Mensis.pl powered by Fintek nr 1(64) 2021 (ENG) by Mensis.pl

No. 1 (64) 2022

p. 9

Polish FinTech have record funding. Next stop: global markets Price 29,99 zł (incl. 8% VAT)

p. 15

Innovative Podlasie p. 4 Tech companies respond to Russian aggression p. 27 The power of Polish e-commerce. Allegro Pay conquers the BNPL market p. 44 Where is the hidden potential of the Polish tech community?

No. 1 (64) 2022

MENSIS.PL BY FINTEK

is a magazine addressed to modern entrepreneurs published regularly since 2011

Editorial Rafał Tomaszewski i Marek Zaleski

Tech companies respond to Russian aggression Monika Lipiec

Polish FinTech have record funding. Next stop: global markets Szymon Sypniewicz and Przemysław Kowalczyk were interviewed by Rafał Tomaszewski

Magazine covers topics concerning the impact of new technologies on the evolution of the banking sector, business and marketing. We invite you to visit www.mensis.pl and www.fintek.pl, the partner of the magazine. PUBLISHER Fundacja Nowych Technologii ul. Grunwaldzka 72 37-700 Przemyśl NIP 7952559681 REGON 386563698 Tel: 888 342 232 E-mail: biuro@mensis.pl www.mensis.pl EDITORIAL STAFF Rafał Tomaszewski editor-in-chief Fintek.pl Marek Zaleski editor-in-chief Mensis.pl Monika Lipiec - journalist Łukasz Matusik - journalist Paul Adam Bachowski - translator CONTRIBUTORS Rafał Czernik Mariusz Dąbrowski Arkadiusz Jadczak Mateusz Kopacz Marcin Kosicki Przemysław Kowalczyk Jerzy Kufel Katarzyna Niewińska Robert Strzelecki Szymon Sypniewicz Alicja Szymkiewicz

15 Innovative Podlasie An interview with Mr. Mariusz Dąbrowski 22 Poland is booming with technology! Robert Strzelecki 24 Misinformation has many names Mateusz Kopacz 27 The power of Polish e-commerce. Allegro Pay conquers the BNPL market Rafał Czernik were interviewed by Rafał Tomaszewski 30 Following a crowdfunding campaign Zonifero is betting on self-service SaaS, customer experience and global expansion Editors 32 Holo4Med investment plans following a successful crowdfunding campaign Editors 34 The Podlaskie region focuses on agriculture of the future. An Agricultural Valley 4.0 is being created Editors 38 Fintek.pl and the City of Lodz organize Fintech & E-commerce Linking Days 2022 Rafał Tomaszewski 40 How to choose the right technology partner to successfully bring innovations to market? Arkadiusz Jadczak 44 Where is the hidden potential of the Polish tech community? Editors 47 Flutter - the future of mobile business applications Jerzy Kufel were interviewed by Rafał Tomaszewski 50 What was 2021 like for the lending industry? And an Outlook for 2022 Monika Lipiec

editor-in-chief, fintek .pl

editor-in-chief, mensis .pl

Rafał Tomaszewski

Marek Zaleski

Poland is a Country of Innovation We are glad to find you once again reaching for an issue of Mensis.pl powered by Fintek.pl. We’re honored but - in this case - it is with great honor that comes great responsibility. This magazine is, after all, created for you – our readers. It is also with you in mind that we are changing. This is the first issue of our magazine available in two language version – Polish and English. You’ll soon be able to see us in London, Paris, Amsterdam and Hannover. Poland is a country of innovation, that’s why our technologies, solutions and the people who create them is something that it’s worth telling as many people about as possible. So, what’s inside this issue? We can’t “stop this world” – much less the war that’s happening across our eastern border – which is why we’ve prepared a few articles about how the tech world is reacting to the war happening in Ukraine as well as some content on the importance of cybersecurity. You’ll also find a closer look at “Podlaskie” – a region of Poland that can no doubt adapt to changes and creates innovative solutions very quickly. We’ve also got a thing, two… or even three to say about crowdfunding campaigns. We we’ll be looking at a couple of startups that have recently completed campaigns and analyzing a market that’s benefiting from an increasing number of professional regulations. We’d also like to mention that a few months ago, the New Technologies Foundation began working together with the PLUGIn – an organization which brings together people living outside Poland who are (or simply consider themselves to be) Polish. We’ve included and article about them as well as Polish Tech Days – a flagship event on the PLUGIn calendar that’s coming up soon. Enjoy the read. We hope you’ll find it inspiring.

Marek Zaleski

Rafał Tomaszewski

editor-in-chief, mensis .pl

editor-in-chief, fintek .pl

by Fintek

Tech companies respond to Russian aggression Monika Lipiec russian aggression against ukraine was condemned by the international community. representatives of many countries and organizations such as the european union did not stop at just words of criticism. their response was to introduce a number of sanctions on russia. Major technology companies, which have a huge impact on the russian economy and the lives of russians, were also put under pressure by the public to act. they have found themselves in a situation where they are expected to respond forcefully at the expense of their own interests. how did giants like apple, Microsoft, google, Meta or amazon respond to russia’s invasion of ukraine?

With war also taking place in cyberspace a passive re-

In response to the Russian invasion of Ukraine Apple has

sponse by the Big Tech industry could cause them to be per-

halted the sale of its products like iPhone and Mac in Rus-

ceived as an unwitting ally of the Kremlin. From the moment

sia. What’s more the Cupertino giant has made it impossible

the Russian attack on Ukraine began, there was pressure

for Russian residents to pay for purchases using Apple Pay.

on sites like Facebook and Twitter to join the fight against

They still have access to the App Store but more and more

disinformation. Calls to this effect came from various sources,

apps are disappearing from it every day. According to data

from the Ukrainian government to NGOs and media outlets.

provided by Sensor Tower to TechCrunch since the inva-

That was just the beginning of the pressure being put on

sion of Ukraine almost 7 thousand applications have disap-

technology companies. Specific and decisive actions from

peared from the Russian App Store.

the industry are most often loudly demanded by Mikhail Fe-

Microsoft has also suspended sales of new products and

dorov, the Minister of Digital Transformation of Ukraine. The

services in Russia. This means cutting off the ability to pur-

president of Ukraine himself, Volodymyr Zelenski, also ad-

chase Windows, Microsoft 365 or renew services offered as

dresses IT giants in his statements. Recently, he bluntly called

part of the Microsoft Azure cloud platform. However it should

on Microsoft, Oracle and SAP to stop providing support for

be noted that existing users of Windows software have not

their products in Russia. It’s also safe to say that at least an

lost access to it. Additionally, in a recently released statement,

equal amount of pressure takes place behind closed doors.

Microsoft said that it will help Ukraine fight cyber attacks.

Microsoft and apple are pulling out

Visa, Mastercard and paypal join in

of russia

the sanctions

The decision to cease operations in Russia is not an easy

Visa and Mastercard have complied with restrictions im-

one to make. It is not only a matter of losing profits but also

posed by the United States on some Russian financial insti-

a risk that a quick return to the Russian market may not be

tutions, among others, by cutting them off from access to

possible. That’s why we see many large corporations, includ-

their payment systems. The cards issued by these payment

ing technology companies, stopping or limiting their opera-

providers in the Russian Federation do not work abroad. In

tions in Russia but not leaving the country entirely. It seems

an official statement, Mastercard stressed that it will con-

that businesses, much like ordinary people, hope that the

tinue to work with financial market regulators so that, as

war will quickly end and a period of stability will follow.

sanctions evolve, the company will remain in line with them.

by Fintek

PayPal has also joined the group of companies that made

Play store cannot download paid apps or make payments

it impossible for Russian residents to use their service. The

on those already installed. These restrictions are a result

payments giant blocked the ability to create new accounts

of the imposed sanctions. In addition, for security reasons,

and suspended the operation of Xoom, an international

selected Google Maps features have been disabled in

money transfers service offered by PayPal. At the same

Ukraine – most notably access to information about traffic.

time, the American conglomerate assured the public that it

Improvements have however been made that are designed

is working together with government representatives and

to make the lives of Ukrainian refugees easier. On a special

various partners to actively comply with all applicable laws

map from Google they can see the locations of apartments/

and sanctions.

rooms where they can stay.

google suspends ad sales in russia

Meta takes up the fight against

The Google search engine can still be used in Russia,

russian propaganda

which is a move intended to help provide access to infor-

Meta, the company that owns Facebook and Instagram,

mation other than the propaganda of the Kremlin-con-

has blocked profiles linked to pro-Kremlin Russian media RT

trolled media. On the other hand, Alphabet, the owner of

(Russia Today) and Sputnik. The social networking giant also

Google, has stopped selling online advertising on the local

monitors and censors’ content on its sites that may present

market. The ban extends to YouTube on which access to

false information about the ongoing war.

RT and Sputnik channels has also been blocked. “We have

A controversial move on the part of Meta was the intro-

suspended the ability to display ads in Russia. We will also

duction of changes to the policy on hate speech on Face-

suspend ads on Google services and networks around the

book. The idea was to allow posts wishing death to Vladimir

world displayed by advertisers from Russia,” – the company

Putin. Zuckerberg’s company has already backed out of the

said in an announcement.

idea, stressing that – as far as moderation of the service in

Google Pay service is no longer available for custom-

this respect – only users from Ukraine will be treated more

ers of some Russian banks. In Russia, users of the Google

leniently. In response, the Russian prosecutor’s office called

by Fintek

for Meta to be recognized as an extremist organization.

assistance to non-governmental organizations working for

This, however, is not where the trouble of American compa-

the benefit of Ukraine and Ukrainian refugees. More than

nies in Russia ends. The Kremlin has blocked Russians from

450 technology companies from 40 countries have already

using Facebook and Instagram. While the former service

declared their willingness to help. The campaign is organ-

had strong competition in the form of VKontakte, Instagram

ized by Tech To The Rescue, a Polish foundation which re-

was used by over 80 million Russians.

cently presented the first round of results from its activities. These include, among others, creating a platform where ver-

AmAzon hAlts shipments to RussiA And

ified offers of help for refugees can be accessed, as well as

BelARus

the issuing a special series of NFT tokens for charity.

