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, Financial Supervisory Authority (KNF) has launched the Innovation Hub Programme under which the supervisory body conducts a dialogue with FinTech companies by providing them with the appropriate explanations on the submitted enquiries, thereby supporting the development of modern technologies in the financial market while maintaining security and adequate client protection.
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 IT technology.
- Entities supervised by KNF which plan to implement innovative product or service based on modern IT technology.
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.
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.
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:
- by e-mail,
- by phone or
- 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.
