MARCH 2017
30
INHOUSE
EVERY LAWYER must manage client ex-
pectations, but nowhere more than in the
fast-moving world of fi nancial technology.
One company, a fi ntech business, met with
Kashif Zaman with a list of things it wanted
to accomplish.
"I said 'you can do them, but for some
of them, you need to be a bank,'" recalls
Zaman, a partner in the fi nancial services
group at Osler Hoskin & Harcourt LLP.
"OK," said the young, hungry and entirely
unfazed client. "How do I become a bank?"
This type of conversation plays out more
often in legal offi ces than one might think.
Fintech fi rms are disruptors. Typically for
startups, their business is built on revamp-
ing entrenched business models, target-
ing the traditional fi nance sector with new
technology solutions. They bring their own
challenges for Canada's lawyers.
Fintech is a potentially lucrative industry
for lawyers who understand the nuances of
the business. Thomson Reuters analyzed
PitchBook, the data source on investment
activity used by the U.S. National Venture
Capital Association, and found a 35-per-
cent increase in Canadian fi ntech invest-
ments during 2016, reaching $137.7 million.
Five years ago, Canadian investments in
the sector reached just $21.8 million. Many
Passing the fintech test
Fintech is a challenging but exciting new industry that
offers creative opportunities for lawyers.
BY DANNY BRADBURY