In response to the ongoing war, the e-commerce giant

Lastly a few words should be said about the involvement

stressed that its policy has long ruled out cooperation with

of FinTechs. When looking at their respose to the ongo-

the Russian government and that its Amazon Web Services

ing war, in most cases, they mirror those of banks, i.e. free

(AWS) cloud services platform does not have data centers,

transfers to Ukraine or providing easy ways to donate to

infrastructure or offices in the Russian Federation. Amazon

charity. There are also cases of special discounts for Ukrain-

has also decided to take additional actions in response to

ian refugees who sometimes also must deal with less for-

Russian aggression, which include the suspension of ship-

malities when wanting to apply for various products/ser-

ments of retail products to Russia and Belarus. In addition,

vices. UK-based Revolut and Poland’s own ZEN are among

the American conglomerate will not accept new business

the FinTech engaged in these kinds of activities.

partners and AWS customers from these countries. “For users in Russia, we are also suspending access to the Prime Video service and have stopped accepting orders for the New World game, which is the only video game we sell directly in Russia,” – said Amazon. the tech industRy suppoRts ukRAine Technology companies were among the first to immediately join, promote and/or organize activities conducted in support of Ukraine and its residents. They mainly provided financial support for humanitarian aid – Amazon alone made a donation of $5 million for this cause. And its not only market giants but also startups that have joined the effort to aid Ukraine. In Poland many tech companies have joined forces and are collecting funds through the Polish Humanitarian

monika lipiec

Action (PAH). It is worth noting that organizations and their employees

Editor Fintek.pl

often engage in a range of activities beyond making transfers. As an example, Elon Musk’s SpaceX delivered the Star-

A graduate of the Faculty of Political Science and

link system to Ukrainian cities. This allows their residents to

Journalism at UMCS in Lublin, where she majored

use satellite internet and thus stay connected to their loved

in International Studies. From 2017 to 2021 she

ones and the world.

worked on managing various projects financed from

We would like to express our appreciation to companies

EU Funds. She spends her free time listening to old

that have/are participating in projects supporting Ukraine,

songs and playing scrabble. A fan of Premier League

those who have found the will and time to work together. An

football, Zdzislaw Beksinski paintings and wordplay.

example of this approach in action is the #TechForUkraine campaign which is designed to provide technological

by Fintek

Polish FinTech have record funding. Next stop: global markets. Szymon Sypniewicz and Przemysław Kowalczyk were interviewed by Rafał Tomaszewski

In December 2021 the Polish FinTech Ramp raised nearly PLN 220 million ($53 million) in Series A funding. This is the largest amount ever raised by a Polish startup in that funding round. That’s how Ramp joined the largest startups in Poland - the list of local startups that have similar successes in these found rounds includes only Booksy, DocPlanner, Brainly and Uncapped. What will the funds be used for? What does Ramp offer? How did it get started? What are the FinTech’s plans for the future? Szymon Sypniewicz (CEO) and Przemysław Kowalczyk (CTO and CPO) of Ramp answered these questions and more. Rafał Tomaszewski: You recently raised PLN 220 million in a record-breaking Series A funding round. Have the emotions subsided yet? Szymon Sypniewicz: Obtaining financing is only one of the steps to success. From the moment the round closes to its announcement in the press several weeks usually pass. On average, companies that achieve the status of a unicorn raise financing every 9 months. After closing one round founders of companies that are in the growth phase tend to focus on next one. We have very ambitious plans in terms of development of our products and the company as a whole. We want Ramp to become the default Web 3 access platform worldwide and believe we can achieve this in the next few years – that’s what we promised investors. We are now working hard to make this vision a reality. R.T.: This is the biggest Series A round in the history of Polish startups. Do you feel honored to be on the receiving end? S.S.: Actually, it’s the biggest Series A in the history of Polish startups…so far. We feel honored to be trailblazers but - as I watch the Polish startup ecosystem grow – I’m optimistic that we’ll see an even bigger Series A round sooner rather than later. And then another and another. The Polish ecosystem is growing and has changed a lot over the last few years. We started looking for international investors from the start, which shortened our path to top talent and funds. Since we started Ramp Polish VC funds have evolved a lot. Three years ago, we did not consider serious talks with them, but today I would not see this as a problem. They have more and more capital at their disposal and more contacts, especially with international investors, which helps new companies grow fast.

by Fintek

R.T.: What will you use the money for? What are the plans? Przemysław Kowalczyk: Even faster development. We are talking about expansion into new markets, but also about the product itself and its features. Our mission, from the very beginning, was to provide instant access to Web 3 in a simple and secure way, compliant with regulations. Achieving this vision requires constant care and development of many elements that complement each other. S.S.: To achieve our goals we need a strong team. We already employ over 100 people, and by the end of the year we want to have close to 300 on board. We want to work with the best and we consider investing in our team as one of the keys to further development. R.T.: Let’s go back to your beginnings. How did it all start? Where did the idea to create Ramp come from? P.K.: The idea of decentralization has always been one close to my heart. I used to lend the computing power of my computer to research programs that use distributed computing. One day I read on an online forum about an interesting new project where you could earn money by using the computing power of your graphics card to mine cryptocurrency. S.S.: We started a few tech projects together, which were too ahead of their times. We also joined a startup together that was building a platform for decentralized P2P lending. Based precisely on crypto. It was there that we noticed that building a company in that industry and appealing to mainstream users ment having to address three areas: asset storage, user experience and ease as well as security of payments. We recognized that the first two problems would be solved quickly and decided to focus on the third. Our belief was reinforced when talking to many people in the industry who quickly forgot how they themselves started and didn’t think at all about the fact that taking the first steps in the crypto world is really hard. They didn’t see the need for an intuitive payment system. However, our idea was met with an enthusiastic response from industry leaders, who told us that this kind of platform was needed if we were going to attract crowds of new users to the crypto world. This became a driving force behind our idea. R.T.: What makes your solutions stand out? Do you have any competition? P.K.: Crypto can be bought in a million ways, but for a user who simply wants to use a Web 3 application, say an NFT-based game, and needs crypto to do so, it’s a lengthy and breakneck process. The mainstream user will have a hard time getting into it. S.S.: On the other hand, there are also closed systems like the one created by Revolut, which has cut out all utilitarian functions and become a purely speculative toy. You can’t withdraw crypto from Revolut and transfer it to your wallet. The only thing you can do using the platform is buy, sell or send crypto to another Revolut user. We want to make it easier for our partners and users to use crypto the way PayPal made it easier to use e-commerce in the late 1990s. Using eBay was difficult in the be-

by Fintek

ginning, as was using our local player on this market, Allegro. Today, shopping online is actually a one-click process. The same is true for Ramp and crypto. In the case of Axie Infinity, an NFT game popular especially in South-East Asia, we made it possible to shorten the user onboarding tenfold. From over two hours to a dozen minutes. If someone is developing a crypto app that is not just for speculation and is also supposed to have utilitarian value, they need Ramp. R.T.: And how many people do you currently employ? Are you looking to expand the team further? S.S.: The Ramp team today consists of more than 100 people who work from our offices in Warsaw, Wroclaw and London, and soon also from our first office in the USA, as well as remotely. By the end of 2022, we want to triple the size of our team. We are looking primarily for specialists and product managers, designers, programmers, salespeople and many others. P.K.: We develop Ramp globally, the vast majority of engineering and R&D work is done in Poland. We have great, talented engineers and programmers here. We also want members of the Ramp team to move from office to office. Mixing cultures and experiences is very important for our further development. This sharing of experiences will also help in the development of Polish talent. We hope that in a few years we will be talking about a “Ramp mob”, members of which will develop more innovative startups. R.T.: What markets do you currently operate on? S.S.: We are available in over 160 countries and territories. The majority of users today are from Europe and Asia. This may change soon, as the most rapidly growing region is North America. We also have plans to further expand our services and accelerate our growth in South America as well as Africa. Web 3 is a decentralized environment that can be accessed by users virtually anywhere in the world. Today, we work with over 400 partners who use Ramp in their applications. These includes Sorare, a French platform that allows you to collect licensed cards with players from over 140 soccer clubs, which raised a record-breaking $680 in funding in Europe at the end of last year. We also partner with Axie Infinity, an NFT game with over 2 million daily users. It was created in Vietnam but players from all over the world access it every day. R.T.: You are planning to expand in the US. You have even been registered with the US FinCEN. When do you expect to begin operations on that market? S.S.: Our services have been available in the USA – through a licensed partner – practically from the very beginning of our operations. FinCEN registration allows us to serve users directly today, currently in 39 states.

by Fintek

R.T.: Let’s talk about the American cryptocurrency market. Is it different from the European one? Is there anything particularly striking? S.S.: Cryptocurrency markets today are regulated along the lines of financial markets. We see the biggest differences between the US and Europe precisely in this area. On‑ramping, the conversion of physical currencies into crypto, is treated differently in every state. Most states require only registration at the federal level as a Money Service Business, but some require licensing at the state level. There is also the issue of user habits. A simple example - in Europe we have well-de‑ veloped systems of interbank transfers, such as SEPA. The users are eager to use them. Transfers in the USA is a much more complicated matter, after all, PayPal was created precisely to facilitate the transfer of money between people. This is also why Americans are very attached to their credit cards. R.T.: Let’s go back to your business. When are you going to reach profitability? Many FinTechs have trouble making money. How does it look in your case? When are you going to start making money? S.S.: It all depends on how we define profitability. If we wanted to - we could be profitable in the sense of positive EBITDA, but then we would stop growing. We are at a completely different stage. We are constantly developing the product, we have more and more cus‑ tomers and users. We made an agreement with our investors, partners and team that we would invest in growth until we became the default Web 3 access platform worldwide. The market we are in and the opportunity we face are huge. It’s not worth slowing down just to show a better bottom line on paper. R.T.: That is true. Finally - what are your plans for the near future? What do you want to achieve over the next few months? P.K.: In the short-term we want to make Web 3 possible. We have only completed about 20% of our product roadmap. The next steps are obvious - we will soon make it possible to sell our cryptocurrencies, and then we will introduce features and products to meet more user needs. S.S.: Among other things, we are working on acquiring licenses in other markets. Today we have licenses from the British FCA and the Polish KNF for open banking. We are also registered in the American FinCEN. The UK and the US are countries with some of the most developed and mature regulations in crypto areas, but we don’t intend to stop there. We want Web 3 access to always be easy, convenient and secure for users. And that also means regulatory compliance. R.T.: Thank you for the interview. S.S. and P.K.: Thank you.

by Fintek

About Ramp Ramp was founded in 2018 by Szymon Sypniewicz (CEO) and Przemk Kowalczyk (CTO, CPO). During their time working together at a different startup, the two men discovered a problem related to purchasing cryptocurrencies and other digital assets. Their FinTech makes it possible to exchange traditional currencies (PLN, EUR, USD etc.) into crypto – a process called on-ramping. Ramp users can purchase crypto using bank transfers, Revolut, debit and credit cards as well and Apple Pay. In 2021 the company was registered by the UK FCA as a cryptoasset business which means that Ramp complies with that country’s Money Laundering, Terrorist Financing and Transfer of Funds Regulations. The FCA compliance check included positive feedback on the way the company provides services, its safety protocols, skilled employees as well as other factors that increased AML capabilities.

by Fintek

Innovative Podlasie An interview with Mr. Mariusz Dąbrowski, Director of the Investors Assistance and Business Promotion Bureau at the Podlaskie Voivodeship Marshal’s Office

Rafał Tomaszewski: What are the most important assumptions of the Podlaskie Voivodeship Economic Promotion Strategy? What was the main source of inspiration for its authors? Mariusz Dąbrowski: The economic promotion strategy of the Podlaskie Voivodeship is built around three main areas: support for exporters, attracting external investments, including foreign ones, and building a positive image of the region. Nevertheless, we are flexible and adapt to rapidly changing geo-economic conditions. Because of the pandemic, war in Ukraine and the difficult situation in Belarus, we’ve concentrated our efforts on strongly supporting exporters. Some companies in the Podlaskie Voivodeship are currently facing challenges related to shifting the focus of their business and we are trying to help them.It is worth noting that our plans related to this aspect of our activities were developed based on the largest market research conducted among exporters from the Podlaskie Voivodeship in the history of the Marshal’s Office. Participants included 400 companies selling their products and services to foreign markets. We asked companies exactly what kind of support they needed and are now trying to meet the expectations of entrepreneurs. R.T.: How did the above-mentioned research conducted among entrepreneurs from the Podlaskie Voivodeship impact the economic promotion strategy? M.D.: The interviews conducted as part of our research showed things that statistics didn’t. For example, statistics do not show how important Belgium is to the Podlaskie Voivodeship. Residents in the region feel this way because a lot of Poles from Podlaskie have settled in Brussels. Our research confirmed the hunch that Belgium is more economically important than CSO data suggests. In any case, we are now not walking in the dark without a flashlight, and the example of Belgium shows that it was definitely worth investing in market research. R.T.: Let’s stay on the topic of research. What key conclusions were drawn from it? M.D.: Research has generally shown that our main export destinations are Germany, France, the UK, the Baltic States and the Benelux countries. Scandinavia is also important. But the interviews confirmed that our support is necessary especially with non-European destinations where politics is important. For example, if a local company wants to do business with China, prior political cooperation between our two countries helps facilitate business. That’s why, in the future, our perspective will include more non-European markets.

