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The innovative business models created by the FinTech industry have significantly disrupted the banking and insurance sector in recent years. A growing number of young FinTech companies are focusing on technical developments aimed at digital transformation. Banks and traditional financial services providers are under pressure to align their products with FinTech models – a trend that will continue in financial technology over the coming years.

In addition to digital asset management, FinTech companies have mostly launched mobile payment methods, financing platforms, cryptocurrencies and innovative payment systems. But overcoming technological challenges is only part of the story. The FinTech industry faces many legal regulations and requirements that every FinTech company must comply with.

Legal expertise tailored to the needs of the FinTech industry

CMS advises banks, financial services providers and FinTech industry start-ups around implementing their digital business models. We provide FinTech companies with legal certainty for their online financial services and payment services via a core team of experienced lawyers. The individual team members specialise in areas including banking law and regulation, corporate law, competition law, IT and data protection law. Where needed, our full-service approach enables us to add experts from other disciplines to our FinTech team on a case-by-case basis. 

Our lawyers not only have in-depth legal knowledge relevant to the FinTech industry, in many cases they also have experience of software development or of launching start-ups in the digital space.

The FinTech industry is global – just like our services

CMS advises FinTech companies both within Germany and internationally. If specific knowledge of a different jurisdiction is required, we bring in FinTech specialists from the worldwide CMS network. Seamless service across national borders is routine for us, rather than the exception.

Please feel free to contact us if you have any questions about FinTech and the associated legal and tax issues.

Contact us!
January 2019
CMS and ING Whole­sale Bank­ing, act­ing in as­so­ci­ation with FIN­ANCE magazine, have pro­duced a B2B fintech study en­titled “Love at third sight – How B2B fintechs and banks get to­geth­er” and are mak­ing it avail­able to the fin­an­cial sec­tor. The study provides in­sights in­to the com­plex re­la­tion­ships between fintechs and banks in the cor­por­ate bank­ing space. It ex­am­ines the po­ten­tial for con­flict and the com­pet­i­tion for the most at­tract­ive cli­ents, while also con­sid­er­ing how al­li­ances can un­lock new busi­ness op­por­tun­it­ies.This is the second mar­ket study of its kind in­to the Ger­man B2B fintech seg­ment and provides im­port­ant point­ers to suc­cess factors and trends. The pub­lish­ers of the study have thus provided a vi­tal bench­mark.“For some time now, we have been see­ing a sig­ni­fic­antly tough­er ap­proach by the reg­u­lat­or. The reg­u­lat­ory frame­work is be­ing ex­pan­ded and BaFin, the Ger­man fin­an­cial reg­u­lat­or, sees more and more fintech activ­it­ies as fall­ing with­in the scope of su­per­vi­sion,” com­men­ted An­drea München, a law­yer at CMS Ger­many. The com­plete in­ter­view with her, along with oth­er in­ter­views on top­ic­al is­sues, ap­pears in the second part of the study.If you would like a PDF copy of the study, please con­tact usTo press re­lease >>
May 2017
First study on the B2B fintech mar­ket in Ger­many: 'Dis­ruptors, En­a­blers,...
Fintechs are cur­rently the sub­ject of a great deal of at­ten­tion: with the pub­lic at large but, of course, primar­ily with­in the fin­an­cial sec­tor. Among the gen­er­al pub­lic, there is hot de­bate around those star­tups that change the lives of savers and private in­vestors – known in the trade as B2C (Busi­ness-to-Con­sumer). However, word has long been out among ex­perts that the real trig­ger for change could lie with the B2B (Busi­ness-to-Busi­ness) sec­tor.This pa­per takes the form of a bench­mark sur­vey. For the first time ever, there is an ana­lys­is of the Ger­man fintechs that fo­cus on B2B. What are the dif­fer­ent cat­egor­ies in the B2B sec­tor? How many fintechs are there in the mar­ket? In which busi­ness areas are they op­er­at­ing? Where are they based? This re­port an­swers all these ques­tions.If you would like to re­ceive the com­plete study as a print ver­sion, please con­tact us: fintech­stud­[email protected].

