This paper maps, defines, compares, and systematises the US, UK, and Singaporean FinTech centres. The paper’s main objective is to answer the questions; what are the key elements of success of FinTech centres and what is the role of law and regulation in this particular area. Public and private entities, regulators, and policymakers are all involved in building FinTech centres in the selected jurisdictions. The paper is gap filling as no paper has systematised and compared FinTech activities and FinTech centres from a legal-regulatory perspective to date. The paper does not suggest a general FinTech legislation or regulation due to the diverse nature of legal issues emerging in this area. Rather, FinTech activity-specific legal norms can balance the numerous stakeholder interests more effectively. In this ‘testing phase’ of FinTech-related regulatory efforts, country and activity-specific approaches are the best from a risk management perspective as well.
Dr Virág Blazsek is a Lecturer in Commercial, Corporate and Banking Law at the University of Leeds. She writes about business and banking law from a comparative perspective. Her monograph, Banking Bailout Law (Routledge US & UK, 2020), is available in over 130 libraries globally.
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