by Fintek

R.T.: How does the Podlaskie Voivodeship compare to other Polish regions in terms of potential to attract investments? M.D.: We noticed that there is still a lot to do when it comes to inflow of investments. In order for investors to be attracted to the region appropriate areas of investment must be prepared. Unfortunately, Podlaskie is a bit „behind” other voivodeships in this respect i.e. those located in the west of Poland have a natural advantage because they are located closer to western European markets. That translates into making it easier to attract investments from Germany, the most important foreign investor in Poland. On the other hand, some investors may now be scared to look for opportunities east of the Vistula River. That makes our task even more difficult than in the case of some voivodships. We do however have a strong and competent team that does everything it can to shorten this distance. Its potential was showcased at the Diplomatic Opening of the Year organized by the Polish Chamber of Commerce, which took place in February this year. Namely, among various Polish regions Podlaskie Voivodeship stood out because of its pro-active approach and excellently prepared promotional materials. R.T.: In which areas does the Marshal’s Office see opportunities for the region? What is the natural advantage of the Podlaskie Voivodeship? M.D.: Our advantages have been identified in the Smart Regional Segmentation framework. We have a strong agro-food industry, metal-machinery and boatbuilding industry, medical and life sciences sector and several so-called eco-innovations related to areas such as ecological construction or renewable energy. In addition, the region has a strong position in plastics processing. In conducting our activities, we focus on the above-mentioned segments, but if another sector is important for a given market, we also include it in our agenda. From the point of view of economic potential of the region clusters are also very important (editor’s note: these are groups of companies operating on the basis of partnership in interrelated areas of economic activity). In Bialystok there is the Polish Construction Cluster and Metalwork Cluster, which have the status of Key National Clusters. Undoubtedly out voivodship’s advantage is its strong scientific center, especially the three largest universities located in the region’s capital: University of Bialystok, Bialystok University of Technology and Medical University of Bialystok, at which the Centre for Artificial Intelligence in Medicine has been established. However, companies from the medical sector in the region are only just building their position, except for the production of implants. Here the Podlaskie voivodeship has a very strong position, not only in Poland. R.T.: What can companies that invest in the Podlaskie Voivodeship gain? M.D.: Nowadays, thanks to the Polish Investment Zones, Poland as a whole offers a wide range of possibilities in terms of tax benefits. The Podlaskie Voivodeship is additionally located in the Suwalki Special Economic Zone, which offers the largest amount of tax reliefs in the country to new investors. The region offers a high standard of living, mainly

by Fintek

due to its natural environment and tourist attractions. Although these are non-economic aspects, they should be considered. Potential investors may be interested in the condition of the infrastructure of the Podlaskie region. Bialystok is well-connected to Warsaw by roads. The construction of Via Baltica, a route connecting the Baltic countries with Poland and passing through Podlaskie, is nearing completion. Via Carpatia, which will connect the Baltic countries with the Balkan Peninsula, will also run through the region. Thanks to it the whole eastern part of the European Union will be connected from north to south. It is worth mentioning Rail Baltica, a railroad line connecting the Baltic countries with Western Europe. Podlaskie is part of the so-called Rail Silk Road, which is a railroad connection between China and the EU. R.T.: Podlaskie is at a crossroads of European and Asian trade routes. You are intensively promoting the concept of the Silk Road railroad. Are the first effects of these activities already visible – is there interests from Asian companies? M.D.: Asians, mainly Chinese, Japanese and Koreans, are already taking an interest. It is also attracting interest from Western Europe, with the French being the most active at the moment. In fact, we are just beginning our adventure with the New Silk Road. Unfortunately, it really started taking shape at the same time as the crisis on the Polish-Belarusian border, which was followed by the war in Ukraine. Although the timing is unfortunate, we have had regular connections between China and Western Europe since autumn 2021. Trains are transshipped in Podlaskie Province at the Chryzanów terminal in the Narewka municipality. Another intermodal terminal in Sokółka will soon be put into operation. Nevertheless, we have estimated that Podlaskie may receive from 10% to 15% of all container cargoes on the Silk Road railroad, which translates into huge revenues for the state budget. R.T.: How would you assess the use of the region’s economic and investment potential to date? What do you consider your biggest success, and what perhaps should have been done differently? M.D.: I started managing the Office of Investor Assistance and Economic Promotion of the Marshal’s Office a few months before the outbreak of the pandemic. In that kind of situation successes aren’t really the right word, during the pandemic we focused mostly on getting ready for the work we are doing now. We placed a big emphasis on market research so that, when the pandemic was over, we wouldn’t waste precious time and would know exactly what to do. Among the the effects of our work is a new website supporting our message and published promotional materials. We may have not been very externally visible over the past 2 years but have now rebounded with new energy and various activities in the field. In April, we organized an economic mission to Paris, in May we are flying to Brussels, in June to London. In September we are also planning to visit the Baltic countries and in October - Germany. Our calendar also includes trips related to the Agricultural Valley 4.0 project, with destinations such as the United States, Israel and Finland.

by Fintek

R.T.: Let’s talk about barriers and challenges. Have circumstances like the pandemic and now the war in Ukraine changed any plans, or perhaps given rise to new opportunities? M.D.: The pandemic, as I already mentioned, forced us to stop certain activities related to economic promotion – but that time has, in essence, already passed. Many things are now going in the right direction - key infrastructural investments have been completed and activities promoting the region have started. Now we are counting on the stabilization of the situation beyond Poland’s eastern border. Perhaps in the current international situation some companies investing in the area of the former USSR will be more inclined to choose Poland, including Podlaskie Voivodeship, as a place for new investments. That translates into several potential opportunities, but also some threats. We are the eastern border of the European Union, that location may cause some anxiety among potential investors. R.T.: You also promote your region abroad: in Paris, Brussels, Germany, and last year Dubai. You’ve launched projects with international partners. How has the cooperation with them progressed so far? Why exactly, aside from the survey results mentioned earlier, were you interested in these countries? M.D.: We have chosen the destinations that have the greatest potential for cooperation. However, we are only beginning to build relations, so far Podlaskie Voivodeship has not yet established many of them. Fortunately, we have been able to find appropriate partners in many regions. In Belgium we are going to cooperate with the hub.brussels economic agency, representing the Brussels Capital Region. Recently in Paris we held talks with representatives of the French Ministry of Foreign Affairs. On each trip abroad we try to reach out to institutions that could be important potential partners in the future. In a sense, many things are happening from scratch, it would be easier if we had established relations like some Polish regions, but we are at the beginning of this road and we are focused on building long-term relations. R.T.: How has the cooperation with entrepreneurs from Podlaskie Voivodeship gone so far? How would you assess their level of interest in your projects? M.D.: We take representatives of the Podlaskie SME sector with us on foreign trips these are companies with various kinds of potential. We never know who will be successful and who will not. Our role is to create conditions for companies from Podlaskie to meet with potential foreign partners accompanied by regional authorities. Outsiders who attend our events know that the companies we promote are reliable and doing business with them is worth the risk. Here success is defined by the contracts entered into by companies from Podlasie. As far as business interest in our initiatives is concerned, we are just getting started. That’s why it is hard to assess. When we began recruiting for our mission to Paris there were ca. 2 applications for one spot. Interest in the next project of this kind is even greater. We expect a snowball effect - when our actions lead to affects you can

by Fintek

see, I except many more applications. Following the pandemic recruitment interest has been very high – we’ve managed to reach entrepreneurs and arouse their interest in working with us. R.T.: In May you will appear in Brussels on a mission. What is the main purpose of this visit? What do you want to achieve during it? M.D.: In Brussels we will focus primarily on the construction industry, namely building materials and interior design. We will be at one of the biggest fairs being organized for representatives of this sector: the International Trade Fair for Construction, Renovation and Interior Design in Brussels which is called Batibouw 2022. It will take place in the second half of May. Our flagship event will be a business seminar in Brussels, where in addition to the construction industry, the agri-food sector will be present. R.T.: I would like to ask about www.investinpodlaskie.pl What role does it play in the new promotion strategy? M.D.: This new website in an extremely important part of our business promotion strategy. It allows us to organize and talk about external events. Sub-pages are created on it dedicated to specific events, for which potential participants can register. We also use the site as a recruitment tool for seminars and foreign missions which allows us to limit formalities. In turn, the available analytical tools provide us with information about traffic on the website, thanks to which we can analyze how campaigns related to a particular event work. This allows us to draw conclusions and adjust actions on an ongoing basis. R.T.: Please reveal your plans for the future. What is your biggest priority today? M.D.: In the nearest future our priority will be to show the world that this part of Europe (Podlaskie Voivodeship) is a safe place to do business. We want to convince investors that there is no reason to worry. Watching media coverage of what is happening in Ukraine and in the region, they may form a different opinion. We want above all to show that Podlaskie is a safe place for investments, well-communicated, rich in human resources and run by with an efficient local government. Generally speaking, we are at the stage of convincing business to consider us and our region. R.T.: Many of your promotional activities are connected with foreign trips. Will there be any local initiatives or events in the Podlaskie Voivodeship? M.D.: In Białystok we are going to organize the Podlasie Economic Forum, which will take place on October 5-6 this year. We want it to be the biggest event in the country focused on economic cooperation between Poland and East-Asian countries. We will invite representatives of the local business world in East Asia to visit us, so that they can get to know our region better. We are already in regular contact with representatives of the embassies of Japan, South Korea and China. We also have good relations with the Embassy of Thailand. Soon this network of contacts will expand to other countries.

by Fintek

We want to organize a big event in Podlaskie Voivodeship on an annual basis, each one devoted to cooperation with a different, selected region of the world. R.T.: Thank you for the interview. M.D.: Thank you.

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by Fintek

Poland is booming with technology! Robert Strzelecki The Facebook post published by Netflix, beginning with the words: “Later, it was said the man came from the north, from Ropers Gate.” caused quite a stir. Not just in Poland but all around the world. This is how the global video content provider announced the premiere of The Witcher series. The series is based on the novels of the Polish author, Andrzej Sapkowski. However, Geralt, the main character, and the author himself owe their worldwide popularity, which is not limited only to fans of fantasy, to the Polish game development studio CD Projekt RED, which has published three games about the Witcher’s adventures to date. These productions were enormously successful, and I would hazard to say that if not for the labor of the people who successfully transported the universe of the fantasy novels into the realm of gaming, Netflix would not have taken an interest in the story.

Thanks to the innovation and unconventional ideas of the

seemed impossible with such limited means to those living

developers of the Witcher games, Poland ceased to be as-

in Western Europe or the United States. The examples in-

sociated solely with Pope John Paul II, Lech Walesa, and its

clude the EMAL-2 computer, built in Warsaw in 1957-58, and

admittedly excellent vodka in the global awareness of con-

the FSO Syrena 110 car, which was one of the first cars in

sumers, most likely for the first time. In addition, thanks to

the world with the hatchback body that is so popular today.

