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Triggers and Obstacles to the Development of the FinTech Sector in Poland

Author

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  • Agata Kliber

    (Department of Applied Mathematics, Poznań University of Economic and Business, al. Niepodległości 10, 61-875 Poznań, Poland)

  • Barbara Będowska-Sójka

    (Department of Econometrics, Poznań University of Economic and Business, al. Niepodległości 10, 61-875 Poznań, Poland)

  • Aleksandra Rutkowska

    (Department of Applied Mathematic, Poznań University of Economic and Business, al. Niepodległości 10, 61-875 Poznań, Poland)

  • Katarzyna Świerczyńska

    (Department of Economic Journalism and Public Relations, Poznań University of Economic and Business, al. Niepodległości 10, 61-875 Poznań, Poland)

Abstract

The article aims to show the opportunities for the formation of new FinTech startups in Poland and further development of the sector, as well as to identify the most critical threats. The study offers the descriptive and deductive analysis based on the literature review. The empirical part relies on the data from external databases as well as the dataset collected in a survey run among the FinTechs in Poland in January 2020. The paper reveals that Poland is a fast-growing FinTech market which satisfies various requirements such as the number of secure Internet servers, mobile telephone subscriptions, the available labor force, as well as growing tertiary education enrolment. The crucial obstacles to the development of the sector is the uncertainty about the availability of skilled workers in the future and the lack of proper legal regulations.

Suggested Citation

  • Agata Kliber & Barbara Będowska-Sójka & Aleksandra Rutkowska & Katarzyna Świerczyńska, 2021. "Triggers and Obstacles to the Development of the FinTech Sector in Poland," Risks, MDPI, vol. 9(2), pages 1-27, February.
    • Handle: RePEc:gam:jrisks:v:9:y:2021:i:2:p:30-:d:490701
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    References listed on IDEAS

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    Cited by:

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    2. Ramona Rupeika-Apoga & Stefan Wendt, 2021. "FinTech in Latvia: Status Quo, Current Developments, and Challenges Ahead," Risks, MDPI, vol. 9(10), pages 1-23, October.
    3. Faisal Al-Hudithi & Kamran Ahmed Siddiqui, 2021. "Designing the guidelines for FinTech curriculum," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 9(1), pages 633-643, September.
    4. Iwanicz-Drozdowska Małgorzata & Cichowicz Ewa & Cicirko Marianna & Kawiński Marcin & Nowak Agnieszka K., 2023. "New technologies in the financial industry: Case of Poland," Economics and Business Review, Sciendo, vol. 9(3), pages 98-123, October.
    5. Joanna Błach & Monika Klimontowicz, 2021. "The Determinants of PayTech’s Success in the Mobile Payment Market—The Case of BLIK," JRFM, MDPI, vol. 14(9), pages 1-23, September.
    6. Julia V. Ragulina & Stanislav E. Prokofyev & Tatyana V. Bratarchuk, 2021. "Managing the Risks of Innovative Activities Focused on the Consumer Market: Competitiveness vs. Corporate Responsibility," Risks, MDPI, vol. 9(10), pages 1-14, September.

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