Introduction
At the tail end of 2023, the fintech sector is in flux. Significantly exposed to a climate that has seen funding dry up and the tech sector affected with falling valuations, combined with a year that has seen the collapse of Silicon Valley Bank, the conviction of Sam Bankman-Fried of FTX and Binance founder Changpeng Zhao pleading guilty to criminal charges, many have felt that prospects for fintech have tightened up.
But how bad is it really?
To help fintechs and the partners that work with them, as well as other larger institutions operating in this space, this report looks at how the UK's leading fintech legal and regulatory teams see the market right now. We draw on feedback, insight and commentary from attendees at Crafty Counsel’s Fintech Day 2023, and lawyers in the fintech space, including perspectives from the market-leading fintech team at global law firm Clifford Chance.
A cross section of the sector
Crafty Counsel’s Fintech Day 2023 attracted representatives from a wide range of organisations across the sector, including Monzo, BNP Paribas, Algbra, Checkout.com, Greyhound Capital, Mastercard, Standard Chartered Bank, Bitstamp and YouLend. With over 100 fintech in-house lawyers in the room, plus representatives of major law firms and others from the sector, topics discussed included AI, global growth, team management, crisis response, M&A and fundraising.
in-house legal professionals from Fintechs, banks, and investors.
