Poland is a country with one of the best-promising opportunities for FinTech industry, considering legislation, education, infrastructure and innovation culture. The FinTech industry continues to mature, and it comes to . This rapid growth of interest makes FinTech startups flock in Boston, Silicon Valley or New York, that are among world’s biggest tech hubs. In Europe, the same role is automatically assigned to London, Dublin or Berlin, which also gather owners, innovators, and business investors. , with as its “CEE Silicon Valley,”is another emerging star, that holds the potential of becoming the next El Dorado for a number of reasons. grow in milliards of dollars each year startup Poland Cracow FinTech Legislation The dynamic development of FinTech sector is obviously influenced by law regulations. In case of Poland, this includes both local law and European Union directives. And those are fairly promising. The Polish government is currently working on “Sandbox regulations,” that are to soften the way of to market. In other words, they are going to improve user safety and smooth out the restrictions for FinTech startups. implementing FinTech solutions The Innovation Hub Program, recently set off by Financial Supervisory Commission, brings promises even further: According to the Program, The commission members are to open the dialogue with to work out legislative solutions for the entire . Given all that, chances are big to see Poland literally flooded with FinTech startups in a matter of months. FinTech entrepreneurs FinTech industry Considering the legislation, we also need to keep in mind , administered by the European Commission. The directive will let non-banking institutions the access to information about customers (just these, who gave their agreement) from banking databases. From the perspective of , this law will bring significant improvement and speed up the delivery of market-fit products. Revised Directive on Payment Services (PSD2) FinTech startups FinTech infrastructure Poland is a real FinTech experimental polygon and the so-called ”launchpad” for testing FinTech solutions. Let’s consider the example of PayPass. According to MasterCard report, This means we’re using contactless payments and . Besides all this, 85% of Polish respondents declare their payment card has a PayPass function. 25% of Poles declare they use their PayPass every day. 20 times more often than e.g. Germans 3 times more often than the European average When we look back to the history, we saw Polish WBK Bank implementing Maestro paypass cards as the first institution in Central Europe (2007). The dynamic development of paypass payments in Poland is a success on a European scale. Or Blik. Blik innovatory solution invented in Poland lets millions of Poles safely use their smartphones to withdraw cash from ATMs, pay in traditional stores and transfer money immediately to other users phone number, without knowing their bank account. The system is a national, universal payment standard and the fastest method of making a purchase. The balance of 2 years of Blik existence is 10 million transactions and 3,5 million users. According to estimates, 70% of Polish society uses the solution. The system is appreciated in a number of European countries, that look up to the level of Polish FinTech and the intensity of its market absorption. The solution is probably also the favorite of that wants to Polish market in the second half of this year. And, yes, this will supposedly happen Apple to introduce Apple Pay with the help of Blik. The absorption of gives us a huge advantage while developing and testing FinTech apps, for foreign and native companies. FinTech solutions in Poland , for instance, we come up with our ideas and suggest optimal solutions. If we couldn’t test these solutions in real life, we obviously wouldn’t go beyond the guess-stage. But with the FinTech ICT infrastructure around, we can propose validated options that take off, although they weren’t even previously taken into consideration by our clients. At Untitled Kingdom Poland’s potential is becoming noticed by prominent FinTech companies from overseas (like , that based one of their offices in Cracow). As Polish society absorbs FinTech like a sponge, . While developing their products, the startups simply test their solution on the local ground, gather feedback, implement user-validated improvements and scale their business globally. Revolut the number of native financial startups is also skyrocketing FinTech FinTech Polish scene via Poland report Our leading status in FinTech across Europe is confirmed by one of the best known and renowned research and consulting companies in the world — , and underlined by foreign industry media, including . Our FinTech solutions are ahead of trends and are an inspiration for foreign banking institutions. The Forrester Research American Banker The Potential of Polish Programmers Poland is the Mecca of , that makes us stand out among other counties. We rank 4th in the world in the , and land in the top 3 for multiple categories in list). top-talent software experts Top Coder ranking Hackerrank Rankings don’t lie — Polish progammers are leading experts in Europe. If we utilise this potential in FinTech , the sector can soon peak higher than ever before. Even now, are admired worldwide for their ingenuity, reliability and professional expertise. They are encouraged to travel abroad and join foreign FinTech companies’ teams, or support them remotely. Polish IT specialists Also at , we’re quality-focused, so we’re gathering the savvy team of , that makes us stand out among our competitors. We’re explorers, who always jump into to challenge and continuously pursue for improvement and innovation.And we believe in utilising this power in Fin-Tech. Untitled Kingdom top-talent experts Innovation culture Poland loves testing. We also cherish new ideas, and praise innovation. This gives businesses a fertile ground to validate their inventions and scale globally, repeating the sucess of , and dozens of other FinTech startups born in Poland and flourishing worldwide. We’re not afraid of business risk — Polish entrepreneurs create startups reknowned and appreciated globally. All of this combined makes Poland a great place to invest and develop word-class FinTech solutions that take off, scale and bring a real impact. Azimo Atsora ➡️Check our ⬅️ Privacy Policy Read more from : Untitled Kingdom How to choose a company for app development? Lean product development is possible, also in corporate environment 4 types of Machine Learning that can enrich your digital product Why you don’t want freelancers for your product And remember to ! VISIT OUR WEBPAGE

Polygon

Abroad

Alphabet

Apple

Mastercard

TopCoder

Top 6 Flutter Development Companies in 2019

Read My Stories

Too Long; Didn't Read

Why to develop your FinTech solution in Poland

Why to develop your FinTech solution in Poland

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

Top 6 Flutter Development Companies in 2019

10 Top Industries To Be Transformed By Artificial Intelligence, Soon

10 Essential Mobile App UI Design Principles for Building Outstanding Apps

11 AI & ML App Ideas For Startups and SME’s In 2019

11 Best Low-Code And No-Code Platforms in 2021

11 Tips to Save Time on App Development & Launch Processes

Top 6 Flutter Development Companies in 2019

10 Top Industries To Be Transformed By Artificial Intelligence, Soon

10 Essential Mobile App UI Design Principles for Building Outstanding Apps

11 AI & ML App Ideas For Startups and SME’s In 2019

11 Best Low-Code And No-Code Platforms in 2021

11 Tips to Save Time on App Development & Launch Processes

Light-Mode

Classic

Newspaper

Minty

Dark-Mode

Neon Noir

Minty

HN StartUps