Challenging WIBOR could ruin our economy
WIBOR has a strong legal basis and is set in a transparent manner, and undermining it risks destabilising the country and losing Poland’s credibility in the financial markets. Fortunately, in addition to the banks, key public institutions are aware of this and are unanimously defending WIBOR.
Source: Bank.pl
New requirements for banks. Implications for customers
Banks will have to build up a so-called countercyclical buffer by retaining more capital. Customers are unlikely to be affected by these requirements, but dividends could fall.
At its last meeting, the Financial Stability Committee (KSF) presented its recommendations on the amount of the so-called countercyclical buffer. It is to be 1% after one year from the entry into force of the relevant ordinance and 2% after two years. The ordinance is to be issued by the Minister of Finance, and his representative at the KSF meeting accepted this recommendation and stated that legislative action would be taken. All indications are that the new prudential requirements will come into force later this year.
Source: Rzeczpospolita
ZBP: There are almost 16 million mobile-only customers. This is more than 2 million more than in Q1 2023
The Polish Bank Association (ZBP) has published the Netbank report for Q1 2024. The document contains information about the popularity of online and mobile banking in our country. Among other things, it shows that at the end of March there were more than 43.4 million valid agreements allowing individual customers to access internet banking in Poland. This represents an increase of 1% compared to the previous quarter. At that time, there were more than 43 million such agreements.
Source: Cashless.pl
ECF 2024 recommendations on banking risks, cybersecurity, regulation and democracy
The European Financial Congress presented the key recommendations of the CEOs of the largest Polish banks.
Source: Bank.pl
NBP report on the stability of the financial system, June 2024
The financial system is stable and the banking sector – its key component – remains resilient to shocks, the National Bank of Poland (NBP) said in its latest report on financial sector stability.
Source:Bank.pl
The 6 most important changes for the payment services industry and Open Finance – PSD3/PSR + FIDA package
On 28 June 2023, the European Commission unveiled a new legislative package that aims to revolutionise the payment services sector in the European Union. The proposals include the third version of the Payment Services Directive (PSD3) and the accompanying Payment Services Regulation (PSR). The new legislation is designed not only to unify and simplify payment transactions, but also to significantly increase their security. The introduction of these regulations, scheduled for 2026, is expected to address new challenges and opportunities in the rapidly evolving financial sector.
Source: Puls Biznesu
Map of Polish Fintech
The cashless.pl portal has once again published a map of Polish fintech. Kochański & Partners was included in the consulting and institutions category.
Source: Cashless.pl
Banks getting bolder with generative AI
The role of generative AI in business is growing: 43% of companies worldwide, including Poland, are already investing in the technology, with a further 30% planning to do so in the coming year, according to EY’s Reimagining Industry Futures Study 2024 report. Finance is one of the industries which see the most potential for GenAI. Banks are keen to invest in the technology, hoping to increase sales, streamline processes and better personalise products and services, among other benefits. On the other hand, GenAI also poses a number of challenges, such as those related to confidentiality and data integrity.
Source: Bankier.pl
“Green Finance in Poland 2024” report
The report was produced in cooperation with the Institute for Responsible Finance, the European Financial Congress and the Know-How Hub. The partners of the report are the Polish Economic Institute and the Polish Bank Association.
Source: Polish Bank Association
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See also
Banking today and tomorrow | An overview of the banking sector | June 2024