CD Projekt RED, Poland has made a very strong mark on

Fortunately, we have not lost this trait along with the col-

the map of modern technologies related to mass culture. It is

lapse of the previous political order. Because of these lost

because of these games that people from around the world

years, Poland is ranked in the middle of rankings that take

picked up the Polish author’s books.

into account many factors. For example, Global Innovation

The example of the Witcher is the most spectacular one. In

Index 2020, which studies the innovation of the economy

the global marketplace, the names of organizations and solu-

as a whole, puts Poland in 38th place. We may lack certain

tions are typically in the English language. But that doesn’t

foundations, but we make up for these deficiencies with the

indicate the place of origin. This is why I feel obliged to high-

creativity and passion of our people. In many areas of digital

light that there is a huge number of solutions created by Pol-

innovation, we are a country that is taking the lead. This was

ish specialists, all deserving of attention.

the case with regard to banking services, for example. Since Poland had skipped many stages of development in the bank-

Poland - a country that is making uP for

ing sector, we became a testing ground for new solutions like

lost time

contactless payments. There was a time when, while trav-

Poland is a very interesting country when it comes to IT

eling around the world, I had the sense that the quality and

investments, innovation, growth potential and the develop-

innovation of banking services in Poland was well ahead of

ment of solutions. For at least 30 years, the country has in-

what I encountered in other countries.

tensively been regaining ground in terms of innovation and

The Polish ICT market is strong and constantly growing.

entrepreneurship in general. Throughout the period when

The pandemic left this sector virtually untouched. Today,

communism was the dominant political force in Poland, my

nobody remembers the market breakdown that lasted

countrymen specialized in creating and doing things that

one quarter.

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According to data from IDC, in 2020, the Polish ICT mar-

transmitting the virus, but it also accelerated the patient ad-

ket grew to USD 19.3 bln (PLN 75 bln). Growth above 5%

mission process. The platform’s universality means that it will

is forecast for the year 2021, which means that the value

remain relevant even when the Covid19 virus will be brought

of the ICT market in Poland will exceed USD 20 bln. This

under control. It can be used in nursing homes, healthcare

will happen because, among other things, a decidedly larger

centers, research centers and military hospitals.

number of respondents – including in the industrial sector –

Poland is a country of great aspirations and willingness to

intend to increase expenditures for IT. IT itself is worth USD

act. We are open to changes. We know that without this, we

12.55 bln (approx. PLN 49 bln). A year ago, the value of this

will not have a chance to develop. This is precisely why tech-

segment of the ICT market amounted to USD 12.24 bln (ap-

nological novelties are adopted so quickly in Poland. Tech-

prox. PLN 47 bln).

nological sandboxes are being created – such as the fintech

Poland is also the target of enormous investments by global

sandbox mentioned earlier, which has brought our country

potentates. Google has already launched its data center, which

to a leading position in terms of the digital transformation of

represents an investment of 2 billion dollars, according to the

the banking sector. Such an approach is making Poland one

company’s own reports. Microsoft also announced a data

of the most technologically qualified societies in the world.

center investment worth a billion dollars a year ago.

Despite my intense aversion to the previous political sys-

The Polish government is unafraid of digital innovations

tem, I must stress that today’s successes earned by Polish

in the ICT sector, which is quite welcome. The Prime Minis-

programmers are the result of the very strong emphasis on

ter’s office has brought the GovTech Center into being, an

exact sciences in the education of communist Poland. This

inter-ministry team working under the Prime Minister. Gov-

inheritance given to us by times past has stayed with us, and

Tech’s overriding objective is to coordinate the entirety of

today, we reap the benefits. According to the Harvard Busi-

the process of creating digital tools by the public administra-

ness Review ranking in the category of ”Tech Skills”, Poland

tion. The Center is also responsible for critical digitalization

ranks 5th in the world.

projects in Poland – from those that are already functioning to those that are just being developed. Importantly, individual ministries are also implementing advanced IT projects with the purpose of providing digital services for citizens. Among others, the Department of Innovation at the Ministry of Health is realizing the Home Medical Care program. The goal of this project is to provide technological support for remote treatment of patients who do not require hospitalization. More and more Poles are also using digital services

Robert Strzelecki

provided by the public administration, such as ePrescription, digital driver’s license and personal identity card, and check-

A graduate of the Polish-Japanese Academy of

ing the number of penalty points a driver has accrued.

Information Technology. He has been involved in

The pandemic was a particular force in stimulating inno-

the IT industry for over 15 years, which results

vation at IT companies in Poland. Our company, Holo4Med,

in participation in over 100 completed projects,

created a telemedical platform called MediSMART, which

both Polish and international (Primark, iAlbatros,

integrates, among other things, medical consulting services

Commerzbank, DIMO Gestion). The projects

with the use of Mixed Reality technology and imaging of an

were carried out for both the commercial and

operative field in the form of a hologram. In medical consul-

public sectors. He has experience as both a sup-

tations, the platform enables remote monitoring of patients

plier and recipient of IT services and systems. This

based on mobile diagnostic devices and artificial intelligence,

knowledge allows him to help, audit and evaluate

as well as remote access to medical data, both in laboratories

start-ups, IT projects and other business ventures.

and at the doctor’s office. During the difficult time of the pandemic, this solution made it possible to limit the risk of

by Fintek

Misinformation has many names Mateusz Kopacz As this article is being written a war is going on. It has been going on for months and could have easily been predicted... but it took everyone by surprise. It’s hard to start on a positive note given the circumstances, but I’m going to try. You must always think that the Internet makes the world a better place every day. Thanks to it, scientists exchange discoveries in near real time, barriers caused by disability disappear, and banks and insurance companies can offer products that are better suited to the needs and expectations of their customers.

The sad thing however is that, just like the knife that

emotions. Using the right techniques, we can make feelings

you use to prepare a meal can injure us, the Internet hides

about, for example, refugees or the war itself change dras-

a dark side. The side that can attack bank servers or cell

tically in the blink of an eye.

phone operations and put large companies out of business.

According to the Institute for Internet and Social Media

The side that directly attacks us - people. It goes straight to

Research (IBIMS), two days before the Russian attack (data

our minds. It introduces fear and a sense of physical dan-

from the 21st and 22nd of February), about 4.5 thousand

ger and causes panic. Misinformation. What does this term

mentions and voices directly supporting Russia’s military

mean? It is a series of deliberate actions undertaken for the

actions against Ukraine appeared in the Polish network.

purpose of creating a false message which contains inten-

Practically every day of this war, the Institute has reported

tionally misleading information. At the same time, the party

an increasing amount of attacks focused on misinformation.

creating this kind of message wants to use it to achieve

The objective here is simple: appeal to the most basic hu-

a specific objective, such as gaining sympathizers or weak-

man instincts in an effort to whitewash the image of the ag-

ening the morale of the target. In the age of the Internet, it

gressor and turn the victims into the attacking party, those

is easy to give misleading information a grassroots charac-

guilty of the conflict.

ter - to make it look like it came from a “live witness” and not a government representative.

In the war against Ukraine, the vast majority of countries sided with our eastern neighbor. As a result, Russia now

As we discuss the subject of war, it is worth noting that

faces cyberattacks that are carried out from all over the

the repeatedly predicted scenario according to which the

world. Let’s not forget that the Internet doesn’t know/re-

next conflict in Europe would consist mostly of attacks on

spect national borders.

information systems has not come true. Current events in

Russians, who are regarded as the pioneers of war in

Ukraine involve primarily so-called physical fights and am-

cyberspace, are being targeted every day with new cam-

munition, not numbers and figures. Cyberattacks on infra-

paigns aimed at: printers, cameras, social media networks

structure have been reported, but one gets the impression

and/or television broadcasters. The weapon in this battle

that those have been focused on attemps to misinform

is information - real information, undistorted by Russian

the public. Once again, the words uttered by Hiram John-

propaganda. Thanks to these attacks, the Russians citizens

son - “The first casualty of war is truth” - are being tested.

can see the atrocities being committed by their soldiers on

This also confirms the old saying that the weakest link in

the Ukrainian people. Today in Russia, virtually all social

cybersecurity is man. It’s ordinary people that suffer most

media networks are disabled - you can only access them

because of misinformation. Using modern methods of de-

using a VPN, but these services are illegal, and you can go

livering information we can change moods and/or control

to jail for using them. Most of what Russians know about the

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war will reach them via pro-government television which,

voter manipulation. On the other hand, the dangers related

according to an old joke “tells the truth only when it makes

to the growing power of technology have also not gone un-

a mistake”.

noticed among those in government. We need to regulate

It is true that propaganda has been part of all previous

the unlimited power of information in a world where the law

conflicts, but the power and influence of that propaganda

is always a few steps behind the speed of technology. We

was limited by the lack of universal access to mass media.

need to do this while remembering about things like digital

Additionally, the profession of journalist belonged to an

freedom and defending a citizen’s right to privacy. Nothing

elite group of “public trust professions”. The Internet has

is given to us forever and freedom, including the digital kind

changed this forever. Today, anyone who generates content

is a one-of-a-kind value. Currently, misinformation targeting

is considered a journalist. In 2022, 75% of the planet’s pop-

Polish citizens is designed to generate fear and chaos in an

ulation has access to the Internet and derives its knowledge

effort to destroy our solidarity: something that the whole

from that source. That’s a dangerous phenomenon. I would

world has again began praising us for. Let’s not let the trolls

venture to say that the level of knowledge of citizens about

win, let’s do our best to verify the quality of the information

the threats they may face in the digital world is very low.

we get online.

A lot of new words have appeared lately: phishing, fake news, deep fake, ransomware, OSINT. – but whatever you call it; the name of this game is access to information. In the digital world information can be true, false, manipulated (partially true), or true but used in the wrong context. And the ability to recognize these categories is called a protein firewall. It has become clear over the past month that misinformation and deception is a weapon. Russia has years of experience in carrying out activities intended to affect the political landscape. An attempt to influence the outcome of the US presidential election using voter profiling algorithms or a deepfake depicting Ukrainian President Volodymyr Zelenski announcing his surrender and calling on citizens to stop fighting are just the most glaring examples. The phenomena I’m writing about is intensified by the fact that social media are unwittingly a propaganda „tube”, and technology is getting more and more powerful every year, which means that this “pre-packaged” information can ef-

Mateusz Kopacz

fectively reach a wider group of people than ever before. Thanks to whistleblower Frances Haugen, an uncommonly

A manager with 14 years experience. Since the

brave person, we learned that Facebook algorithms have for

beginning of his career, he has been associated

many years promoted content that antagonized and divided

with the banking sector. Currently responsible

society. And the more negative reactions they evoked, the

for the development and creation of prod-

better they were positioned, which also meant they were

ucts in the area of cyber security. Enthusiast

to suggested to others more frequently. The political elites

of digital transformation and passionate about

have been forced to speed up work on a document that will

artificial intelligence. Develops his own tool

be called the Digital Services Act, which I am convinced will

for early response before an incident occurs.

come into force in the European Union later this year.

Follower of the maxim “sharing is caring”.

