Report on the activities of the Special Task Force for Financial Innovation (FinTech) in Poland
The Special Task Force for Financial Innovation (FinTech) in Poland started its activity on 13 January 2017 (1st meeting). One goal of this group was the identification of legal, regulatory and supervisory barriers to the development of the FinTech sector and the preparation of proposals to eliminate them. As a result of its activity a special report was published. The document contains proposals of solutions and recommendations for further actions on the side of appropriate bodies and entities.
11 institutions representing market players have reported more than 100 barriers to the development of the FinTech sector, which became the starting point for the Task Force’s further work. Part of the analysed barriers, due to their similar nature, were merged, resulting in the total number of barriers being equal to 85.The work of the Task Force focused on areas that directly impact the growth of innovation, while maintaining the security of services on offer in order not to undermine customers’ confidence in the financial market.