KNF Innovation Hub Programme for supporting the development of financial innovation (FinTech)

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Many companies operating in the area of financial innovation (FinTech) as one of the biggest barriers to business development indicate the complicated legal and regulatory requirements as well as the ambiguity of their application in relation to innovative financial products or services. In order to overcome these challenges, KNF has launched the Innovation Hub Programme under which the supervisory body conducts a dialogue with FinTech companies by providing them with appropriate explanations on the submitted enquiries, thereby supporting the development of modern technologies in the financial market while maintaining security and adequate client protection.

Who is the Innovation Hub Programme addressed to?

The Programme is addressed to two groups of FinTech companies:

  • Entities planning to start activity in the segment of financial market under KNF supervision (e.g. startups) which have innovative product or service based on modern information technology (IT).
  • Entities supervised by KNF which plan to implement innovative product or service based on modern information technology (IT).
What are the benefits of participating in the Innovation Hub Programme?

The Programme provides the following benefits:
  • KNF support for the identification of provisions, regulations and supervisory positions applicable to the entity, business model, offered financial product or service.
  • Information on the principles of KNF supervision activity, the procedure for obtaining an authorisation to conduct a particular type of business, documents and guidelines available on the KNF website.
How to apply to participate in the Innovation Hub Programme?

In order to apply to participate in the Programme and send your enquiry, please complete our Contact Form.
The enquiry submitted via the Contact Form is assessed by KNF based on the eligibility criteria for participation in the Programme.

Eligibility criteria to participate in the Programme
Criteria            
Key questionPositive assessmentNegative assessment
Innovative nature of the solution
Is offered solution different from the ones existing on the Polish financial market and may be seen as innovative?

The solution changes the way of using the existing financial services or products.
The solution may have a positive impact on the development of the FinTech sector.
There are many similar solutions on the market.
OR
There is no change in the way of using the existing financial services or products.
OR
The solution is not related to the FinTech sector.
Preliminary analysis of the legal and regulatory environment
Has the entity conducted a preliminary analysis of the legal and regulatory requirements referring to the solution?
The entity has conducted a preliminary analysis of how the solution fits the existing legal and regulatory requirements.
The entity has not undertaken sufficient activities to understand the legal and regulatory environment.
OR
Unclear doubts on the legal and regulatory environment.
Real need for support (lack of legal certainty)   
Does the entity have a genuine need for support through the Programme?The solution does not easily fit the existing legal and regulatory framework.
The solution easily fits the existing legal and regulatory framework.

Depending on the nature and complexity of the enquiry, KNF may provide a response to the entity that met the eligibility criteria to participate in the Programme:
a)    by e-mail,
b)    by phone or
c)    invite the entity to a meeting at KNF premises in order to explain in detail the issue indicated.

For more information about the principles for conducting the Programme, please see the Programme Rules.