Bucerius students explore FinTech and financial law in Berlin!

Bucerius students explore FinTech and financial law in Berlin!

Berlin, Deutschland - On May 15, the students of the focus of the Bucerius Law School traveled to Berlin, where they were confronted with exciting insights into the world of fintechs. The excursion began with a reception in the modern office of the Lindenpartner's modern office space in the international trade center. There the guests of Dr. Lars Röh, Daniel Bögeholz and Natascha Schum, all lawyers at Lindenpartners, warmly welcomed.

As part of the event, the lecturers, Prof. Christoph Kumpan and Prof. Lisa Guntermann, presented the participants an introductory lecture. This was followed by an interactive workshop that focused on a current Fintech case. Here, the students were divided into two groups: one group worked on the case from the perspective of a fintech company, while the other perspective of the supervisory authority Bafin took on. This practical approach enabled the students to gain deeper insights into the challenges and regulations of the digital financial market and to understand the importance of digitization for the financial sector.

insights into the regulation and challenges of the fintechs

The importance of digitization for the competitiveness and stability of the financial market is emphasized by Bafin, the Federal Financial Service Supervisory Authority. This institution strives to create legal certainty for companies that work in the FinTech area. FinTech is defined as a technology -based innovation in the financial services sector that produces new business models, applications, processes or products. The regulatory authority informs early and transparently about requirements to optimize the "Time to Market" for start-ups, according to BaFin.

Another exciting item on the program represented the Federal Ministry of Finance. Kaspar Krolop and Dr. Franziska Melcher about her personal career and her tasks in the Ministry. The students were given the opportunity to take tours through the Detlev-Rohwedder-Haus with the ministry staff and to enjoy lunch in the ministry's canteen. In addition, a visit to the Trade Republic office took place, where Dr. Kirsten Donner and Max Willen talked about the activities of the legal department.

The challenges in the FinTech area

The challenge for fintechs is not only in the innovation, but also in compliance with numerous legal regulations, while they develop new business models. One example is the regulation on markets in crypto-assets (mica), which aims to introduce an EU-wide regulation for the crypto area. The approval of the European Union Council for the draft of the Mica-VO took place on October 5, 2022, and a clear regulatory landscape can be expected in the coming years.

Innovative technologies that are used in the FinTech sector include big data, artificial intelligence and blockchain. These technologies revolutionize the financial sector by creating new business areas that include automated investment advice and digital asset management. Despite the numerous challenges, the FinTech sector also contains opportunities for companies in both start-up and established financial institution.

After an intensive exchange and many new knowledge, the students then had the opportunity to explore the capital independently before they left individually. This excursion not only offered the participants valuable insights into the regulatory landscape, but also stimulated the role of the lawyers in a digitized financial world.

For further information on the supervision and the legal framework of FinTechs, interested parties can be interested in the pages of the bafin or from Facultas visit.