunity to talk to you about how DWT may be able to help you achieve your goals.