FinTech Report 2023

Compliance, Compliance and Compliance! 

In the ever-evolving FinTech landscape, 2023 is the year of regulatory reflections and as such this is the principal area of focus for this report. Navigating complex (both existing and new) legal and regulatory terrain (often cross-border) which accompanies rapid tech transformation, is indeed a huge contemporary challenge. Thus, we believe it to be topical to elaborate upon upcoming new legislative requirements and trends. Our regulatory focused report also includes a complementary interview with Qliro and its day-to-day ‘best practice’ compliance guidance.

Despite the heavily regulatory focus, it would be remiss of us to not also afford adequate attention to the new “Sheriff in town”, namely Artificial Intelligence (AI). We therefore also dedicate space in this report to allow us to reflect on AI’s exponential rise and the legal implications of its seemingly limitless applicability.

Please do join us on a high-level journey through the legal dimensions of FinTech in 2023. We seek to explore the intricate interplay between innovation and regulation, and the pivotal role that legal frameworks play in shaping the future of FinTech and its ancillary evolutions, such as AI. Thus, we hope to empower FinTech industry stakeholders with the knowledge and tools needed to thrive and drive positive change throughout the ecosystem.

So, without any further delay, it is our pleasure to present to you Setterwalls’ FinTech Report 2023. We very much hope that you will enjoy it!

• Important take-aways of the EU Commission’s proposal for a new Payments Package
• Tokenization of Financial Instruments: The Future of Finance?
• Consumer terms in the crypto market – the Swedish Consumer Agency’s review and conclusions of crypto-asset intermediaries’ terms and conditions
• Building a strong foundation: how legal best supports first line operations for business success – interview with Qliro
• Unraveling DORA: Cyber Resilience Requirements in Digital Finance
• Open Finance under FIDA – What to Expect from a Swedish Perspective
• Generative AI is here – what to consider for companies when using generative AI technology.

Yours sincerely,

Joacim Johannesson
Partner, and Head of Setterwalls’ FinTech team