What we are dealing with is a great temptation of those in power to use modern technology as a tool for effective

by Fintek

The power of Polish e-commerce. Allegro Pay conquers the BNPL market Rafał Czernik were interviewed by Rafał Tomaszewski

The deferred payments market is growing at a very fast pace - not only in Poland but throughout Europe. There are already many providers of BNPL solutions in Poland, but Allegro Pay is becoming one of the market leaders. In 2021 Allegro financed transactions worth over PLN 2 billion using this fintech solution. What makes deferred payments such a popular option on the platform? How exactly does Allegro’s fintech work? Will it be further developed in the future? How are credit scores of customers checked? These questions were answered by Rafał Czernik, Director of Consumer Financial Services at Allegro. Rafał Tomaszewski: Let me start with a difficult question. Is Allegro a fintech? Rafał Czernik: You not only can start that way, but you should. Allegro Pay is the most innovative fintech solution offered by Allegro. It is also one of the most transparent, simple and secure Buy Now, Pay Later (BNPL) services on the market. Our advantage comes from the fact that we are part of a powerful e-commerce group. Which lets us provide access to a huge selection of goods while also guaranteeing safety of purchases. R.T.: Well, let’s talk about Allegro Pay. How many people have already used your solution? According to the latest data, in 2021, you financed transactions worth over PLN 2 billion. R.C.: Allegro Pay was made available to all who applied a few months ago, which very quickly translated into the need to increase the annual lending value goal. We cannot go into details, but the service has been very well received by buyers. Allegro services support one another and let’s say the success of Allegro Pay facilitates the development of Allegro Smart!, which in turn translates into more interest in Allegro Pay. R.T.: What exactly does Allegro Pay enable? What services are we talking about here? R.C.: Allegro Pay allows you to defer payments and installments, giving you more financial flexibility and providing customers with a safer and easier shopping experience. Getting access to the service takes just a few clicks. External funding for individual purchases is no longer necessary, the entire process can be handled by Allegro internally and using funds provided by Allegro. It can’t get any easier than that.

by Fintek

R..T.: And what else might we see in the future? What solutions are in the works and can be talked about? R.C.: We see Allegro Pay as one of the levers for our future growth because we are confident that it provides customers with more flexibility and security - I say it again and again, but that is what we are striving for as a group. We, and the market as a whole, can only benefit if sellers and buyers are both happy with solutions. In the case of Allegro Pay, its features seem to have perfectly matched the needs of the market. R.T.: At last year’s Fintech Awards Gala organized by Fintek.pl Allegro won the main prize in the BNPL category. This solution has also been recognized in other contests. I guess it’s safe to say that it has been successful? R.C.: Let me answer with a specific example: the NPS of the service measured during the pilot phase reached a level that is unprecedented in the world of financial services - 89. I could dwell on the uniqueness of Allegro Pay, but consumers are the ultimate judges and to say that they liked the service is a huge understatement. R.T.: In 2021, as Allegro Pay, you financed more than PLN 2 billion. What are the objectives for the coming year? How do they look after the first few weeks? R.C.: We do not disclose our annual objectives, but growth is part of Allegro’s DNA. Given how the range of services we offer is growing, there is no reason not to be optimistic about the future prospects of our BNPL solutions. R.T.: In Western Europe there is more and more talk about the risks resulting from the development of the BNPL market. Customers are losing control of their expenses; they buy more than they really should. What is the best way to deal with that? How can a deferred payment provider help? R.C.: The answer to that question has to do with our approach to the service itself: at Allegro, we provide each customer with a financial cushion based on his/her purchase history on our platform. It’s part of the shopping experience. Each buyer has access to several options when it comes to settling debt, including some that are available at no additional cost. Allegro also allows hassle-free returns if needed. Thus, all buyers have a very clearly defined spending limit and access to several forms of payment for their purchases, and they deal directly with Allegro, which makes the lives of sellers easier. Let me say it again: we offer transparent and tailored solutions. R.T.: And how do you rate the credit scores of customers? R.C.: As I mentioned, when deciding whether to grant a purchase limit we primarily use purchase data from Allegro. That allows us to tailor services to the needs and/or purchase power of specific customers. In selected cases, we also search external databases,

by Fintek

such as BIK. The amount of funds granted always takes into account the creditworthiness of the customer. The limit may be increased when we see that a customer is using the service and knows what he/she is doing. Informed use and customer safety are our top priorities. R.T.: As part of Allegro Business you are also developing deferred payments for the B2B sector. That is still quite an undeveloped area on the Polish market. How do these services differ from those for the B2C segment? R.C.: Deferred payment methods have been around in the B2B marketplace pretty much forever. Before that, they simply worked offline. When comparing these services with the B2C segment, you have to remember that first of all, the motivations and needs of B2B segment are completely different. In the case of an individual customer we more often talk about “buy and try / try on”. In the case of the B2B segment it is “buy, earn, pay off”. Also, the average value of the B2B shopping cart is higher than that of an individual customer. Business purchases are very repetitive, cyclical. The amounts for which this method of payment can be used are also different, and deferment periods are longer. Allegro Business, a solution that has been around for a year, is the first solution of its kind in Poland. It meets the comprehensive needs of the B2B segment including those related to seller financing. R.T.: Are B2B deferred payments very popular among your users? How might BNPL services for businesses evolve in the future? R.C.: In November 2021, we made deferred payments available to Allegro Business users. They could then be used for all listings on the platform offered by Polish sellers. It’s still very early but we already see we’ve hit the bull’s eye. The frequency of purchases using this solution has significantly increased. 7 out of 10 purchases made by customers actively using deferred payment on Allegro Business are completed using this method. R.T.: Thank you for the interview. R.C.: Thank you.

by Fintek

Following a crowdfunding campaign Zonifero is betting on self‑service SaaS, customer experience and global expansion. Editors

But, like in many other industries, when the pandemic started talks with potential customers stopped. Uncertainty

for Zonifero, a Proptech/Worktech startup, the fall of 2021 has been extremely intense. as a matter of fact you can say the same thing about all of the last 2 years. they’ve been extremely frantic times during which the startup greatly expanded the features of its service. Back in 2019, Zonifero’s representatives said it was a solution to make everyday office life easier for employees. the app’s features ranged from reporting defects to booking conference rooms or finding a colleague’s desk i.e. if he/she worked in a different department. all of these features were supported by iot sensors.

startup wants to be among the top 3 companies in the world that provide tech solutions supporting office work.

is never a good driver of investment. But as it soon turned

The main assets currently generating the company’s

out, what Zonifero had to offer exactly met the needs of

value are the people who create it as well as the solutions it

companies that had to learn to work effectively in times of

has successfully implemented in the office buildings of lead-

COVID-19. Today, Zonifero is a digital platform providing

ing commercial property developers throughout Poland

support to employees and employers as they work in a new

(Echo Investment, Cavatina Holding, Skanska). Zonifero

hybrid model. Meanwhile, at the end of 2021, Zonifero suc-

solutions are also used by employees of the most innova-

cessfully ran its campaign on the equity crowdfunding plat-

tive companies including Żabka, Avon, Wirtualna Polska and

form StockAmbit. The managers of Zonifero convinced 101

Aion Bank. The company also bases a great deal of its devel-

investors to buy shares in the company and reached 94%

opment on synergies in PropTech, WorkTech and HRTech.

of their maximum goal by raising a total of PLN 2.35 million from the market.

What does Zonifero intend to do With the funds raised?

„We will use the funds raised to improve customer

The above-mentioned campaign will allow the company

experience of our application, launch a solution in the

to improve the customer experience of its application, i.e.,

self-service SaaS model and expand the company’s

making it easier to use it more effectively. Another future

presence on foreign markets.”

objective will be to launch a version of the application in

– declares Jacek Ratajczak, CEO of Zonifero

the self-service SaaS model, which will make it possible to reach more customers, faster, regardless of their location.

The is bold plan but one based on a solid foundation in

This is a key element in Zonifero’s global sales growth strat-

the form of a well-coordinated and effective team that

egy. It will allow customers to start using a basic version of

consistently delivers on objectives. In the next 5 years, this

the solution on their own - and that in turn will make the

by Fintek

product more popular. The funds acquired in the campaign

application to communicate with these investors. It is in-

will also be used for scaling the company’s business on for-

tended as a place where investors can talk directly with

eign markets.

Zonifero – a space for exchanging opinions and ideas on the

The Zonifero application is currently used by over 20 thou-

company’s development.

sand people and the total area of offices equipped with the solution exceeds 200 thousand square meters. Zonifero

„We made it clear during the campaign that we do

allows employees to book a so-called hot desk, conference

not want to be one of those companies that raises

room or parking space. The company has successful imple-

funds, uses them to launch new services and features

mentations not only in Poland, but also in Singapore, France,

of its solution, but never talks to the investors that

Hungary, Czech Republic and Belgium.

made those things possible. By building a community on Discord we are delivering on our promise of open

WeB 3.0 technology makes it easier to say

dialogue with the people who trusted us. At the same

thank you

time, we promise that this will be an active space

Zonifero not only creates groundbreaking solutions – it

for communication. When it comes to the Web 3.0

also makes sure to let investors know what an open and in-

environment, we feel like a fish in water – which

novative company it is. In that spirt each one of 101 inves-

shouldn’t be surprising given the modern tech solu-

tors who actively participated in the campaign was given

tions we provide. That’s how we got the idea to issue

his/her own NFT tokens. NFT (non-fungible tokens) are

NFT tokens that will remind everyone that they are

blockchain-based certificates of authenticity used for phys-

Zonifero shareholders and can be actively engaged in

ical or digital goods. This marks the first time ever in the

the life of the company”

history of Poland that a company has thanked participants

– explains Jacek Ratajczak

of a crowd founding campaign with NFT tokens – a Web 3.0 technology. The tokens were provided by StockAmbit - the crowdfunding platform used for the Zonifero campaign.

The next stop for Zonifero is the NewConnect exchange. If everything goes according to plan, in 2022, the

According to Zonifero CEO Jacek Ratajczak, the NFT

company intends to apply for listing its shares on this al-

tokens are both a thank you to investors and an invitation

ternative trading system which is managed by the Warsaw

to participate in the Zonifero investment community. The

Stock Exchange.

company has even launched a special channel in the Discord

by Fintek

Holo4Med is a start-up with an

Holo4Med investment plans following a successful crowdfunding campaign

experienced team of experts that provides solutions designed for the medical industry. It creates innovations based on state-of-the-art technologies such as Mixed Reality. The company has won the trust of both individual and institutional investors. In total, over the last few months, it has raised nearly PLN 3.6 million from the market. A highlight among those activities was an equity crowdfunding campaign conducted

Editors

towards the end of 2021 during which it raised PLN 1.8 million from the market.

Then, in January 2022, the company started the year on

combines a mobile application with peripheral devices such

an even stronger note–signing two new investment agree‑

as a digital blood pressure monitor, glucometer, pulse oxi‑

ments. Augebit FIZ fund–an entity closely associated with

meter, stethoscope or a medical band. The solution also in‑

Mr. Tadeusz Wesołowski who is known for its interest in

cludes a virtual medical office, a comfortable place to treat

the healthcare industry – invested 1.3 million PLN in the

patients in cyberspace. Over one 1 million patients have al‑

startup. Holo4Med also received additional 0.5 million PLN

ready used this solution, which makes it the largest platform

from a large individual investor.

of its kind in the CEE region and positions it in the TOP 3 in

The company’s flagship product is the MediSmart tele‑

Europe as a whole.

medicine platform which can be utilized in several places

It is worth mentioning that the Holo4Med team was the

including hospitals, laboratories, clinics–both public and pri‑

first in Europe to use its module to provide secure remote

vate, as well as in medical universities or military hospitals.

communication between doctor and patient – transforming

It can also be used to provide remote homecare to patients.

telephone consultations into video consultations using the

The platform includes four modules: MediXR, MediHELP,

Azure Communication Services platform from Microsoft.

