Legal Tech goes Banking: A joint initiative of fwp and Future Law

Vienna, April 2019. The joint digitisation initiative related to the banking and finance sector, started by Fellner Wratzfeld & Partner Rechtsanwälte (fwp) and Future Law, has seen its kick-off.

Currently, there is hardly a topic as strongly discussed amongst lawyers as the digital transformation of the legal sector. One scope of application of legal tech is digitising legal services to simplify the interaction between attorneys-at-law and their clients as well as bring about gains in efficiency, in particular with respect to standard applications. However, the range of possible fields of application is much wider, which results in an enormous potential for innovation. The same is true, in particular, for the banking and financial services sector which, unfortunately, is also affected by the fact that technological development tends to always be one step ahead of the legal and regulatory framework.

Being one of Austria’s leading business law firms concerned with providing advice to the banking and financial services sector, fwp finds itself at the heart of this development. This is why, together with Future Law, fwp initiates a legal tech digitisation focus in the banking and finance sector. “The goal we share with players from the Austrian banking and finance sector is not only to identify the potential for innovation held by legal tech , but also to make it concrete, and to set out a clear framework and choose the best solutions”, fwp partner Markus Fellner highlights one of the goals of this initiative and adds: “With Future Law and its founder, Sophie Martinetz, we now have a strong cooperation partner on our side, which makes us particularly happy.”
In addition to comprehensive market analyses, joint activities are envisaged to also comprise expert events. In this context, fwp can draw on its international network specialised on providing advice in the field of banking and finance.