Poland aspires to be among the world's top 30 most competitive financial centers

November 16, 2023 07:00 PM AEDT | By Cision

Poland aspires to be among the world's top 30 most competitive financial centers — Image source: Kalkine Media

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WARSAW, Poland, Nov. 16, 2023 /PRNewswire/ -- Poland has strong advantages that can help strengthen its position on the global stage of financial centers. This is the main message promoted by the delegation of Polish companies and institutions during the Singapore Fintech Festival.

The potential of Poland, possible synergies, and collaboration opportunities were also discussed by participants at the Poland ASEAN Fintech Forum, held in Singapore as one of the side events to the Singapore Fintech Festival. The event was organized by PKO Bank Polski, Polish Investment and Trade Agency, and the FinTech Poland Foundation.

During the event, attention was drawn to the fact that over the past thirty years, Poland has built a strong and competitive banking sector almost from scratch. Today, it is recognized as one of the most digitally mature globally. Combined with a well-functioning ecosystem supporting innovation and a significant number of digitally mature companies operating in the country, along with its central location in the heart of Europe, Poland possesses strong competitive advantages and the opportunity to advance into the top 30 most competitive financial centers worldwide.

Statistics further favor Poland, as it boasts the highest number of operating fintechs and the highest value of Venture Capital investments in comparison to Central and Eastern European countries. It also has access to top experts in the IT field, with over 430,000 people working in the industry, and an additional 11,000 IT-related graduates entering the job market each year. Poland is globally ranked first in the number of medals won in international informatics olympiads per million inhabitants.

A key asset for Poland is its modern and innovative banking sector, exemplified by PKO Bank Polski, the largest universal bank in the CEE region and a leader in the Polish banking sector. The bank develops advanced solutions in AI, robotics, automation, and the transition from traditional infrastructure to cloud-based solutions. Additionally, as the first in Poland, it launched a banking branch in the Metaverse and is preparing to expand its presence further in virtual worlds.

The bank also secures top positions in international rankings evaluating digital maturity and innovations. At the Global Retail Banking Innovation Awards 2023, it surpassed 190 banks worldwide, receiving the highest award for building the presence of the PKO Bank Polski brand in the Metaverse.

Source: PKO BP

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