Eternity Law International News Polish Fintech landscape

Polish Fintech landscape

Published:
December 10, 2024

Nowadays, Fintech is a rapidly developing industry in Poland. It includes innovations in the fiscal sector and all the establishments which elaborate and advance these new technologies. Both of these aspects are quickly evolving in the country. That industry frequently concentrates on digital assets, risk protection, data storage services, Big Data, and AI.

This guide will make you go over the most important information regarding that topic and provide you the answers you may be interested in.

Fintech legal regime

The kind of a permit for a Fintech company is determined by the particular business structure or product offered by an organization. The set of rules encompasses the following legislative measures:

  • PSD2 and EMD2 Directive: The principal acts controlling the operations of payment establishments. It oversees various payment services, robust client authentication, different kinds of permits, etc;
  • Banking Law: An act that establish the fundamentals of carrying out banking operations, creation and organization of financial institutions, branches, and agencies of overseas monetary establishments;
  • MiFID2 Directive: The principal EU legislation controlling functioning of investment companies and various aspects of trading with monetary tools. It oversees different kinds of fiscal tools, companies allowed to trade with them. etc;
  • AML Directives: Implement the rules for gatekeeper/ obliged establishments to ensure they apply them for their customers. It also supervises GIIF, fiscal security measures, CRBR, etc;
  • Consumer Loan Legislation: Controls kinds of consumer credit, conditions of providing a loan, companies enabled to be provided with it, kinds of consumer loans, legislative demands for lending establishments, etc.

Abidance to these rules is essential for Fintech enterprises to operate lawfully and protect the interests of their clients.

KNF Regulator

KNF is a Polish authority enabled to oversee local organizations in the boundaries of EU rules. Committee must carry out tasks pertaining to licensing of local establishments, keeping up their register, offering coaching for market attendees, distributing directives and messages directed towards regulated entities.

In addition, there exists an important KNF’s tool, described as Sandbox, which is based on the Open API structure, adhering to the local rules and in accordance with the PSD2 Directive. It serves as a simulated testing space where individuals are able to practice banking and payment processes, which include PIS, AIS, and CAF. Moreover, this tool is accessible without any payment, and TPP permit is not obligatory to obtain.

Eventually, the Sandbox promotes innovation, learning, and abidance by legislative standards in the fiscal sector.

Conclusion

Finally, the Polish Fintech landscape is dynamic, evolving, and it will continue to grow, providing both opportunities and challenges for companies functioning in this sector. However, by embracing digital advancements, compliance with legislative demands, and leveraging tools like Sandbox, Fintech firms in Poland will be able to position themselves for success.

Businesses for sale

Fintech Group with Payment and Crypto Licenses: Investment Opportunity

Crypto licenses for sale
Corporate Overview of this investment opportunity Established: 2020 Global Presence: Operates physical offices in multiple countries, ensuring a robust international footprint. International Fintech Group: investment opportunity Banking Technology: Includes a comprehensive digital banking platform. Payment Processing: Features a card acquirer platform with PCI DSS Level 1 PAYFAC model connectivity. Regulatory Credentials Fintech group with Payment...

Fintech bank based in Germany with global investment for sale

Europe, Germany
Overview It is a German Fintech-firm with an excellent reputation that has established itself well in its respective market. The company was bought by the chief architects of the former one of the largest online trading banks in Switzerland. The company is currently in the process of applying for a license, which must be possessed...

Group of Fintech Companies For Sale

Africa, Mauritius EMI License
A new proposal – a group of Fintech companies for sale. Please check out the main details of this offer below. Fintech companies for sale: details of the transaction Fintech Company for sale The Fintech company has two entities: one in South Africa with an account with Standard Bank and one in UAE with an...

You could be interested

Asset management license in Luxembourg

The duchy possesses role of heavy-experienced and dynamically-progressing center for EU investmenting organizations. Its prosperity is due to politic steadiness, active encouraging of abroad-coming investments, favorable and clearly defined legislative basis, multilingual personnel and highly-set expert background level. Our firm is made up of highly-qualified professionals being true experts in business-startup industry. We operate worldwide...

The advantages of bank formation in Puerto Rico

Puerto Rico has established itself as one of the leading financial and banking centers within the Caribbean. According to the official documentation, Puerto Rico belongs to the United States, but there are some degrees of independence that give the island some advantages over the mainland. Over the past few years, the substantial funds from the...

Opening a payment system account in the UK

UK stands as a prominent globally-known financial hub, renowned for its exquisite banking-related and financial environments. In recent years, the UK has become a prime destination for firms aiming to set up accounts in payment systems, particularly within EMIs. UK’s regulative climate is extremely supportive of Fin-technologies, pushing it to be an ideal choice for...

EMI License in New Zealand

New Zealand, renowned for its breathtaking landscapes and thriving economy, presents an appealing prospect for businesses seeking a global foothold. One vital consideration for companies operating in New Zealand is the acquisition of an EMI (Electronic Money Institution) license. This article will explore the prerequisites, fintech solutions, advantages, bank accounts, payments,  transactions, prices, sale processes,...

Open a bank account in Poland

Poland is a very perspective country both for traveling and providing services. So we prepared a short guide with the main information for the bank account opening. Required documents The requirements differ to the residents and foreigners. If you have Polish citizenship the procedure is fast and simple. You need to check a bank policy...

DSP Program in Vanuatu

Main provisions Visa-free regime with more than 140 states, incl. Great Britain, Norway, Switzerland, Hong Kong and the whole EU territory. Lack of any tax charges. Speed ​​of the process. The Economic Citizenship Program can be got in a month. High level of confidentiality. The personal data of new citizens are kept secret. Later, it...
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof

Kyiv

Baseina street, 7

London

Grosvenor Gardens, 52

Washington

1629 K St. Suite 300 N.W.

Vilnius

Gediminas Avenue, 44A

Tallinn

Kesklinna linnaosa, Tuukri 19

Edinburgh

Lochrin Square, 1

Nicosia

Jacovides Tower, 5 floor

Riga

Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard

Sydney

20 Martin Place

Porto

2609 Avenida da Boavista
Calls are made only from Portugal

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7