Pioneering Digital Finance Solutions

We offer a wide range of financial services

The banking sector plays a dominant role in the Polish crypto investment in poland financial system, controlling around 70 percent of total financial sector assets. Poland has 29 locally incorporated commercial banks, with the state owning several and private banks the rest.

The Polish zloty is freely convertible and there are no foreign exchange controls. Companies may use domestic or foreign currencies for transactions. Banks offer deposit and loans in both national and foreign currency. The KNF restricts lending in euros and Swiss francs to minimize the banking system’s exposure to foreign exchange risk. Private individuals can easily obtain loans denominated in foreign currency, but this is subject to data verification and creditworthiness assessment.

Poland is one of Europe’s strongest markets for mobile payments, with almost 14 million Poles using a smartphone app to make purchases. The country also boasts a successful home-grown instant payment clearing system, Express Elixir, which allows customers to settle their transactions with other bank account holders via smartphones.

Credit cards are popular in Poland, with Visa, MasterCard and Maestro being the most widely used. Other popular card brands include American Express and Diner’s Club. The country has a well-developed banking network with many branches and hundreds of ATMs.

In 2021, Polish banks made a profit of $2.1 billion (PLN 8.9 billion) and had a capital-adequacy ratio above the minimum EU requirement. Non-performing loans surged in 2020 due to the COVID-19 pandemic and subsequent recession, but they improved in 2021 as the economy recovered.

Banks in Poland have adequate liquidity and funding, largely because of the large amount of cash on deposit. They are able to support the economy, as reflected in their low current-account deficit. The government has been implementing programs to reduce the deficit and improve the competitiveness of Polish companies, including through tax breaks.

The KNF regulates the financial market and oversees banks, insurance companies, mutual funds, and brokerage houses. It has a strong track record of fostering sound management and stable operations. It also has a robust regulatory framework that prohibits mergers between banks and other financial institutions unless they can guarantee the stability of the acquiring firm.

We are the pioneers of digital finance

Digital finance is an area of the global economy that includes financial services enabled or delivered through digital technology. These services help people to store, send and receive payments, leverage credit and save for the future. Digital finance solutions can improve the financial health of underserved communities, enabling them to make better day-to-day financial decisions, build resilience and protect themselves from shocks. USAID works to promote open, inclusive and secure digital finance ecosystems and economies.

We are on the verge of a technological revolution that may be bigger than the first Industrial Revolution, and it is set to change the way we use money and interact with each other. Banks that do not join the digital financial ecosystem movement risk being left behind. Those that do will be the winners in this “arms race” for the future of money.

We are a digital technology company

The IT sector in Poland represents 4.1% of GDP and is highly competitive, with most global and international technology companies having a presence in the market and many specialized Polish firms. The government's IT development strategy and planning is coordinated by GovTech Poland, but individual ministries or institutions are responsible for implementing projects in their area of expertise. The government's IT expenditures are typically supplemented by EU funds, allowing project sponsors to choose suppliers with the best value for money.

In 2021, IT spending in Poland reached $22.3 billion. During the COVID-19 pandemic, interest in notebooks and tablets increased, as did demand for remote working software tools and services and for cloud computing, virtualization, cybersecurity and other solutions. Interest in bundled phone and internet services also increased, reflecting the growing importance of digital communications in Poland.

Geysha Gonzalez interviews Poland's Secretary of State for Digital Affairs Janusz Cieszynski about the country's position on landmark European tech regulation, calls to action against Russia’s hybrid threats, and vision for using technology to build a more democratic digital future for Europe. This Fireside Chat was held at The Innovation Summit in Warsaw, Poland on October 4, 2022. Click here to learn more about the Summit.