POLAND Law and Practice Contributed by: Wojciech Ługowski, Lawarton Lugowski Kapica Spolka Komandytowa
Digital Payments Fintech firms develop infrastructure for seamless payment processing, mobile transactions and banking services. The sector is dominated by digital wallets, contactless payments and online banking. Lending and Alternative Financing Alternative lending platforms provide financing for consumers and SMEs using AI-driven risk assessment and alternative credit scoring. Peer- to-peer (P2P) lending, marketplace lending and buy now, pay later models enhance financial flexibility and reduce dependence on traditional banks. Wealthtech and Investment Solutions Wealth management platforms utilise automa - tion, robo-advisors and algorithmic trading to optimise investment strategies. Retail investors gain access to diversified portfolios, fractional investing and alternative assets with lower entry barriers. Insurtech and Digital Insurance Models AI and data analytics enhance underwriting, claims processing and risk assessment. Insur - ance models adapt to consumer needs with personalised, usage-based and on-demand solutions, improving efficiency and customer experience. Regtech and Compliance Automation Regtech solutions help financial institutions meet changing legal requirements through auto - mation, machine learning and blockchain verifi - cation. These tools streamline AML, KYC and risk management, reducing costs and enhancing compliance.
Blockchain-Based Financial Solutions Blockchain is increasingly used in transaction security, smart contracts and decentralised finance (DeFi). Digital asset platforms support cross-border transactions, asset tokenisation and transparent record-keeping, reducing reli - ance on intermediaries. 2.2 Regulatory Regime Poland’s fintech industry operates within a regulatory framework shaped by both national legislation and EU regulations. Key regulatory bodies include the Polish Financial Supervision Authority ( Komisja Nadzoru Finansowego or KNF), which oversees banking, lending, insur - ance and investment activities and the Office of Competition and Consumer Protection ( Urzad Ochrony Konkurencji i Konsumentow or UOKiK), which ensures consumer protection in financial services. A key challenge in Poland remains the balance between EU regulations and local implementa - tion. Additionally, Poland’s implementation of EU directives is often characterised by gold-plating, leading to stricter local requirements compared to minimum EU standards, which can increase compliance burdens for fintech firms. This is especially true in crypto, where national authorities have yet to fully integrate MiCA into domestic law. This creates regulatory uncertain - ty for blockchain-based businesses operating in the country. The regulatory regime applicable to the fintech industry varies according to particular verticals. 2.3 Compensation Models Different compensation models employed by market participants to charge customers depend on their regulatory status, the services they pro -
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