Hogan Lovells and Innovate Finance are pleased to announce they have entered into a Strategic Partnership.
Hogan Lovells and Innovate Finance are aligned in their aim to support and develop the FinTech community in the UK and globally, a growing industry for which Chancellor George Osborne showed his support last week. Speaking at the Bank of England’s Open Forum event on Wednesday he said: ‘I want the UK to be the global centre of FinTech. We will go out of our way to do that. The race is on but we are determined to win it.’
As the first law firm Strategic Partner of Innovate Finance, Hogan Lovells will play a pivotal role in this, working with the full range of players, from start-ups to established financial services institutions and FinTech companies. Hogan Lovells has been at the heart of innovation within the financial services sector for many years, working on a range of developments from the UK's first ever debit card to advising Zopa on the UK's first peer to peer lending platform and Barclays on the launch of Pingit.
An independent not for profit membership organisation, UK based Innovate Finance has over 150 members and acts as a bridge between industry and policy makers, connecting incumbents and investors with emerging companies to facilitate the exchange of ideas and access to capital.
At the intersection of government and business, with approximately 800 lawyers and a presence in all the world’s financial hubs, Hogan Lovells Financial Institutions Sector has an outstanding reputation for combining industry experience with an in-depth knowledge of the regulatory background and TMT sector to provide a unique legal perspective on financial services and advice to clients collaborating with and investing in FinTech.
Announcing the Strategic Partnership at Hogan Lovells Global Payments Conference in London today Alastair Lukies CBE, Chairman Innovate Finance said:
"In the wake of Worldpay's recent landmark FinTech IPO in the UK, the Strategic Partnership with Hogan Lovells will help Innovate Finance on its mission to champion the UK as a global FinTech hub, supporting the growth of innovative FinTech businesses.
FinTech businesses need to contemplate regulation and commercial frameworks to support strategies for today and the next generation. Hogan Lovells are exceptionally well placed to help Innovate Finance support their members’ growth through this fast changing landscape."
Rachel Kent, Co-Head of Hogan Lovells' Financial Institutions Sector, added:
"Hogan Lovells is committed to innovation and the UK is the fastest growing region for FinTech investment, so a Strategic Partnership with Innovate Finance is the perfect fit and an exciting collaboration of shared cultures. At Hogan Lovells we pride ourselves on being at the forefront of market developments and the heart of industry. We relish the prospect of using our legal and regulatory knowledge across the Financial Institutions and TMT sectors to help influence and shape the future of the FinTech industry. Together with Innovate Finance we have a unique opportunity to collaborate with the innovators, disruptors and forward thinkers as well as the established players in this rapidly expanding community which will revolutionise the financial services sector as we know it."
Contributed | what does this mean?