What can LegalTech learn from FinTech?

What can LegalTech learn from FinTech and is the SRA safe space enough to truly drive innovation?


What drives FinTech - More people than ever are comfortable using alternative products and place trust in Technology companies rather than Banks. Customers will trade the traditional notion of quality for the current expectation of ease, and Open Banking/PSD2 will encourage banking as a platform.


I understand that the product being consumed is different, but we must also understand that the consumer of that product, be it a business or individual is not.


Regulation is put in place to protect and enable the consumer - eventually the SRA and other regulatory bodies will change the rules to properly codify the most popular waivers sought from use of the safe space and beyond.


This change will probably happen in an incremental fashion, which will push innovators into the openings as they are found - Perhaps they will look to any advantages that can be found either side of Legal advice in the supply and value chain in both B2B and B2C interactions? Perhaps they will look at other regulatory bodies such as IPREG to see what openings there are in Intellectual Property?


What do you think?


Keywords: #DigitalTransformation#SRA#IPREG#FinTech#LegalTech