Financial Technology (Fintech)
While the Digital Age has transformed virtually every industry, it has brought the financial industry its own unique set of challenges, as rapid technological innovation drives evolving consumer expectations, security needs, and regulatory pressures. As consumers shift from traditional financial services to mobile wallets, e-payments, digital currencies, and online asset management, the financial services industry is finding that its very existence depends on the ability to use technology to adapt to the evolving and ever-changing, playing field.
Duane Morris attorneys have extensive experience representing clients in the fintech sector, from fintech startups offering a wide-range of new and innovative technologies, to established industry players, including payment processors, credit card issuers, mobile payment providers, stored-value card processors, healthcare payment providers, e-commerce and online retailers, banks, broker dealers, and investment advisers. We are especially adept at helping financial institutions with payment, clearing and settlement issues.
Our multidisciplinary team has a depth of experience advising clients on matters related to:
- Intellectual Property: patent, trademark, copyright, trade secret and other technology disputes and litigation, enforcement and defense, alternative dispute resolution, licensing opportunities and strategies, and patent and trademark prosecution.
- Financial Institution Regulation, Supervision, Examination, Compliance and Enforcement: requirements of the Federal Financial Institutions Examination Council (FFIEC); the Office of Comptroller of the Currency (OCC); the Board of Governors of the Federal Reserve System; the Federal Deposit Insurance Corporation (FDIC); the Consumer Financial Protection Bureau (CFPB); the Securities and Exchange Commission (SEC); the Financial Industry Regulatory Authority (FINRA); the Commodity Futures Trading Commission (CFTC); the Financial Crimes Enforcement Network (FinCEN); the Office of Foreign Assets Control (OFAC); the Department of Commerce; the Department of State; and state law and international law equivalents covering the full range of fintech regulatory and compliance issues, including virtual currencies (especially bitcoin, ethereum and other blockchain technologies), cybersecurity, privacy, data breaches, internal controls, systems requirements, risk management procedures, investor protection, consumer protection, and safety and soundness requirements.
- Transactional: mergers and acquisitions, lending and finance, capital markets, funding and investment opportunities.
We also work closely with industry players as they explore new avenues to leverage innovation in the fintech space. We regularly counsel investors and entities on identifying strategic emerging technologies and partnerships that bring more value, better protection and increased market share to their businesses.