Fintech

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Fintech describes software and other technology implemented to support or enable banking and financial services. Often it is used in connection with innovative start-up companies seeking to improve upon and disrupt existing market practice, but it may equally be used with reference to legacy providers developing and using technology to remain competitive and relevant in delivering financial services.

The financial services sector is of particular significance to the UK economy and, in August 2014, the then Chancellor George Osborne declared his intention to make Britain the global centre of financial innovation and announced measures to support the growth of the country’s fintech sector:

‘It’s only by harnessing innovations in finance, alongside our existing world class knowledge and skills in financial services, that we’ll ensure Britain’s financial sector continues to meet the diverse needs of businesses and consumers here and around the globe, and create the jobs and growth we all want to see in the future.’

This fintech subtopic explores the nature of these emerging innovative technologies, the regulatory framework governing them and the supporting measures seeking to promote their benefits to financial service providers and consumers.

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Latest Banking & Finance News

LMA publishes recommendations to further enhance EU securitisation framework

The Loan Market Association (LMA) has published its recommendations to enhance the EU securitisation framework, building on the European Commission’s recent proposal to amend the regulatory framework. The recommendations focus on three core objectives: boosting market confidence, removing investor barriers to provide broader EU access to the global securitisation market and stimulate issuance, and ensuring that capital and liquidity requirements remain proportionate. A detailed technical annex accompanies these proposals, highlighting the need for a clear, consistent, and balanced regulatory framework to restore investor trust and support the development of a genuine Savings and Investments Union in Europe.

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ISDA publishes credit derivatives trading activity report for H1 and Q2 of 2025

The International Swaps and Derivatives Association (ISDA) has published its Credit Derivatives Trading Activity in the EU, UK and US Markets report which provides an analysis of credit derivatives trading activity reported in Europe for the first half of 2025 (H1 2025) and second quarter of 2025 (Q2 of 2025). The report shows that in H1 2025, the UK accounted for 77.4% of European credit default swap (CDS) trading, while the EU made up 22.6%. Across the EU, UK and US, the UK contributed 26% of total CDS traded notional, the EU 7.6% and the US 66.5%. The UK dominated European single-name CDS activity with 98.3%, compared to 1.7% in the EU. Overall, the UK handled 60.8% of single-name CDS trades and the US 38.2%.

European Parliament adopts T+1 settlement cycle for securities transactions

The European Parliament has adopted its first reading position on a proposal to amend Regulation (EU) 909/2014 to shorten the securities settlement cycle from two business days (T+2) to one business day (T+1), with the change set to apply from 11 October 2027. The amendment aims to reduce market risks, improve efficiency and align the EU with global practices. The European Securities and Markets Authority (ESMA) will monitor settlement efficiency during the transition and report more frequently around implementation, while the European Commission may adjust Delegated Regulation (EU) 2017/389 if settlement fails increase. Exemptions include privately negotiated trades executed on trading venues, bilaterally executed trades reported to trading venues, initial book-entry recordings and documented securities financing transactions such as securities lending, buy-sell back or sell-buy back transactions and repurchase agreements.

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