Poland among countries with most bank cooperations: report

According to a report by the consulting company Deloitte, published on Wednesday, Poland is at the forefront of European countries with the highest amount of cooperation between banks. There are 15 cooperations in the country, and only Italy can boast of a greater number.

Poland’s GDP to grow by 5 pct in 2021: Central Bank

The Polish economy will expand by 5 percent this year, while inflation will reach 4.2 percent, the National Bank of Poland (NBP) said in its July...

see more

The “Interbank ecosystems in Europe. Accelerated transformation through collaboration” report stated that since 2014 the number of “interbank ecosystems” in Europe, i.e. cooperation of at least three banks initiated to create new products and services, has almost doubled.

“Poland is at the forefront of European countries with the highest number of bank-to-bank cooperation,” it was reported, and stressed that “there are 15 cooperations in the country, and only Italy can boast of a greater number.”

As assessed by Deloitte, banks will more often cooperate with each other in the near future, mainly to prevent financial crimes and provide access to their offers to all social groups.

Przemysław Szczygielski, partner at Deloitte and the Financial Services Industry Leader of the company, assessed that it was the cooperation between banks “that changed the dynamics of the sector, because it made the industry grow faster and innovative products and services are created more efficiently.”

In his opinion, in the coming years, “interbank ecosystems” will be key to accelerating the transformation of financial products and services provided not only by banks.

The Deloitte report shows that 80 pct of interbank ecosystems were initiated to achieve cost synergies. The second reason was the desire to create platforms that meet the expectations of both banks and consumers (70 pp). The search for new sources of income was ranked third among the factors encouraging cooperation between financial institutions (30 pct).

Italians have the most interbank ecosystems (19). Poland ranks second with 15 such collaborations, while Portugal and Belgium each have 14.

In the global Deloitte study “Digital Banking Maturity 2020,” 5 out of 13 Polish banks were included in the group of 31 digital industry leaders. They perform best in the area of ​​opening accounts and managing cards and products, and they have the most arrears in remote customer support and the availability of additional non-banking services.

It was also stated that Polish banks have increased their advantage over global competitors in the field of online banking by developing mobile banking fastest.

source: