Fintech—Ireland—Q&A guide

The following TMT practice note provides comprehensive and up to date legal information covering:

  • Fintech—Ireland—Q&A guide
  • 1. What is the general state of fintech innovation in your jurisdiction?
  • 2. Do government bodies or regulators provide any support specific to financial innovation? If so, what are the key benefits of such support?
  • 3. Which bodies regulate the provision of fintech products and services?
  • 4. Which activities trigger a licensing requirement in your jurisdiction?
  • 5. Is consumer lending regulated in your jurisdiction?
  • 6. Are there restrictions on trading loans in the secondary market in your jurisdiction?
  • 7. Describe the regulatory regime for collective investment schemes and whether fintech companies providing alternative finance products or services would fall within its scope.
  • 8. Are managers of alternative investment funds regulated?
  • 9. Describe any specific regulation of peer-to-peer or marketplace lending in your jurisdiction.
  • More...

Fintech—Ireland—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to fintech in Ireland published as part of the Lexology Getting the Deal Through series by Law Business Research (published: July 2020).

Authors: Matheson—Liam Flynn; Lorna Smith

1. What is the general state of fintech innovation in your jurisdiction?

Ireland has a very active fintech scene and is one of the leading jurisdictions for fintech start-ups and corporate innovation in Europe. In addition, with the impact of Brexit still to be determined, many payments and e-money firms that previously provided services across the EU via a UK payments or e-money licence have sought to obtain authorisation by the Central Bank of Ireland (the Central Bank) so as to ensure continuity of operations. This has led to a very significant increase in the number of licensed payments and e-money firms, to 18 and 12 respectively, and there are multiple further licence applications in the pipeline. Examples of some of these companies that have chosen Ireland as their EU hub are Stripe, Google Payments, Western Union, Currency Fair, Paysafe, Coinbase and Facebook International Payments Limited.

Ireland has won an outsized share of European investment in corporate innovation labs, with many global financial services groups establishing their innovation labs in Ireland. Accelerator programmes are also expanding their activities in Ireland, with Dublin being added as one of two accelerator locations by the NadiFin

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