MediLIS and MediCR, which can function separately or as

This kind of video call, although it will not replace

part of an integrated system. Among its many features the

a face‑to‑face meeting with a doctor, allows for more accu‑

platform utilizes Mixed Reality technology making it pos‑

rate diagnosis than a phone consultation, and the medical

sible to visualize organs or access moving holograms. In

data sent as well as the connection itself are secure. The

addition, through the use of mobile diagnostic devices and

solution will significantly increase the availability of doctors

cognitive analytics supported by deep learning algorithms,

for patients who have, for example, problems with mobility

as well as access to medical data from hospital laboratories

and getting to a hospital.

and the doctors themselves, it is possible to remotely mon‑

Thanks to the cooperation with the Clinical Center at the

itor patients in their homes. The solution can also be helpful

Medical University of Warsaw the startup is also developing

when conducting clinical trials.

the HoloMIAI. The project can be used in thermoablation

One of the platform’s most interesting modules, one that

procedures and utilized – among others – to treat cancer.

each of us can interact with directly, is a hybrid telemedicine

This imaging‑navigation solution has already been used dur‑

platform. MediHELP makes it possible to remotely monitor

ing 30 procedures carried out by leading academic medical

the health of patients in their own homes. This technology

units in Poland. Funds obtained from investors will be used

by Fintek

to further develop this technology and transition it from the

solutions–Laboratory Information System. The company

research phase to introducing finished products and services

has recently announced plans to develop two segments of

on foreign markets. According to the assumptions developed

medical diagnostics: I) Pathomorphology II) Providing sup‑

by the company’s management board it is focused on achiev‑

port to analytical laboratories.

ing three main objectives: Complete development of its solu‑

In order to help achieve the third objective Holo4Med

tion designed for hospitals (MediXR) by introducing Mixed

has also acquired a global strategic partner: LabVantage –

Reality technology into the day‑to‑day lives of medics. The

a company doing business in IT systems integration of hos‑

solution will be helpful in medical rounds, patient registration

pital laboratories.

and procedures in vascular surgery, interventional cardiology, cardiac surgery as well as orthopedics.

In addition, in the longer term, Holo4Med plans to begin FDA (Food and Drug Administration: the US government

Further development of the HoloMIAI module making it

agency that inspects and approves medical devices, among

possible to use Mixed Reality for minimally invasive destruc‑

other things) certification, which will enable it to offer its

tion of cancerous lesions. The solution allows for the con‑

products on the US market.

struction of a personalized, anatomical model of the patient

Another important step for Holo4Med will be a listing

using 3D holograms. Thanks to this feature surgeons can

on the NewConnect exchange which is planned for next

see the position of the tools they are using inside a patient’s

year. Getting on the “alternative” floor of the Warsaw Stock

organs in real time (in a form of hologram). Funds raised from

Exchange will be a huge steppingstone in the company’s fur‑

investors will make it possible to further develop HoloMIAI

ther development – and will happen immediately following

technology and introduce pilot implementations around

its transformation into a joint stock company.

the world. The company has started looking for partners in Western Europe, the USA, the Arab Emirates and Singapore so that it can continue research and development work, as well as start the process of certification for its products. Further development of a MediLIS module feature which enables the integration of hospital systems with LIS class

by Fintek

The Podlaskie region focuses on agriculture of the future. An Agricultural Valley 4.0 is being created Editors currently, agriculture is facing a number of challenges mainly related to climate change, dwindling natural resources, demographic trends and increasing food consumption. these factors affect not only the volume of agricultural production and its profitability, but also the quality of food. According to the Podlaskie Voivodeship, which is at the heart of polish agriculture, the answer to these challenges can be found in multi-sectoral cooperation and new technologies. it is in this region that an innovative project called agricultural Valley 4.0 is being implemented.

The initiative is indented to encourage cooperation be-

intelligence (AI). Today’s farmer uses not only modern ma-

tween local agri-food and health sector players and – in

chines, but also devices - such as a smartphone or a com-

turm – increase implantations of high-tech solutions in the

puter with programs that use advanced algorithms - to

region. The project is one of the main priorities of the lo-

work. These devices provide information and recommen-

cal government as it is a crucial driver of future economic

dations that help make decisions or detect problems such

development in Podlaskie Voivodeship. But before we take

as pests or diseases of cultivated plants.

a closer look at the assumptions of Agricultural Valley 4.0, it is worth talking for a bit about modern agriculture.

Another characteristic of modern agriculture is its interdependence on other sectors of the economy. Agricultural production alone cannot meet the current food needs of

Smart farming or a few wordS about

the population. For starters, its products have to be pro-

modern agriculture

cessed by companies in the food sector. What is more, for

The introduction of high-tech machinery in agriculture

the customer to reach for the final product, a joint effort

means that farming today has nothing in common with the

must be made by producers and processors as well as the

idyllic scenes in Pieter Bruegel’s paintings. Technological

food industry. Marketing and logistics companies also have

progress has brought a real, global revolution in agriculture.

a role to play. In addition, current eco-trends and related

The breakthrough technologies should be considered as

consumer expectations make it essential for agri-food com-

groundbreaking today, as the introduction of the three-field

panies to find a balance on the economic, environmental

system was in the past. In recent years, so-called precision

and social scale.

farming has emerged, in which management is computer-assisted to help optimize potential utilization resources.

an agricultural Valley will appear on

Smart farming is also a huge step on the way to increasing

the map of poland

the quality and quantity of agricultural production. This

A hub of technological innovations called Agricultural

term refers to farm management using technologies such

Valley 4.0 is to be established in the Podlaskie Voivodeship.

as IoT (Internet of Things), robotics, drones, and artificial

Similar centers are already operating worldwide, leading to

by Fintek

the creation of places rich in breakthrough technologies. Ex-

determine the feasibility of the project using expert studies

amples include Silicon Valley in California, Helsinki-Uusimaa

commissioned by the European Commission and obtaining

in Finland, or the Israeli tech-system in Beer-Sheva. Asian

EU funding for research.

economic powerhouses have been creating centers of this type for years.

Agricultural Valley 4.0. will be based on cooperation between high-class scientific-research facilities of local uni-

The point of difference for Podlasie is supposed to be

versities and entrepreneurs looking for innovation. When

a focus on three areas: agriculture, food products and

combined with the support of local government authorities

health/wellbeing. Why? First, these industries are naturally

this initiative will lead to the successful transition of the

interrelated. Agriculture itself is an important segment of

Podlasie economy to industry 4.0 – making it more modern

the local economy in Podlasie. However, in conjunction with

and innovative. The project aims at accelerating economic

the food industry, it is a factor in the economic development

development in the entire Podlaskie Voivodeship. Other

of the entire region. Particularly important are ecological

important objectives include increasing awareness of the

food production and dairy: leaders in this segment includ-

region as well as improving the skills of its workers.

ing Mlekovita, Mlekpol, and Piątnica, were established in

Agricultural Valley 4.0. is also expected to be an answer

the Podlaskie Voivodeship. When it comes to including the

to the needs of local residents - creating jobs and contribut-

health sector in the concept of Agricultural Valley 4.0, its re-

ing to a sustainable and low-carbon economy. As a result of

lation to food production and agriculture is crucial. Namely,

long-term project implementation, business and technology

the quality of products consumed affects health. Improving

clusters are to be established in the region. An incubator

the conditions and process of agricultural production can

and accelerator program will also be tasked with support

increase the quality of the final product and thus positively

for local startups. There is also talk of setting up a special

impact health. However, let’s come back to the idea at the

fund to encourage early-stage investment in the companies

core of Agricultural Valley 4.0. A breakthrough step was to

that are part of these clusters.

by Fintek

Cooperation between sCienCe, business

the future of podlaskie powered

and government

by an innovative eCosystem

The involvement of private capital in research and de-

Currently, the Podlaskie Agricultural Valley is in the early

velopment work is a considerable challenge. Recognizing

stages of development. A project entitled “Preparation of

this problem, the authorities of the Podlaskie Voivodeship

the Institutional Foundation and Necessary Knowledge for

want to create strong structures within the Agricultural

an Innovative Regional Ecosystem - Agricultural Valley 4.0”

Valley 4.0 project that facilitate cooperation between busi-

is underway. It is co-financed by the European Union from

ness and science. The local government will eventually take

the European Regional Development Fund as part the Re-

a back seat, indicating areas where cooperation is needed.

gional Operational Program of the Podlaskie Voivodeship

Ultimatley, responsibility for Agricultural Valley 4.0 will fall

for 2014-2020. As part of the project, qualitative research

on the companies involved in each individual project. To

and diagnostic analyses on the innovative potential of the

better understand this concept, let’s go back for a moment

region are being conducted. The final result of the project

to nineteenth-century Japan. The authorities there focused

will be a comprehensive report that will provide the basis for

on top-down stimulation of industrial development based

the long-term implementation of the concept of Agricultural

on the innovations of that time. The race to catch the West

Valley 4.0.

technologically was initially fueled by public funds, but over time it was the private sector that took over the burden.

While building Agricultural Valley 4.0, the Podlaskie Voivodeship intends to use proven models. Study visits to

The uniqueness of Agricultural Valley 4.0. is hidden in its

similar innovation centers in the United States and Israel

structure. It is based on bringing together representatives

will soon take place. Their objective is not only to exchange

of local companies from the agri-food industry with the sci-

experiences, but also to establish links with the best inno-

entific community. This will lead to the creation of a center

vation ecosystems in the world. There is a rich agricultural

of industry knowledge focused on innovative implementa-

tradition in Poland, but to make a leap in terms of export

tion in the private sector. As a result, the number of local

volume and production quality, keeping up with modern

inventions and patents (that can potentially even appeal

tech advancements won’t be enough. We need to set the

to international players from the agriculture and food sec-

pace. With appropriate financial support Agricultural Valley

tor) is expected to increase. An important step down this

4.0 may become a knowledge hub and benchmark for all of

road will be taken soon, the Marshal’s Office of Podlaskie

Poland. While there is still a long way to go, the great deal of

Voivodeship intends to establish a working group bringing

early interest in the project and openness to cooperation on

together representatives from the world of science and

the part of business, science and local authorities are cer-

business. During a series of cyclical meetings they will plan

tainly good signs for the future.

specific activities and begin to give shape to the initiative.

by Fintek

On May 24-25, 2022, for the very first

Fintek.pl and the City of Lodz organize Fintech & E-commerce Linking Days 2022

time, a very important event will be organized, one focused on the rapidly growing fintech and e-commerce sectors as well as their day-to-day cooperation. Fintech & E-commerce Linking Days is a two-day conference which will concentrate on broadly understood tech breakthroughs as well as well as industry trends and challenges related to sales, customer service, payments, and supply chains. The event will be held in an iconic

Rafał Tomaszewski

location in the heart of Lodz. Why did we choose this city?

