Irish fintechs have already broken into the international big leagues and, according to KPMG, Irish fintechs have secured $1.62 billion in new venture capital funding in 2021 alone. But the government needs to do more to fostering and supporting a climate of fintech entrepreneurship in Ireland to reduce our reliance on Foreign Direct Investment (FDI).
The Irish tax system needs a major overhaul to ensure the right incentives are given to fintech entrepreneurs. Likewise, the Central Bank needs to engage more in this expanding area and adopt a more accommodating approach to disruptive fintech players seeking to compete with traditional banks, investment firms, and insurance companies.
Mason Hayes & Curran LLP is at the forefront of advisory and transactional services to fintech companies. We provide cutting-edge advice on the complex sets of legal challenges and opportunities that arise in this area. Fintech sits at the confluence of several areas of law, including financial services regulation, data privacy and IT law. We have subject matter experts in these areas to guide clients through complex and technical legal issues. We are well connected to leading lawyers around the world and can offer our clients global expertise as well as detailed insight into the Irish industry. We work with clients on some of the biggest questions facing any fintech company, including blockchain, data analytics, insurancetech, smart contracts and artificial intelligence.
Our expertise as advisors to fintech companies is centered on our market-leading technology and financial services practice areas. MHC is the go-to firm for multinational technology companies and is well known as Ireland’s leading technology and data protection law firm. We can work with fintech clients at every stage of their legal journey – from start-up to IPO, clearance, new product launches, funding rounds and acquisitions. We see our support of the Irish Times Innovation Awards in the IT & Fintech category as an important part of our contribution to the bright future of fintech in Ireland and we are proud to have played our part in this year’s awards.
Liam Flynn and Rowena Fitzgerald are co-heads of the financial regulatory team at Mason Hayes & Curran.
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