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ARTICLE · 13 APRIL 2017

Fintech's Big Opportunity

Mason Hayes & Curran LLP
Mason Hayes & Curran LLP
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Mason Hayes & Curran LLP

Mason Hayes & Curran LLP

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Financial technology, also known as Fintech, is only getting bigger. Let's Talk Payments estimates that between July 2015 and January 2016 more than $5.5 billion of investments was made in the Fintech sector.

IrelandTechnology
Philip Nolan
Philip Nolan
Mark Adair
Mark Adair
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Financial technology, also known as Fintech, is only getting bigger. Let's Talk Payments estimates that between July 2015 and January 2016 more than $5.5 billion of investments was made in the Fintech sector. Fintech offers the chance to transform financial products and services in payments, insurance, funds & trading and in raft of other connected areas. To fully capitalise on this opportunity business will need to manage the legal and regulatory challenges.

Pace of change

A lot of the technology underpinning Fintech is new and in early stages of development. The pace of change is incredible. Most of the financial services laws and regulations in place today were designed to govern 'bricks and mortar' financial institutions where centralised and limited processing was the norm. As more of our time is spent online, the existing laws and regulations are struggling to keep pace with concepts like crypto-currencies, blockchain, crowd-funding and mobile payments.

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