For a while now, GDPR compliance has been a strategic necessity for fintech platforms handling personal data across borders. Yet for business and legal teams, the real challenge lies in understanding what compliance involves, what it costs, and how to implement it efficiently—without getting lost in fragmented legal advice from multiple jurisdictions. As fintech businesses face ever-increasing regulatory pressure and customer expectations in 2025, they must continuously evaluate what GDPR they are required to comply with and what it costs to meet those standards.
This guide breaks down the real cost of GDPR compliance for financial companies, unpacking the key elements of GDPR compliance and examining the costs that come with non-compliance. This guide also examines the options currently available to fintech companies for achieving GDPR compliance, including the services and costs of internal and external advisors.
What does GDPR compliance actually involve for payment apps?
For fintech platforms and payment institutions, GDPR compliance is about embedding data privacy into every layer of operations. Known as “privacy by design for payment fintech,” this involves creating systems and processes that prioritize user data protection from the outset.
Compliance obligations include managing data subject rights for payment apps, such as access, erasure, portability, and objection. These rights must be clearly communicated and actionable within your app. Consent management is also critical—users must actively opt in to data collection and have granular control over how their data is used.
Your platform must maintain updated data processing agreements, especially if you work with external processors. You’ll also need internal policies for handling breaches and records of activities, including whether you need to hire a DPO for your payment company or appoint a UK GDPR representative if your company serves UK users.
How much does it really cost to get GDPR-compliant in 2025?
There is no definitive cost for achieving GDPR compliance, as expenses vary widely depending on the size, complexity, and data practices of each organization. This includes factors like where a company operates (the UK, the EU, or globally) and the number of third-party vendors and integrations. It also includes the privacy maturity level of the company, meaning how established the data policies, processes, and security measures are, and what more work needs to be done. However, it is possible to broadly estimate the main costs for small, medium, and large fintechs.
Prices sourced from GDPR Advisor, Sprinto, Ensurety.
GDPR costs to budget for: Reps, RoPA, DPIAs & more
Understanding the ballpark figures for GDPR compliance across different-sized fintech companies provides a high-level overview of the financial impact. However, breaking these costs down further into specific GDPR requirements, including Data Protection Impact Assessments, Representative support, and Records of Processing Activities, offers much greater clarity on where budgets need to be allocated.
The table below sets out these various costs.
In-house legal team vs. external advisors: what do fintech companies choose (and why)?
When deciding which route to choose, there are three core criteria to examine: cost, speed, and expertise.
Cost
Most early-stage or scaling fintech companies don’t have in-house legal teams because the cost is too high. Establishing a full team means recruiting compliance officers, lawyers, and privacy experts across different jurisdictions—something only large enterprises can afford. Ultimately, sourcing, hiring, managing, and training in-house legal staff may not prove cost-efficient for many fintechs.
In comparison, by working with external providers, fintechs can have more control over how they spend their GDPR compliance budget. These budgets can also scale as company needs and practices change. The biggest challenge is finding a service provider with transparent pricing that gives fintechs a clear picture of costs.
The verdict: on a cost basis, most fintech businesses opt for external advisors.
Speed
Tech startups and scale-ups need support that is quick, seamless, and efficient. Many fintechs operate in more than one country and need to be mindful of privacy compliance, including GDPR obligations, across multiple jurisdictions. Depending on the size of the fintech and their budget, both in-house and outsourced options have their merits.
In-house legal teams may provide quick solutions simply because they are familiar with internal processes and can support quicker decision-making. That being said, delays can arise as they may struggle to keep up with rapidly changing GDPR laws or may be restricted by expertise only in niche areas.
Fintechs working with external advisors can choose which area of expertise they require, particularly during complex or high-risk compliance issues like data breaches or DPIAs. A good outsourcing solution will have quick onboarding, good communication channels with the client, and be able to bring the appropriate knowledge and experience to serve the company’s setup and data handling needs.
The verdict: on a speed basis, many fintech businesses opt for external advisors.
Expertise
In-house legal teams can bring positives and negatives when it comes to the issue of expertise. Their collective expertise can grow over time; however, the team may encounter knowledge gaps when it comes to niche areas such as biometric data processing or compliance with international frameworks.
External solutions can help fill these knowledge gaps by providing fintechs with immediate access to certified professionals (e.g., CIPP/E, CIPM) that have a deep understanding of GDPR compliance within the fintech sector. Here, the challenge for fintech platforms is managing or coordinating efforts from one or more external providers. This can be particularly complex when trying to achieve cross-border compliance. Still, the matter of expertise is particularly critical in fintech due to the sensitive nature of data processing and the need for specialized regulatory knowledge.
The verdict: on an expertise basis, many fintech businesses opt for external advisors.
Legal Nodes vs other compliance providers: A practical comparison
As it stands, fintechs opting for external support must choose between comprehensive compliance packages from traditional legal firms and piecemeal solutions—consulting, documentation, or DPO services—from external sources. The former is expensive and opaque, while the latter can present unpredictable pricing and poor integration with other legal needs.
Legal Nodes offers an alternative. As an external provider, we offer fintechs GDPR compliance support that is comprehensive with less cost. We do this through AI-powered privacy experts who are CIPP certified in 10+ countries and 70+ jurisdictions.
