Legal advice for FinTech

In the era of digital transformation of the financial sector, FinTech enterprises face unique regulatory and legal challenges. The dynamic development of financial technologies, from mobile payments to blockchain and cryptocurrencies, creates a need for a deep understanding of both existing and evolving legal regulations. On the one hand, these regulations aim to protect consumers and the stability of the financial system; on the other, they form the basis for innovation and growth in the FinTech sector. Finding a balance between innovation and regulatory compliance requires legal support that not only safeguards against risks but also enables the full potential of new technologies to be utilized.

In this context, the legal support offered by GLC becomes a crucial element of the strategy of any enterprise operating in the FinTech space. Our services are designed to help clients understand and navigate the complex regulatory landscape, both locally and globally. GLC specialists, with their knowledge and experience in financial law, technology, and data protection, provide comprehensive legal services that enable FinTech enterprises to focus on innovation and growth.

In the world of FinTech, where innovations are changing the face of traditional financial services, legal support that enables safe development and the introduction of innovative solutions becomes crucial. The regulatory environment, constantly subject to change, requires businesses not only to maintain current compliance but also to proactively address future legal challenges. GLC specialists, using their experience and knowledge, offer services that ensure our clients operational stability and confidence in a changing regulatory landscape.

Our services:

• Preparation of internal procedures related to the provision of payment services, ensuring compliance with current legal requirements and best industry practices;
• Implementation of financial and operational risk management systems necessary for entities providing payment services;
• Development of a payment institution management system, risk management system, and internal control procedures;
• Comprehensive support in developing internal procedures for payment institutions;
• Conducting compliance analyses of activities with legal regulations, requirements, and recommendations of the Financial Supervision Authority, enabling the identification and elimination of potential risks;
• Assistance in obtaining authorizations for a National Payment Institution or a Small Payment Institution, including the preparation of necessary documentation and representation before regulatory authorities;
• Advisory on the implementation of GDPR regulations in the context of processing customer data for payment services, including the implementation of appropriate privacy protection policies;
• Development of compliance strategies with AML and KYC regulations, including due diligence and transaction monitoring procedures, crucial for the FinTech sector;
• Organizing training for teams responsible for providing payment services, enhancing awareness and competencies regarding applicable regulations;
• Negotiating contracts with suppliers and business partners, ensuring the protection of rights and interests of FinTech entities in commercial relationships;
• Implementing procedures for handling security breaches or other incidents, minimizing potential damages and ensuring a rapid response.