Banking, Financial Services and FinTech

We assess the product, customer journey, movement of funds and responsibilities of each participating business. This establishes the regulatory questions, licensing route, entity structure and approvals to address before launch or expansion.

Our work includes regulatory readiness reviews, application documentation, operating policies and responses to regulator questions. We advise on engagement with the Central Bank of Kenya (CBK), Capital Markets Authority (CMA), SACCO Societies Regulatory Authority (SASRA) and other relevant authorities. The scope depends on the activities being conducted.

We advise banks, lenders, borrowers and investors on loan facilities, guarantees, security packages, escrow and intercreditor arrangements. Our review covers repayment obligations, covenants, priority, default provisions and the requirements for completing the transaction.

We also advise on equipment finance, leasing, receivables financing, refinancing and securitization. Our Capital Raising and Financing Transactions service explains the legal support available for equity, debt, project and asset financing.

We advise on payment processing, merchant acquiring, settlement, remittances, digital wallets and financial products delivered through technology platforms. We review who holds funds, how transactions are processed and which participant carries each contractual and regulatory obligation.

Our work includes bank partnership and integration agreements, aggregator and merchant agreements, platform terms and product disclosures. We address settlement timing, reserves, reconciliation, chargebacks, refunds, fraud exposure, service failures and liability. Banking as a Service and embedded finance arrangements also require clear terms on customer relationships, data access, oversight and exit.

We advise SACCOs on governance, member lending, financing arrangements and digital service delivery. We review board responsibilities, member documents, lending policies, security arrangements and contracts with technology and payment providers.

The regulatory review considers the SACCO activities involved, including deposit taking and specified non deposit taking business where SASRA requirements apply. We identify relevant approvals, reporting processes and internal controls.

We advise on investment structures, fund formation documentation, investment agreements, capital deployment, custody and asset servicing arrangements. We help define the responsibilities of managers, investors, custodians and other service providers.

We also assess regulatory questions raised by investment products and platforms. Transactions involving regulated institutions require consideration of relevant ownership, approval and governance requirements.

We develop and review anti money laundering (AML), countering the financing of terrorism (CFT) and know your customer (KYC) programs. The work can cover institutional risk assessments, customer due diligence, beneficial ownership checks, sanctions screening, transaction monitoring and reporting processes.

We help allocate responsibilities, prepare policies and address gaps identified through compliance reviews. The framework is tailored to the business model, customers and applicable obligations.

We review customer terms, pricing disclosures, complaints procedures, marketing statements and collection practices. The documents should explain the product, charges, responsibilities and process for resolving customer concerns.

Our data protection work covers privacy notices, credit and transaction information, processing agreements, access rights, information sharing and data transfers across borders. We consider the relationships between financial institutions, merchants, platforms and technology providers.

We prepare and negotiate technology licensing, outsourcing, distribution, agency, referral and service agreements. Our review addresses performance standards, audit rights, intellectual property, confidentiality, continuity and termination.

We also advise on acquisitions, investment transactions, shareholder arrangements, group structures and board responsibilities. These instructions are supported through our Commercial Agreements and Corporate Transactions and Corporate Governance services.

We support responses to inspections, supervisory inquiries, information requests, show cause notices and regulatory investigations. We assess the issues, organize the evidence, prepare submissions and develop remediation plans with management and the board.

We advise on the Kenyan legal aspects of establishing and expanding a financial services business. This includes local structures, investment arrangements, payments, partnerships and data transfers. We identify matters requiring advice or authorization in another jurisdiction and coordinate with local counsel where needed.