Often the best fintech innovations seem incredibly simple but deceptively complex to implement and maintain and grow.
In fintech there can be a fine line between disruption and breaking the law, as the Australian financial services industry is heavily regulated for the benefit of protecting consumers.
This is just one reason why law firm Cornwalls has signed on as a FinTech Australia Policy Partner and as an event sponsor of The Finnies 2019.
“We understand that sometimes it’s tempting – and there’s a cost imperative – to rely on ‘off the shelf’ open-sourced materials,” Cornwalls’ Special Counsel David Kreltzsheim, said
“There’s certainly a place for that, especially where the founders have legal experience, as many of them have.”
“Beyond that, it is possible to find cost-effective solutions to your business structuring and regulatory questions, if you know where to look and whom to ask.”
Cornwalls has an interest in the growth of the sector.
“Fintech and regtech will be central to how businesses like ours deliver our services in future,” Cornwalls’ CEO Levent Shevki said.
“We have a stake in the future of the Fintech ecosystem.”
Touching on Fintech Australia’s core theme for 2019, Cornwalls’ agrees that collaboration is the way forward for the sector.
Kreltzsheim added: “The Finnies reinforces the collaborative and participatory spirit in the Fintech ecosystem.
“And who knows, an award might be the first step for the next unicorn.”