The city of Łódź, which has been using the slogan “A city

solutions to specific challenges and problems related to func-

open for business” for several years, is a title part of this

tioning in their new world. First on the schedule however is

event which is being organized by the tech site Fintek.pl.

an underwater dinner, which will take place on 23.05.2022

Fintech & E-commerce Linking Days 2022 will take place in

at the newly opened Orientarium at the Łódź Zoo.

three separate locations around the city – examples of the “new” Łódź in action. Monopolis, which will host the conference portion of the

Welcome to Fintech & e-commerce linking days 2022

event, is a unique industrial complex: part office, part en-

- This is a multi-dimensional event. The business-related

tertainment hub and part cultural center. EC1 on the other

aspect – which targets enthusiasts of the latest technolo-

hand is an educational complex located on the premises of

gies and e-commerce industry, will also include discussions

the historic Łódź Heat Power Stations. As part of the event,

on how technology-based businesses can and should coop-

it will host a Mini Startup Arena (organized for high school

erate with government institutions on a local and national

students from Lodz and other cities in the area). It will also

level. The fact that this kind of mutually beneficial cooper-

be the setting for two additional activities being organized

ation is possible is best illustrated by the city of Łódź itself.

because of recent happenings in Ukraine. On May 24, a

The local government here has been actively supporting the

Startup Arena for Ukrainian startups will be organized.

tech and e-commerce industries for several years. This co-

The following day will bring a hackathon for women, dur-

operation includes but isn’t limited to organizing advanced

ing which, with the help of technology, they will search for

acceleration programs for freshly established, local tech

by Fintek

companies. As far as content presented during the event –

residents a warm welcome from the business community.

we’ll have several expo stands and meeting zones, including

That’s why, together with Fintek.pl, we created a Startup

a VIP area – says Magdalena Marciniak, Managing Director

Arena designed specifically for Ukrainian companies and

of Fintek.pl and KLANG! Media.

a special hackathon centered around using technology to

- As Poland’s largest site focused on innovative sectors

solve the everyday problems of people from this new com-

of the economy, like FinTech, we see increasing synergy

munity – says Adam Brzostowski, Director of Business De-

between new tech and e-commerce. Our event is intended

velopment, and the International Relations Bureau in the

as a platform for official but behind-the-scenes discussions

City of Łódź.

on possibilities related to future cooperation. We’ve also

The event will also feature several keynote presentations

organized it in a business-friendly location and are show-

by representatives of the city of Łódź, who will talk about

casing Łódź as proactive hub for supporting projects from

the important role new technologies play in the develop-

both industries. That is another important objective of this

ment of urban infrastructure as well as the process of cre-

event - adds Rafał Tomaszewski, Editor-in-Chief of Fintek.pl.

ating a fintech-friendly ecosystem, that has already resulted

- Łódź is a city that’s incredibly welcoming to young people – one that values their innovative, fresh ideas. We also

in cooperation between several companies. Aside from keynotes, debates, and discussions this event

place a huge emphasis on the educational aspect of the con- – which is scheduled for mid-May – has a few special acference – best exemplified by the mini startup arena organ-

escents – there’s the dinner at the Orientarium on May 23

ized for high school students. Aside from promoting their

(in the iconic ZOO).

initiatives – its main purpose is to give these future entre-

If you are now convinced that Fintech & E-commerce

preneurs a taste of the real-world business experience. And

Linking Days is an event you can’t miss, we’ll see you soon.

let’s not forget the importance of giving the city’s newest

More information available at linkingdays.pl.

by Fintek

How to choose the right technology partner to successfully bring innovations to market? Arkadiusz Jadczak this will probably going to sound cliché, but any external team that is expected to bring great value into a company’s innovative work needs to understand exactly what that innovation is about. they should also believe in it as much as the sponsors, investors, creators, and managers leading the wat. this means that even the best external specialists cannot contribute to creating something unique that needed and brings value to users as well as the company itself - if they do not identify with the same values and principles as the company they are working for.

How do you recognize this in your team? Where is the best place to start? First, it’s a good idea to discuss this thoroughly with your potential partner. To what extent does he or she want to learn about the problem, the challenges, and the findings to date? Is he interested in why and for whom we are building our product? What conclusions does he or she have in mind at the outset? If the external team doesn’t answer these questions, claims that the new product does not interest them at all (believe me, there kinds of things still really happen!) or focus only on technology – these are bad signs. They mean you’ve chosen the wrong people to work with. Work culture is important People who are supposed to work with us on something innovative (I’m not talking about “innovative” UX, but about a new product or service that redefines the market or shakes it up, i.e. breakthrough innovations) must, in a sense, live this challenge from the very first moment. And it’s not just about the initial sparkle in the eyes of those who are about to produce it. It is about a certain proactivity and motivation that’s visible to the naked eye. It is about an intensive analytical work starting at the stage putting an offer together, working well together and huge need for every kind of knowledge: from assumptions and constructive application proposals to work methodologies, tools and techniques.

people who are supposed to work with us on something innovative must, in a sense, live this challenge from the very first moment. and it’s not just about the initial sparkle in the eyes of those who are about to produce it.

by Fintek

The right mix of these aspects is extremely important for

was the greatest programming adventure ever. To sum up:

any team waiting for tasks, regardless of the personal pref-

a technology partner must give, let’s say, 10%. That is, what

erences of its members, etc. From a technology partner, it

will be created with their participation – but this 10% should

is also worth expecting hints on how to organize work in the

be done at 110%. And I’m not about the scope, but about

continuous “numbers game” that should accompany the cre-

the quality and value of what is created.

ation of innovations. And tips on where to create a repository

At the selection stage it is worth asking the partner him-

of knowledge gained during the projects as well as how to

self, and then even his former/current clients for examples

bring this the innovation to life in the production process

of such innovative work or breakthrough implementations.

itself. As you can see - a good technology partner does a lot

Why? Firstly, to confirm it, and secondly - to find out what the

more than provide the technology itself.

external team really contributed. what was its merit, added

This spirit of teamwork in research, development, R&D, production should be based on the out that every effort

value, idea or concept that would not have been created if it was not for this partner?

generates value toward a mutual objective that team is expected to achieve. When we say value, we directly imply that

proxy product oWner - is it necessary?

a given product or service will should innovative. But the

On the part of the partner, i.e. the technology provider,

principle of teamwork should hold true for every project.

a Product Owner who has knowledge regarding the indus-

It is just that if an innovation is to be created - we need the

try in which the innovation is being implemented and knows

best, the most motivated people who can bring a tremen-

the impact it could potential have. It’s not required, but this

dous mental potential to the work, into the creative process.

kind of support for the Product Owner - in the form of not

It should also be considered that the products or services

so much a counterpart, but a different perspective from the

are created in conditions of high uncertainty. The owner of

side of the supplier - can be very useful when the product

the product makes hypotheses - some of them will not be

owner is short on energy, ideas or time.

confirmed, and some ideas will have to be scrapped in the

There are also drawbacks to this approach. Two “own-

next phase of development, even if their implementation

ers” of the product may challenge each other too much or argue about the vision of the product. However, this does

it is just that if an innovation is to be created - we need the best, the most motivated people who can bring a tremendous mental potential to the work, into the creative process.

not change the fact that it is better when separate visions clash or even just confront each other at this stage than if – despite have access to this person’s insights – the original Product Owner doesn’t listen to them and instead does what he wants. A “complementary” Product Owner can offer an additional perspective, skills and even an extra set of hands. That’s why I strongly urge you to take advantage of this option and ask your potential partner about the possibility of “hiring” a Proxy Product Owner as well. I can hear the agile purists telling me that there can only be real one Product Owner. And I absolutely agree - in a Product Owner + external team with Proxy Product Owner arrangement the Product Owner is still the one person who ultimately makes decisions chooses the direction of development and takes full responsibility for it. Provided, of course, that he has some autonomy. A Proxy Product Owner is only supposed to help, support, and when necessary (for the good of the product) be a devil’s advocate. A Proxy Product Owner can also

by Fintek

contribute a lot when it comes to drawing the team’s atten-

Whether it’s at the stage of product discovery, development

tion to best practices, competitors’ services or interesting

of the finished product, or implementing changes following

but alternative ways to solve the same problem on different

a quick change of perspective – it’s good to have access to

companies or on different markets – each of these things to

specialists - researchers, analysts, graphic designers, data

develop a sustainable completive advantage. That person

engineers, copywriters, SEO specialists, and even linguists

can also help better define the exact needs we want to sat-

or psychologists. It is often assumed that all it takes to make

isfy among our users. If he/she is experienced – let’s take

a good, innovative product is a few programmers proficient

advantage of what that person knows and treat them like

in a particular technology. “Let us handle the - give us

an expert on our team. Let’s call it: an industry expert. Such

a team of programmers” – is something that’s said pretty

a person can successfully support the vision of us, in this

often in conversations with partners.

case the client. He can take his product to a higher level.

It also worth remember that this potential future partner

If we are developing an innovative insurance comparison

may need access to other resources. That’s why it’s impor-

engine and our partner has a someone on their team who

tant to ask at an early stage whether he is open to broader

worked in insurance business - that can be very interesting

cooperation and what the possibilities are in this respect.

asset and we should consider involving someone like that

Knowing this at the beginning – having it in the back of our

in our work. He may have a different view on, for example,

heads in case – will not only give us more peace of mind but

the issue of comparing offers of different insurers according

also make the partner feel even more responsible for our

to the price, but no one will help us to develop a different

product or service, which will only work to the advantage

approach to comparing insurance products better than he

for both parties.

will – simply because he has more knowledge about the

Human skills are also important when it come to the most

specifics of constructing products in the insurance indus-

important services provided by a partner, i.e. the program-

try. If that Proxy Product Owner on our project – together

ming team. It is important that there are several people that

with Original Product Owner - he could be the second half

have a similar amount of experience and knowledge about

of a “dream team”. Provided, of course, the external expert

the project, so that they can easily fill in for one another. So

believes approach to a comparison search engine and get

lets make sure to check home many specialists of a certain

actively involved in bringing it to life.

kind does our chosen supplier and future potential partner have. Are these people ready to step in at a moment’s notice

EvErything starts with a support systEm

or on the contrary - unavailable, because they are working

The partner’s support system and ability to cooperate

on another strategic client / project for the next two years?

with other entities (companies, institutions) or freelanc-

It’s almost always possible to workout a backup plan with

ers to improve the product is also extremely important.

your partner, the most important thing is knowing where

by Fintek

you stand and who can be counted on – no surprises. The

From the perspective of a technology partner, I can

market can be so tough sometimes that – even in the case

honestly say that there is nothing more satisfying than the

of working on a super innovative project – you might not

success of a product on which we have worked together.

be able to keep him in the company. That’s not to say you

And if this product or service is recognized by the market

should work only with large companies, on the contrary.

as an innovation - this satisfaction is priceless. But for some-

That said, the number of skilled and available programmers

thing to become a breakthrough – you’ll need a lot of work

specializing in the technology we/the partner choose is

by talented people, and money for R&D and production of

important.

MVP as well as a great understanding how your solution can meet consumer needs and - of course - an effective

partnEr, not suppliEr

technology partner. At Binar Apps we try to be exactly that.

