20:05 21 October 2019
Fintechs still waiting for licenses
After the implementation of the European Payment Services Directive (PSD2) in mid-September, entities with relevant licenses issued by the Polish Financial Supervision Authority (KNF) can start using free access to bank accounts. This gives a lot of room for the development of Polish fintechs. However, so far just one such company that is based in Poland has been included in the KNF register.
Legal Geek, which offer legal services for fintechs, points out that the issuing of licenses is being hindered by the lack of detailed Ministry of Finance regulations regarding the scope of information and the type and form of documents that need to be attached to applications for authorization to operate as a national payment institution.
On the other hand, the KNF informs that it is not receiving signals from entrepreneurs about problems with obtaining licenses.
