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ARTICLE · 23 NOVEMBER 2020

Key Negotiation Issues For Online Intermediary Services ("Platforms") In Financial Services

Mayer Brown
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Banks, insurance companies and other financial institutions are providing more and more of their financial services online to compete in today's digital economy.

United StatesFinance and Banking
Julian M. Dibbell
Julian M. Dibbell
Rohith George
Rohith George
Joe Pennell
Joe Pennell
Brad Peterson
Brad Peterson
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Banks, insurance companies and other financial institutions are providing more and more of their financial services online to compete in today's digital economy. In many cases, this is accomplished through websites and mobile apps that the financial institution develops and operates itself. However, as fintech companies create online platforms with features and functions that today's customers prefer, we are seeing financial institutions increasingly contract with fintechs to act as online intermediaries to serve and interface with their customers. These platform arrangements present unique issues for both the financial institution and the fintech as they attempt to align sometimes divergent interests to achieve a successful outcome.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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