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Alior Bank is developing an acceleration programme for technology start-ups. The mission of the Warsaw-based accelerator is to identify innovative ideas of technology start-ups, support them in the development of their business, help them create added value for Alior Bank clients, and provide funding. As a part of the accelerator, the bank will open to third parties its development platform which uses the OpenAPI environment based on IBM technology implemented by TUATARA.

“It is our goal to have 20 partners by 2020, which is the time horizon of the Digital Disruptor strategy,” said Michał Chyczewski, Alior Bank Vice President and acting CEO. “It is our aspiration to be the bank of first choice for fintechs in Europe,” added Mr Chyczewski.

The bank will seek potential partners in Poland and CEE as well as beyond Europe. “Our people are looking at solutions proposed by fintechs in Europe, Israel, and the US. We have identified and contacted a number of interesting potential partners,” said Bruno Ferreira, Alior Bank managing director.

“We offer our partners a comprehensive acceleration programme. We believe that the project can build a bridge between the fast-growing world of fintechs and Alior Bank which is open to ideas of others, uses unique business know-how, and provides a portfolio of clients with world-class services,” said Mariusz Ożga, Alior Bank’s fintech director.

“We want to help our partners raise money for growth within and outside Alior Bank. We believe that it will change the market of fintech solutions in Poland and in the region,” said Bruno Ferreira. “Alior Bank plans to invest ca. PLN 100 million per year in innovations by 2020, including PLN 15-20 million per year in fintech partnerships and projects.”

Alior Bank will be open to third-party developers and fintechs in order to develop products originating from the accelerator and to ensure compliance with the future PSD2 requirements. Alior Bank believes that IBM API Connect meets all of its technology requirements and that the platform will greatly accelerate the prototyping, designing, and alignment of solutions before they are offered to clients. This will ensure safety and efficiency of development, as well as scalability of solutions.

“According to a recent survey of the IBM Institute for Business Value, 57% of managers in financial institutions say that the lines dividing traditional banks and competitors from other sectors are disappearing,” said Jarosław Szymczuk, IBM Polska General Director. “Leading banks are becoming a platform which integrates products from different suppliers while ensuring safety of transactions, which is the banks’ traditional competitive advantage. Those banks that can redefine themselves will enjoy the benefits of partnership with other players in the economic ecosystem, including start-ups and fintechs, by offering more innovative services to clients.”

IBM API Connect will be developed and implemented by TUATARA, a Polish developer of business solutions based on state-of-the-art technology, which contributes international experience in API implementations to the project.

“We are proud to assist Alior Bank in implementing its Digital Disruptor strategy. We believe that a partnership based on advanced tools of the digital economy will bolster the development of the API economy in Poland. We are currently launching a project in the Gulf which proves that collaboration of partners from different sectors not only fosters the culture of innovation but also creates new revenue streams for all involved participants,” said Bogdan Nowopolski, TUATARA Chief Executive Officer.

Henry is Junior Reporter at IBS Intelligence, follow him on Twitter or contact him at: henryv@ibsintelligence.com