24 September, 2018
Shearman & Sterling launched “the FinTech Foundry,” a program dedicated to supporting the FinTech-related activities of their clients and the wider global FinTech ecosystem that consists of financial institutions, FinTech start-ups, accelerators and incubators, venture capital and private equity investors and policymakers.Blockchain, crypto assets, big data, and artificial intelligence are just a few of the FinTech activities Shearman & Sterling advises on.
Donna Parisi, Global Head of Shearman & Sterling’s Financial Services and FinTech group said “The core proposition of the FinTech Foundry is our ability to provide opportunities to connect, share insights and provide legal advice to the innovators shaping the future of financial services. With this new innovation come challenges, and having the right legal support from the onset to guide clients’ business decisions on what’s driving the industry is key.”
Closely related to the swiftly changing business environment, is a rapidly evolving regulatory landscape. As financial technology companies continue to grow in size and scale, federal and state regulators are grappling with how best to foster innovation while protecting consumers and avoiding systemic risk. As a result, FinTechs are facing an inflection point regarding launching new products and technology amid a complex and ever-changing regulatory environment. Legal guidance and mentorship for traditional financial services firms as well as emerging FinTech companies is critical.
"Launching a global program that brings together all our existing expertise in FinTech is a natural progression for us. With our global footprint in key FinTech markets including London, the Bay Area, Austin, Singapore and Washington DC clients can rely on us to be in front of the legal and business issues impacting the industry” said Senior Partner at Shearman & Sterling David Beveridge. David further adds, "The launch of the FinTech Foundry program aligns with our strategic growth plan and more importantly the direction in which the industry is heading. This is exemplified by the recent addition of our Austin, Texas office, where our attorneys have strong emerging companies, technology and FinTech focus, and bring a wealth of expertise and experience to FinTech start-ups."
The Fintech Foundry will consist of three pillars:
Community support – to provide FinTechs and the broader ecosystem access to curated events and an opportunity to make new connections in the industry, the firm is launching the Shearman & Sterling FinTech Salon event series.
Thought leadership – to provide clients and FinTechs with access to the most relevant knowledge and intelligence to help them navigate the changing financial services landscape. The firm’s FinTech Insights, including collaborative industry reports and various forms of thought leadership, will be available on the firm’s FinTech webpage.
Mentorship & advice – to support the growing FinTech sector, the firm is launching the Shearman & Sterling FinTech Advisory mentorship program dedicated to supporting FinTech startups shaping the future of financial services.
