PR83711

WARSAW, Poland, April 21, 2020 /PRNewswire=KYODO JBN/-

Startups transforming one of the biggest banking sectors in CEE

"Startup the Bank" is the most recent report on startups whose solutions

transform the Polish banking sector. According to the study, not only

traditional fintech companies stand the chance of becoming banks' technological

partners and after a successful pilot project, 7 out of 10 companies continue

to cooperate. The report, prepared jointly by the largest bank in the region,

along with partners, offers a study of 100 companies from the fintech industry.

In the digital transformation era, adaptation of innovative technologies is the

only way to win the market. Expenditures on development of innovations in the

Polish banking sector have been growing by 14.5% on average annually; in 2019

they amounted to PLN 1.6 billion. A significant portion of solutions are worked

out by the banks together with their technological partners. Who are the

authors of the state-of-the-art tools for the banking sector? What is the

course of development of innovative companies? Who are their customers and how

long does it take to source them? The answers to these and many other questions

are presented in the "Startup the Bank" report, prepared jointly by PKO Bank

Polski, PKO VC, the Domestic Cloud Provider and The Heart.

How to "break into" a bank

Banks in the region specialise in a systemic approach to the cooperation with

startups more than any other industry, building dedicated programs and

innovation teams. Acceleration in banking offers a 3-times higher guarantee of

signing a contract than in other sectors (where traditional sale performs

better). The most efficient mode of launching cooperation is a pilot project.

Almost 9 out of 10 startups cooperating with banks had "pilots" of their

solutions. For 70% of them, this allowed the signing of a commercial contract.

According to 40% of respondents, their solutions are a must-have for a modern

banking sector. Three major implementation areas include data analysis,

internal process optimisation and customer servicing.

Financial benefits are the most important aspect of cooperation only for 17% of

companies. A definite majority is more interested in image-related benefits or

access to the customer base, along with feedback from the professional partner.

Results show that apart from Poland, the market for researched startups include

the UK, Germany, the US, Spain and Singapore.

Full report is available for free at the following address:

www.startupthebank.com

Photo - https://mma.prnewswire.com/media/1122171/PKO_Bank_Polski.jpg

Contact

prasa@pkobp.pl

fintech@pkobp.pl

Phone : +48-225-219-932

SOURCE: PKO Bank Polski