Banking & E-Commerce Lawyers Germany

Schlun & Elseven delivers strategic, business-oriented banking law advice to German and international clients. Our lawyers advise on financing transactions and e-commerce law as well as on topics such as complex debt restructurings and equipment leasing. Our banking lawyers in our offices in Cologne, Aachen, Düsseldorf, Frankfurt, Munich, Berlin Hamburg and Stuttgart have an integrated national practice that seamlessly provides and coordinates legal services for our clients throughout Germany and around the globe.

Banking Law Today: Online Purchasing Power

The way we buy goods and shop has changed dramatically during the last few decades. Customers seek more convenient, faster and cheaper forms of transaction. Today the majority of global trade and commerce is taking place online. Therefore the online appearance of the financial and banking sector is also altering. Developments like Financial Technology  – FinTech – or digital currencies such as Bitcoin are likely to restructure the whole financial sector. It is growing and compelling field for investors, founders of start-ups, banks and financial companies. However, new opportunities also imply new legal risks and challenges.

Risks and Challenges Involved with E-Commerce and Online Banking

As consumer protection is the basis for most of the regulations concerning E-Commerce and banking, consumer rights violations can arise quickly. This applies in particular in cases involving online marketing. Sending newsletters about new financial products requires the consent of customers to use their personal data. In order to gain a valid consent, contracts and data protection agreements need to be consistent with current legislation. Challenges due to different regulations applicable – on national, European and international level need always to be considered thoroughly to avoid any infringements.

As an owner of an online & financial business, there is also the risk of being the target of a cyber criminal act. Customers’ data can potentially be stolen. This risk arises for everyone in this sector from the most powerful banks to the smallest of those in the E-Commerce arena. It is the financial services provider’s responsibility to offer security for online financial transactions and data protection when it comes to financial operations. The question of whether the business fulfilled all its legally required responsibilities for data protection should be answered quickly, so that companies can progress with knowing whether they can be held liable.

Our Law Services: German Banking and Finance Sector

While E-commerce developed further, the legal implications stood behind. It is typical that the law needs more time to adjust, but especially because of that it is important that you have a law firm at your side which is competent in working in new legal fields. New online business possibilities such as offering online financial consulting or mobile payment need to be incorporated into existing contracts and agreements and above all must be consistent with the applicable law. We are experienced in drafting contracts for new financial service products and we will help you find a legal solution that fits individually to your business.

Our services in the field of German banking and finance include but are not limited to:

  • Corporate banking
  • Examine consistency with the European Payment Service Directive as well as national and international directives
  • Legal regulations regarding E-Commerce
  • Data protection
  • Financial watch
  • Cyber security
  • Capital markets and financial instruments

Content Overview

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Practice Group for Legal Services in the Banking and Finance Sector: E-Commerce and Bitcoin

Rechtsanwalt Aykut Elseven

Aykut Elseven

Rechtsanwalt Jens Schmidt

Jens Schmidt

Rechtsanwalt Dr. Thomas Bichat

Dr. Thomas Bichat

Contact our Practice Group for German Banking & Finance Sector

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Schlun & Elseven Rechtsanwälte PartG
Königsallee 60F
40212 Düsseldorf
Tel: +49 211 882 84196
Fax: 0221 932959669

Munich 80339
Theresienhöhe 28

Hamburg 20354
Neuer Wall 63

Berlin 10785
Potsdamer Platz 10

Stuttgart 70174
Friedrichstraße 15

Frankfurt 60314
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