Die IT-Praxis berät intensiv zu Fragen der Digitalisierung und zählt zu den führenden. Das gelingt v.a., weil sie Teil einer personell starken TMT-Gruppe ist, und die Schnittstellenpraxen – wie beispielsweise zum Bankrecht – integriert. Dabei zeigt CMS immer wieder die funktionierende standort- wie praxisübergreifende Zusammenarbeit. So ist es nicht überraschend, dass Comdirect bei der Einführung eines Robo-Advisory-Produktes auf die Kanzlei setzt.
JUVE Handbuch, 2017/2018
CMS sticht am Markt insbesondere durch die starke Fokussierung auf industrieübergreifende Digitalisierungsthemen hervor, wobei das […] Team besonders tiefe Expertise zu IoT-Plattformen, Fin-, Med- und InsureTech sowie digitalen Innovationsprodukten vorweisen kann.
The Legal 500, 2018


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Study: B2B fintechs still fail­ing to gain trac­tion in 2018
An­bi­eter von in­nov­at­iver Fin­an­z­tech­no­lo­gie („Fintechs“) haben im Firmen­kun­dengeschäft 2018 nicht nach­haltig Fuß fassen können. Zwar haben sich Fintechs und Banken in der Zusammen­arbeit weit­er an­genähert, das an­hal­tend schwi­erige Mark­tum­feld birgt für beid
26 April 2019
CMS Ex­pert Guide to STO reg­u­la­tion and law
Are you look­ing for in­form­a­tion on STO reg­u­la­tion and law? This CMS Ex­pert Guide provides you with everything you need to know.
30 October 2019
Can in­sur­tech of­fer a solu­tion to the find­ings of the FCA’s gen­er­al in­sur­ance...
FCA in­ter­im re­port – gen­er­al in­sur­ance pri­cing prac­tices mar­ket study Earli­er this month the FCA pub­lished the in­ter­im re­port (MS18/1.2) of its Mar­ket Study on Gen­er­al In­sur­ance Pri­cing Prac­tices,...
January 2019
The ten­sion between GDPR and the rise of block­chain tech­no­lo­gies
25 October 2019
Ap­plic­a­tions to co­hort 6 of the FCA’s reg­u­lat­ory sand­box now open
The FCA has opened its ap­plic­a­tion pro­cess for firms wish­ing to join co­hort 6 of its reg­u­lat­ory sand­box (“Sand­box”). The FCA will be ac­cept­ing ap­plic­a­tions from now un­til 31 Decem­ber 2019. The Sand­box...
January 2019
CMS and ING Whole­sale Bank­ing, act­ing in as­so­ci­ation with FIN­ANCE magazine, have pro­duced a B2B fintech study...
16 July 2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Data Pro­tec­tion The European Gen­er­al Data Pro­tec­tion Reg­u­la­tion raises at least two is­sues in par­tic­u­lar in this con­text. First: is pseud­onym­ous in­form­a­tion per­son­al data? Second: how can a “right...
28 March 2018
Ini­tial Coin Of­fer­ings - New means of fun­drais­ing
11 July 2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Rem­ed­ies: In Prin­ciple The ori­gin­al Bit­coin White Pa­per stressed the im­port­ance of trans­ac­tions not be­ing re­vers­ible. Ir­re­vers­ib­il­ity is a func­tion of Bit­coin, de­lib­er­ately de­signed to re­duce trans­ac­tion...
CMS ad­vises Swiss fin­an­cial ser­vices pro­vider SIX on ac­quis­i­tion of Frank­furt-based...
SIX Pay­ment Ser­vices has ac­quired the Frank­furt-based deb­it card net­work op­er­ated by VÖB-ZVD Pro­cessing GmbH, a sub­si­di­ary of Deutsche Post­bank AG...
08 July 2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Jur­is­dic­tion­al is­sues Many com­ment­at­ors note that true de­cent­ral­isa­tion im­plies that en­force­ment of ob­lig­a­tions must be ef­fected through the sys­tem. A per­mis­sioned sys­tem may in­clude con­ven­tion­al gov­ern­ing...
June 2017
Bit­coins, Smart Con­tracts and Pay­ment Ser­vices – The Leg­al Frame­work for...