The global FinTech sector is at a turning point. As predicted by analysts, in 2030 it will reach annual revenues of USD 500bn and will develop three times faster than the traditional financial sector.

This will be affected by numerous existing and newly emerging phenomena, such as generational change, regulatory changes and, last but not least, the effects of the pandemic which has accelerated the implementation of technologies that allow the remote provision of services (including financial services) to people who have been digitally excluded to a certain degree.

Although the majority of our planet’s population will enjoy the benefits of the newly developed innovative financial products, only few countries will be able to attract the benefits of such development – dedicated jobs, new tax revenues or the development of a modern financial infrastructure. Whether individual country manages that will be determined, on the one hand, on their awareness, willingness and cleverness with regard to attracting new investments and stimulating local technological entrepreneurship and, on the other hand, by their geographical location, which has recently been incorrectly considered to be irrelevant.

In the new reality – defined by the effects of the pandemic and the deepest geopolitical changes to be recorded over the last 30 years – Poland has more to offer in the FinTech sector than could have been expected just a few months ago. A strong and innovative banking sector, an excellently educated team of experts, a resilient FinTech ecosystem, strong presence of FAAMA companies (Facebook, Apple, Amazon, Microsoft, Alphabet), a well-developed sector of shared services centres developed by global financial institutions as well as more and more innovation-friendly financial supervision supported by the EU membership – all that constitutes a unique combination that determines the strength of Poland as an important FinTech hub.

The “How to do FinTech in Poland” report is the first guide addressed to foreign investors presenting Poland as a recommended place for conducting and developing innovative financial services. Step by step, this publication presents the country’s economic and human capital, the maturity and innovativeness of its financial sector, the regulatory framework determined by national and EU legislation as well as its key market players

The fact that the Polish Financial Supervision Authority co-authored the report and that the Polish Investment and Trade Agency became its partner is the best testimony to the report’s significant relevance. We hope you find this report informative.

Paweł Widawski,
President of FinTech Poland Foundation