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4 noteworthy FinTech partnerships in Poland in 2022

By Gloria Methri

December 15, 2022

  • Business France Poland
  • Fairown
  • FinTech

FinTech, PolandFinancial technology (FinTech) is a term used to describe financial services which are predominantly technology-driven or apply technology to improve financial services. With the revolution of the internet and the heavy penetration of smartphones, access to technology has become highly affordable, further boosting the growth of FinTech, which has grown explosively.

FinTech partnerships are not the answer to every bank’s challenges. Partnering is only really required in areas where the bank’s existing core can’t deliver on the growth and transformation objectives. There are clear benefits for banks to partner with FinTechs and technology partners to drive revenue growth or cost improvements – they can access opportunities for earnings growth more quickly, cheaply, and with fewer risks.

Here are 4 FinTech partnerships that occurred in Poland in 2022:

Horizon Software, a leading provider of electronic trading solutions and algorithmic technology, announced this January that they are moving forward in Poland with the support of Business France Poland, on a dedicated business mission to expand Horizon’s services in that region.

The choice to collaborate with Business France was strategic and fit into the broader business goals of Horizon, supporting the growth and development of its global presence.

TerraPay, a global payments infrastructure company partnered with SendMN NBFI, a money transmitter and non-bank financial institution to ease the challenges associated with borderless payments.

This partnership allows customers to receive remittances from key corridors like the UK, US, Austria, Belgium, Czech Republic, France, Germany, Kazakhstan Poland, Sweden, Switzerland and allow access to key send corridors like Australia, Canada, China, Denmark, Japan, and the USA to name a few.

Polskie ePłatności (PeP), part of the European PayTech Nets / Nexi Group, acquired a majority stake in Team4U, the owner of Simapka. The move, in July, followed several acquisitions made by PeP over the past five years, including NeoTu, PayUp, TopCard, Billbird and PayLane, as part of its drive to become the leading provider of cashless payments in Poland.

Simapka provides solutions that enhance distribution and sales processes for retail outlets. Its app allows the registration of SIM cards, the sale of GSM top-ups or gift cards, and the number of transfers between operators, among others.

Estonian FinTech Fairown is advancing its products-as-a-service offering in Poland through a new partnership with Apple Premium Reseller, iDream, and a digital bank Inbank. This is Fairown’s second partnership in the country, after it entered the Polish market in July, by partnering with another Apple Premium Reseller Cortland. Fairown’s products-as-a-service platform allows banks, brands, and retailers to participate in the circular economy, centered around producing, consuming, and reusing products.

ALSO READ: Global Payments Vendors and Landscape Report Q3 2022

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