Through Legal Nodes, fintech platforms can identify their GDPR gaps, access the right privacy experts, manage documentation like RoPAs and DPAs, and continuously monitor and take action as GDPR obligations arise. All of the support is structured and delivered through one easy-to-use system.
Here’s how Legal Nodes compares to other external providers like traditional law firms and SaaS-only GDPR tools.
Book a free consultation to discover how Legal Nodes can simplify GDPR compliance for your fintech platform.
GDPR compliance costs for fintech platforms with Legal Nodes
As we’ve seen, the cost of GDPR compliance for payment apps in 2025 can vary widely, depending on your company’s structure, data flows, and the jurisdictions you operate in. Traditional legal firms often provide little upfront clarity, and the final invoice can balloon due to hourly billing models and multi-jurisdictional complexities.
Whilst we can’t directly compare our prices against other external service providers (we feel your frustration—prices vary and are hard to find!), we can tell you our pricing for GDPR and DPO solutions.
What happens when you don't get compliant? (Fines, delays, legal risks)
Put bluntly, non-compliance is risky and expensive. GDPR fines can reach €20 million or 4% of global turnover, whichever is higher. But the true cost can be even greater.
- Product launch delays: Regulatory flags can slow or stop launches in the EU or UK.
- Reputational damage: Trust is essential in fintech. A single breach or rights violation can lead to churn and backlash.
- Operational setbacks: Without compliant processes, you may need to halt services or rebuild infrastructure after a regulator’s warning.
A solid GDPR compliance plan also boosts trust—essential for payment apps scaling in competitive markets.
FAQS
Start building your GDPR roadmap with Legal Nodes
Whether you're building a new payment platform or expanding into new markets, Legal Nodes helps you stay ahead of privacy regulations with a clear, integrated approach to GDPR compliance.
Our online platform connects you to experts across jurisdictions, supports your team with fast deliverables, and lets you build your compliance stack with full flexibility—using credits to spend on what you need, when you need it. There are no hidden costs, just a transparent plan that grows with your company.
With Legal Nodes, you can:
- Get started fast through our online platform
- Choose flexible outcome-based pricing to manage your legal budget
- Access experts across 20+ jurisdictions in one place
- Move quickly with tailored legal roadmaps built for speed
Get support from a team that’s helped over 500 companies structure and scale compliantly. From DPOs and reps to DPAs and RoPAs, we’ve got your back. For a GDPR compliance partner that understands fintech growth, speak to Legal Nodes today.
Commonly asked questions on GDPR compliance for fintechs
1. What are the GDPR requirements for financial institutions and payment apps?
Fintech companies and payment apps must embed data protection at every stage of their operations. Key requirements include privacy by design, user rights management, consent and cookie management, and third-party contracts (DPAs). Businesses also need Records of Processing Activities (RoPA), a UK GDPR Representative and/or an EU GDPR Representative for cross-border operations, security tools like encryption, and ISO certifications.
2. Is it better for fintech companies to outsource GDPR compliance or build an in-house legal team?
Outsourcing can be more cost-effective than hiring data protection experts in-house, especially for startups and scale-ups. In-house legal teams can be expensive to build and maintain and may require multiple specialists for different jurisdictions. Outsourced providers can offer tailored support across multiple jurisdictions through certified GDPR experts. This helps fintechs stay agile while navigating complex, cross-border compliance obligations. For tailored GDPR solutions that scale with your business, speak to the experts at Legal Nodes.
3. What happens if a fintech company is not GDPR compliant?
Non-compliance with GDPR can result in fines of up to €20 million or 4% of global turnover, whichever is higher. Financial penalties are only one part of the risk, as other consequences include things like launch delays due to failed regulatory checks; reputational damage caused by customers losing trust after a data breach; and operational setbacks like forced service shutdowns or rushed infrastructure overhauls. Failing to comply with GDPR can seriously disrupt growth, especially for fintechs trying to enter EU or UK markets. Take proactive steps to protect yourself from data breaches with help from Legal Nodes.
4. Do fintech platforms need to appoint a Data Protection Officer (DPO) under GDPR?
A DPO is required under GDPR law if your fintech company processes large-scale personal or sensitive data (like financial transactions), conducts regular and systematic monitoring of individuals (such as via user tracking or profiling), and operates in multiple jurisdictions or handles cross-border data flows. Even if not strictly required, appointing a DPO can help mitigate privacy risks, ensure all your documents are up-to-date, and demonstrate compliance and accountability to regulators.
5. How much does GDPR compliance cost?
The cost of GDPR compliance varies depending on your organization’s size and complexity. Small businesses may spend $20,000–$50,000, while mega enterprises can face costs exceeding $10,000,000. Expenses include legal fees, training, security tools, and certifications. While the upfront investment may seem high, compliance helps avoid fines and builds customer confidence and trust. Speak to the Legal Nodes privacy experts about your GDPR compliance needs today.
6. How much does a GDPR breach cost?
A GDPR breach can cost up to €20 million or 4% of annual global turnover, whichever is higher. Beyond fines, costs include legal fees, operational disruption, and reputational damage. In the financial industry, the average cost of a breach was over $6 million in 2024. Proactive privacy compliance is far more cost-effective than dealing with breaches. Speak to Legal Nodes to safeguard your business from costly GDPR violations.
Boost your fintech with GDPR compliance
