FinTech Report 2025

From wait and see to momentum: the next phase for the FinTech market!?

Over the past few years, the FinTech market has moved from excitement to caution, facing a mix of economic challenges and an expanding burdensome regulatory agenda. That caution, however, is (hopefully) giving way to renewed momentum. Klarna’s IPO is a sign of a market that has reset and is now picking up pace, including more to come, within FinTech. We see deal flow, investments cooperation returning, and a more practical focus on resilience and compliance as drivers of competitive advantage.

At the centre of this next phase for the FinTech market is artificial intelligence (AI), which is accelerating product development and service delivery, while also raising regulatory and practical questions about the legal implications of developing or integrating AI solutions. Navigating complex, evolving and often cross border legal and regulatory frameworks alongside rapid technological change is a major contemporary challenge, extending well beyond the context of AI.

Much of the current framework is still relatively new, and the market has not yet developed settled practices or common interpretations. At the same time, a broader regulatory shift is under way. Efforts to simplify regulation across Europe, including the policy debate following the Draghi report, sit alongside continuing uncertainty over how rules will be interpreted and applied to FinTechs.

As a result of these observations, we have chosen to highlight some hot topic regulatory issues and trends in this year’s FinTech Report. Our aim is to provide guidance within the commercial technology regulatory field based upon our daily work experiences with the FinTech industry.

Without further delay, it is our pleasure to present to you Setterwalls’ FinTech Report 2025. We hope you find it to be both insightful and enjoyable.

• Sealing The Deal: Contractual Must knows When investing in Ai Solutions
• One year of simplification – What is the impact on European FinTech?
• Back to School – From Classroom to Boardroom, a Practical Guide to Digital Operational Resilience Training under DORA
• Demands for Accessibility in the Provision of Financial Services and Processing of Sensitive Personal Data: The Balance of Regulatory Compliance
• Balancing Security and Privacy: A Guide to Background Checks for Swedish FinTechs

Yours sincerely,

Joacim Johannesson
Partner, and Head of Setterwalls’ FinTech team