Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Fintech definition

What does Fintech mean? In legal practice, fintech describes technology‑driven activities that deliver, enable or improve financial services across banking, payments, insurance and investment for retail and corporate users. It is not a defined legal term in UK or Irish legislation or case law, but a descriptive label used across multiple regulatory and contractual contexts. Work typically concerns whether the model sits within the regulatory perimeter and needs authorisation or registration, for example under the UK Payment Services Regulations, Electronic Money Regulations, FSMA permissions, insurance distribution, consumer credit, or EU/Irish regimes implementing PSD2, the Electronic Money Directive, MiFID II and the Insurance Distribution Directive. Common...

UK fintech, cryptoassets and AI regulation: FCA, BoE/PRA and PSR initiatives, sandboxes (regulatory, digital and FMI), RegTech and Big Tech competition

Published by a LexisNexis Financial Services expert

Practice notes

Scope of this Practice Note

This Practice Note explores the measures that have been adopted by the UK government and by financial watchdogs—particularly the Financial Conduct Authority (FCA), the Bank of England (BoE) (including the Prudential Regulation Authority (PRA)) and the Payment Systems Regulator (PSR)—to foster innovation in the UK financial technology (Fintech) market, and to do so within a well‑regulated framework. It outlines the leading financial innovations; charts the current position of the fintech sector and the successes achieved to date; considers the future prospects together with the associated risks linked to financial innovation; and sets out the regulatory approach that is intended to stimulate the development of, and investment across, the fintech industry. It also examines the part played by financial regulators in response to the growing use of artificial intelligence (AI). Fintech covers a wide spectrum of financial services and products that intersect with technology. These include crowdfunding platforms such as peer‑to‑peer lending, online payments and credit services, digital wallets and e‑money, automated or robo investment advice, AI, big data analytics, blockchain and cryptoassets. Although these offerings differ, they each harness technology to deliver traditional financial services in a more cost‑effective, accessible and consumer‑friendly manner; or to facilitate...

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Web page updated on 22/05/2026

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