In recent years, the dynamic development of financial technologies, also known as FinTech, has played a significant role in the financial market.

Technological innovations are transforming the entire economy, including the financial services market, creating opportunities to increase the availability of financial services to consumers, streamline the provision of these services, reduce costs, and develop more effective business models and services that are better tailored to consumer needs.

Given the above:

• the Polish Financial Supervision Authority (the PFSA) has been entrusted with new tasks, such as taking measures to support and facilitate the development of innovation in the financial market,
• market entities may apply to the supervisor for a non-binding interpretation of the scope and application of legal provisions,
• payment service providers have been given the possibility to communicate with the supervisor in English. 

The PFSA provides FinTech entities with the possibility for consultation and advice within the framework of the so-called Innovation Hub. More information you can find on the PSFA website.