Financial Technology (FinTech) has witnessed phenomenally rapid development, globally and in Vietnam, as the digital revolution continues to alter and redefine the traditional roles and functions of financial services. Since 2014, Southeast Asian Fintech companies have increased venture capital funding from $35 million to $679 million in 2018 and $1.14 billion in 2019. While Singapore and Hong Kong have long been central FinTech hubs in Asia, start-ups from Vietnam and the Southeast Asian region have been attracting more investments in recent years. Significantly, Vietnam’s share of regional venture capital funding devoted to FinTech skyrocketed from just 0.4% to 36% within nine months in 2019.
While the term “FinTech” may sound like somewhat of an obscure practice – the technological aspects of financial services, or the financial applications of technology – potentially making it sound like more of a ‘supporting player’ within the broader future economy. However, the industry has much wider implications that affect all significant financial dealings in firms to day-to-day transactions of individuals. It is thus not an exaggeration to state that in today’s world, FinTech is the cutting edge of the digital economy itself and is an exciting, ever-evolving field.
FinTech is often future-oriented, and the technology doesn’t necessarily always fit within the existing regulatory schemes, and regulations may be scattered amongst other laws. As such, there are a lot of unknowns that banks, investors, insurance companies, financial advisors and others are required to navigate in order to be successful and in compliance with the law. A financial technology lawyer’s role involves communicating with entrepreneurs and translating their visions and plans for regulators. In addition, it is necessary for tech lawyers of practice to interact with regulators and agencies and interpret their guidance and directives for their clients.
Why do you need a FinTech lawyer?
With the increasing demand for FinTech solutions around the world, Corporate Counsels serves as a trusted financial technology law firm for banks, financial institutions, exchanges and online platforms, private equity funds and start-ups. FinTech companies use a variety of technologies, including artificial intelligence (AI), big data, robotic process automation (RPA), and blockchain. Corporate Counsels has been at the forefront of the FinTech revolution in Vietnam and are actively involved in FinTech-related proposals on policy, legislation and regulation. Our financial technology lawyers have experience advising companies on the development and launch of new products or services, as well as assisting investors in identifying and managing risks in the FinTech marketplace. In addition, our team of lawyers has worked with companies and service providers to develop and apply strategic partnering and outsourcing arrangements, as well as created structures for new technological advances that are in compliance with the relevant laws and regulations.
Corporate Counsel’s clients rely on our lawyers’ competence in financial technology and our firm understanding of their markets, business issues, liabilities, risks and opportunities. Utilizing our depth of experience and multidisciplinary approach, we have provided valuable assistance to our clients in taking the initiative and making informed decisions that position them for long-term success.
Here at Corporate Counsels, we have extensive experience advising on FinTech initiatives in Vietnam across a range of sectors, including energy, healthcare, and education. Our team of experienced FinTech lawyers has a deep understanding of the regulatory landscape and is uniquely positioned to advise clients on the Legal issues associated with FinTech businesses. We understand the challenges and opportunities posed by financial technology, and our lawyers are equipped with the skills and knowledge necessary to effectively advise our clients. With a keen awareness of both commercial concerns and regulatory policies in Vietnam, we strive to achieve the best possible outcome for our clients. If you are looking for reliable FinTech legal assistance in Vietnam, contact us today for personalised services that can help you navigate the complex and ever-changing FinTech landscape.
FinTech legal services
Corporate Counsels’ information technology lawyers provide advice to clients on a wide-ranging scope of issues related to FinTech, including:
- Advertising and marketing compliance
- Blockchain advisory services;
- Capital markets and other financing, including venture capital investments;
- Consumer financial services;
- Data privacy and cybersecurity;
- Digital markets, platforms, and infrastructure;
- Financial institution regulation, supervision, examination, compliance and enforcement;
- FinTech-enabled services, including mobile applications and outsourcing;
- Intellectual property;
- IPOs, offerings and exits;
- M&A, dispositions, and joint ventures;
- Anti-Money laundering advisory services;
- Virtual currencies;
- Vendor risk management.