Comprehensive outsourcing support for a Pan-European bank

We advised a pan-European bank on outsourcing its payment settlement processing to a service provider outside Europe. We were the bank’s sole legal adviser for this transaction. We were closely involved in:

• pre-contract strategic advice;
• negotiation of the main framework contract, including creating an appropriate template service level agreement;
• creating a financial services regulation compliance strategy and advising on how to approach relevant financial services regulators;
• devising a cross-border data protection compliance strategy; and
• providing on-going advice on subsequent service level agreements, on liability issues and on compliance issues.