A new report published today by TheCityUK, Santander UK and Shearman & Sterling sets out how greater collaboration between financial services institutions and FinTechs can smooth the path to developing innovative new digital products and services.
The report, ‘Transformation and innovation: a guide to partnerships between financial services institutions and FinTechs’, sets out seven possible models for collaboration. Each addresses the common pitfalls and the legal issues that need to be considered to get the most of a partnership. These include intellectual property rights, regulatory compliance and data protection and privacy. This work is part of the Financial Services Trade and Investment Board FinTech programme.