What is the purpose of the Innovation Hub Programme?

Many entities operating in the area of financial innovation (FinTech) point towards complicated legal and regulatory requirements as main barriers for the development of their undertakings, together with the lack of clarity regarding the application of those requirements to innovative products and financial services. The answer to those issues is the Innovation Hub Programme, through which the PFSA engages in a dialogue with entities in the Fintech, SupTech and RegTech sector, providing answers to their questions and concerns. In this way the PFSA supports the development of innovative technologies in the financial market, while retaining appropriate levels of security and consumer protection.

Who is it for?

The programme is directed at:

• entities supervised by the PFSA,
• entities intending to commence an activity in the section of the financial market supervised by the PFSA,
• entities providing or intending to provide technological services for the entities supervised by the PFSA, or for the PFSA’s office

– which designed, develop or intend to utilize technological solutions or services, aimed at developing innovation in the financial market.

In what way is the support provided?

Support within the Innovation Hub is granted, inter alia:

• through means of distance communication (Skype for Business with the possibility of telephone connection),
• via e-mail,
• in written form,
• during in-person meetings.

Apply to the programme

Applying for participation in the Programme is possible by filling-out the contact form provided on the website www.fintech.gov.pl, or by sending an already filled-out form to the e-mail address fintech@knf.gov.pl. It is also possible to send on application to this e-mail address in a different form, which should contain an indication of the entity, its address and a website, its contact points, as well as, inter alia^[1]:

• the enquiry and the type of support expected from the PFSA,
• concise description of the technological solution, product, or service, together with an indication of the target group and utilized technology,
• justification of fulfilment of the criteria for participation in the Programme.

^{[1] The list of all elements of the application can be found in par. 5.4.1. of the Innovation Hub Program Regulation.}