FINTECH HUB POLSKA – RESEARCH AND REPORT OF THE FOUNDATION
“FinTech Hub Polska – how to effectively build a new generation financial center in Poland” is a cross-sectional report on the strategy of creating FinTech Hub Polska prepared by FinTech Poland in cooperation with Accenture, Bird & Bird and Impact FinTech’17
Systemic activities for the development of financial innovation in Poland may contribute to building a significant new generation financial center (FinTech Hub) in Poland based on research, development and innovation. The expected effects of the activities include changing the structure of the financial sector, increasing its efficiency and reorienting its role from a financial services provider, mainly to the domestic market, to an active exporter of innovative services in the area of finance, advanced IT solutions for the financial sector as well as services and processes supporting the provision of financial services.
The digital transformation process in the financial sector has already started, but requires rapid acceleration for Poland to play a leading role in the region. To this end, the active role of the state is indispensable. implemented on the basis of the National FinTech Strategy, defining achievable, understandable and quantified goals, assigned to specific execution centers, prepared by the public sector in cooperation with business.
The FinTech Hub Polska report defines the current state of development of the sector, comparing Poland (in particular Warsaw) with other competitive centers; sets the conditions that must be met in order to be successful, and also indicates market segments, technologies or specializations that deserve special attention when building the strategy in question, not only due to their potential, but also their adaptation to the specifics of the Polish market. The role of the National Fintech Strategy is not only to mark the path of fintech development in the country, but also to clearly signal the readiness for cooperation to investors and entrepreneurs from abroad, looking for a location for their business, new markets for further expansion or simply a good ecosystem conducive to stable development.
The report also points out proposals for systemic changes in the regulatory area and the legal infrastructure supporting the sector, which should also be an element of the National Fintech Strategy. In addition, the report outlines the areas that, in the opinion of the report’s authors, should be the subject of state support and treated as national fintech specializations.
Mastercard is the main partner of the report; content partners Accenture and the law firm Bird & Bird; strategic partners – the Heart and Impact FinTech’17; knowledge partner – Center for the Law of New Technologies at the University of Warsaw. The research for the purposes of the report was carried out by Obserwatorium.biz. The honorary patronage over the report was taken by the Ministry of Development.
The premiere of the report took place in Katowice at the Impact FinTech’17 conference on December 6, 2017.