Finally, something that might be obvious to some, but I think is worth emphasizing - a company with which we choose to create and then develop something unique, groundbreaking - over years, not months – should be treated as a partner, not a supplier. And it should treat us likewise understanding our current situation and possibilities. Often in my career I have seen a supplier chosen according to the lowest price criteria – only to later find out that the company got tired of this supplier, and finally - after a lot of frustration - parted ways. It’s like personal life - if we our partner according to a single criteria, it might not work out. Unfortunately, this mistake is made with many bids - price works wonders at the RFP stage – with no regard for other types of value that a partner can bring. Our technology partner should help us from the start – I’m not talking about offering free service but making a big commitment to our specific product – showing that they un-

arkadiusz Jadczak

derstand our idea and business ambitions and want to be part its future success. Trust is a fundamental part of a re-

Business Development Manager at BinarApps.

lationship with any partner in our personal life, and a tech-

Has been working in the financial industry for

nology partner is no different. This trust, but also interest

over 20 years (specializing in: transaction systems,

and commitment will be important over the coming years,

online and mobile banking, marketing and online

at various (sometimes turbulent) stages of product devel-

sales). Arkadiusz has held a managerial position at

opment. After the excitement of the MVP, which I would

mBank and been an active participant in the imple-

compare to the first year of a relationship ;-), there will come

mentation of banking systems in Poland, Russia,

a time when work, changes (sometimes very drastic ones),

Ukraine, Czech Republic, Lithuania, Romania and

maintenance, support, corrections or improvements are

Belarus. From 2014 through 2016 he worked as

needed. Therefore, if we decide to cooperate with a tech-

the Product Owner who co-created OmniBank’s

nology partner – both sides must be aware of what they

next-generation multi-channel digital banking plat-

are getting themselves into. Open communication of needs

form. His experience also includes experience in

and expectations at an early stage by the company that is

mobile payments, debt-based crowdfunding, smart

looking for a technology partner makes it easier to work

contracts for loan agreements and salary finance.

together, choose the right people for the job and ultimately succeed, TOGETHER.

by Fintek

Where is the hidden potential of the Polish tech community? Editors

At last year’s Polish Tech Day conference Kingsley Aikins said that “networking is about sharing not taking”. The director of The Networking Institute went on to explain that it’s not about achieving personal goals, like finding a job, but about passing on knowledge and sharing contacts. “The more you give to others, the more will come back to you.”

Kingsley Aikins, is a networking expert who works with

The activities of the PLUGin Foundation revolve around

diasporas from around the world. In his view, networking is

three themes, called Streams: Inspire, Share and Connect.

the invisible and often underestimated power of migrants

It is as part of this last theme that the organization’s flag-

who, as global citizens, unwittingly become ambassadors

ship event is organized – the Polish Tech Day conference. It

for their countries, their businesses and their technologies.

dates back to 2014 and is the foundation’s largest project,

It is this need to act together, to share knowledge and ex-

bringing together representatives of the Polish diaspora

perience, and to motivate each other that brought together

who work with the new technologies and innovation sector.

people scattered around the world and resulted in the cre-

Its objective is to increase the flow of knowledge, skills and

ation of the PLUGin Foundation.

social capital between participants. The conference, held

PLUGin is a non-profit organization run by volunteers

in English, is addressed not only to Poles scattered around

from all over the world – from Warsaw, London, Paris and

the world, but also to people with Polish roots or in any way

Valencia to Los Angeles and New York. During the seven

identifying themselves with Poland, regardless of their cur-

years of its activity, the Foundation has brought together

rent residence and citizenship status. That includes expats,

more than 100 members: experts in IT, media, law, archi-

immigrants and those who returned, as well as people con-

tecture, business, investment and green technologies. They

nected to the Polish tech industry in any other way.

work in different sectors, come from different locations, but

The first five editions were held at Google’s London head-

what unites them is innovation (understood as broadly as

quarters before being moved into hybrid mode. Through

possible) and that they have each lived abroad at some point

this event, the foundation connects Poles around the world

of their lives and – as such – have been members of the Pol-

and creates a community that is able to support each other

ish diaspora.

in a constructive way: thanks to sharing contacts and pro-

Each member brings his or her unique professional expe-

fessional experiences. The organization’s mission could not

rience and with it the knowledge of the specifics of working

be achieved at this scale without the support of numer-

in a given country. Thanks to this they are able to conduct

ous partners and sponsors, including Google for Startups,

unique activities both globally – by organizing industry

Bank Gospodarstwa Krajowego, Polish Investment and

events in English or recording podcasts – and locally – by

Trade Agency and numerous embassies. That’s not all! Pol-

supporting initiatives such as meetings and networking ses-

ish Tech Day is also a chance to showcase Polish companies

sions, acceleration programs as well as training seminars for

operating on foreign markets. The event also supports an

local companies and institutions. So far they have organized

entrepreneurial image of Poles living abroad. The most im-

about 50 such events.

portant points on the conference agenda are related to the

by Fintek

foundation’s main projects–Pitch To London (PTL) compe-

success on the global stage – either individually or as part of

tition and Polish Innovation Ambassadors (API) award gala.

some organization they represent – in the last uear.

The Pitch To London competition for Polish startups

Previous API award winners include Stefan Batory

gives companies a chance to present themselves in front

(Booksy), Rafał Brzoska (InPost), Marta Krupińska (Google

of British investment funds and startup accelerators. More

for Startups London), Tomek Bagiński (producer of “The

than fifty startups have already appeared on the stage

Witcher” series), or Marcin Iwiński and Michał Kiciński

at this competition, including Yosh.AI, Symmetrical.AI or

(creators of CD Project). How is the winner selected? Every

inSTREAMLY. Contacts with investors are plentful. Many

year, on the basis of open applications, the PLUGin Founda-

participants started further talks right after the competi-

tion selects ten candidates, and the jury (representatives of

tion ended. The organizers are particularly proud of tPack-

the competition partners and winners of the previous two

help, the 2017 winner, which received funding of 2 million

editions) in a secret ballot selects the final three from this

euros from SpeedInvest, one of the jurors. Since then,

group, which are then announced during the gala. In 2021,

Packhelp has become one of the largest Polish startups, the

the API formula was expanded, adding a distinction in the

company managed to raise an additional 40 million euros

category of rising stars of the younger generation–API Ris-

last year. On another note – one of the jurors of the 2018

ing Star. The first recipient was 18-year-old Sophia Kierner

competition which we organized, Piotr Pisarz, became a co-

of the Girls Future Ready Foundation. This award is pre-

founder of Uncapped, – a company that has become one of

sented in partnership with Incredible Inspirations under the

the fastest growing startups in Europe.

patronage of Sebastian Kulczyk.

Meanwhile, the icing on the cake at the conference

Past seven editions of the conference, including accom-

comes in the form of the award ceremony for the Ambas-

panying events, have attracted nearly two thousand attend-

sadors of Polish Innovation (API). The nominees are people

ees and over two hundred speakers, while working with one

whose character, commitment, and above all, the heart they

hundred partners. This year’s edition will take place in June

put into work on the development of the Polish brand on

and, as in previous years, participation will be completely

the international arena, deserve special recognition. Among

free and the experience, as always, unique. Everyone who

the nominees are scientists, engineers, managers and entre-

shares the approach of the foundation and/or wants to help

preneurs who deal with innovation and new technologies

organize the event can register here: weareplug.in. More

and – through their business, media or social activity – are

information and early bird registration is available at www.

positively impacting the international image of Poland. The

polishtechday.com. The organizers cordially invite all who

other important criteria for selection is the fact that a per-

wish to broaden their horizons and network at PTD22.

son nominated for the award has to achieve some form of

by Fintek

Flutter - the future of mobile business applications An interview with Jerzy Kufel, CEO of iteo which built one of the first and largest Flutter depts in Poland

Rafał Tomaszewski: Let’s start from the very beginning of your journey with Flutter. When have you first seen its potential and decided to build a new department in your company? Jerzy Kufel: We launched our mobile departments in 2013, hiring iOS and Android teams and started developing the first mobile apps for our clients. Two years later the first hybrid technology, React Native, entered the market. As we didn’t make use of it straight away, we wanted to be abreast with what comes next. And so, we observed Flutter’s alpha version release in May 2017, keeping track of its further development and started thinking about merging it into our business after the official launch of version 1.0. It was said to be the new king of hybrids, thus, as a techdriven and novelty-craving company, we decided to give it a go, engaging our current developers and recruiting new members of the team. In early 2019, we started to work on our first projects, and releasing them with success assured us that the choice was right. Today, we have 22 Flutter devs onboard and still growing. R.T.: So, how much has Flutter grown ever since? J.K.: As we look at the data from the end of 2021, the number of Flutter apps in Google Play leaped from 50 to 90k in only a year, and the technology is used by more than 42% of the developers worldwide. It shows that Flutter managed to outgrew its fiercest competitor, React Native, which now holds about 38% of the market. Although the framework still has some minor drawbacks (i.e. lacks some native-like relishes, especially in iOS), it evolves pretty quickly and has more and more to offer, being a reliable and stable choice for larger business applications. Its strong suits are: modern user interface feeling, reduced time-to-market, undoubtful flexibility, and high-power maintenance R.T.: Do you know any big player companies that made good use of Flutter? J.K.: First of all, as the company that created Flutter is Google, it used the framework to build its highly performative apps like Google Ads or Google Pay. Apart from that, Flut-

by Fintek

ter’s been used by the largest retail platforms like Alibaba Group, eBay, and Groupon, as well as huge automotive players like BMW and Toyota. R.T.: What Flutter projects can you distinguish in your department’s work? J.K.: Our Flutter team has worked for varied industries including ecommerce, IoT, sports, personal development, retail, healthcare, or HoReCa. We had an opportunity to prepare a grocery delivery app for the most beloved shipment solution in Poland (InPost Fresh), a smart skiing system corresponding with wearable sensors and a mobile app (SKEO), a server app for one of the largest food store owners in Central Europe (IPH), and other equally fascinating, high-quality projects. R.T.: And lastly, what’s the future of Flutter? J.K.: The great thing is that Flutter constantly evolves. Until recently, its functionality for desktop apps was quite limited. Now, it has a stable support for MacOS, Windows, and Linux, making it simpler to build high-performance business applications. We’re happy to see it grow and ready to unwind its full potential. R.T.: Thank you for the interview. J.K.: Thank you.

by Fintek

What was 2021 like for the lending industry? And an Outlook for 2022 Monika Lipiec Each year presents new challenges for those operating in and around the lending industry. Following a poor 2020, as the forecasts predicted, brought an increase in value of sales. Loan providers had to adjust their products to comply with current legislative changes, make better use of digital solutions and–above all – learn to better understand the needs of customers. In 2022, we’ll see how many companies will survive the recently announced Consumer Credit Act.

In 2020, the lending market experienced a slump caused by the pandemic. A 33% y/y drop in the value of financing granted by lending companies to PLN 4.8 billion was recorded that year, according to BIK data. Uncertainty about the future of the labor market as a result of the disappearance of government aid in the form of COVID-19 “shields” as well as legal-imposed limits on non-interest-related costs were the main factors that limited revenue opportunities for lenders. According to the Financial Market Development Foundation, nearly a quarter of lending companies on the market disappeared in 2020. Although the non-interest cost limit was in effect until the end of June 2021, the past year was marked not only by a slowdown in the decline in loan sales, but by increases that exceeded pre-pandemic values. The latest BIK data shows that in the whole of 2021 the number of loans granted amounted to 2,941.7 thousand and was 47.8% higher than in 2020. In turn, the value of financing provided by loan companies in 2021 reached more than PLN 7.2 billion, an amount higher by 56.2% versus 2020 and 4.8% higher than to 2019. Last year saw an increased demand for financing option from outside the banking industry. This substantial rebound in the market is also the result actions undertaken by the entire lending industry, which has adapted to business in a COVID-19 marketplace. How did Loando Group, a specialized financial intermediary with 6 member entities including

Last year saw an increased demand for financing option from outside the banking industry. this substantial rebound in the market is also the result actions undertaken by the entire lending industry, which has adapted to business in a CovId-19 marketplace.

by Fintek

the leading online loan broker and one of the largest affiliate

customers who are now more frequently interested in “pre-

networks in Poland, respond to these new challenges?

mium product” – they are looking for larger amounts and longer repayment periods. Interest in products other than

InnovAtIvE soLutIons And pArtnErshIps

loans – such as personal accounts or consolidation loans is

wIth bAnks

also growing–comments Tymon Zastrzeżyński, Member of

In 2021, in addition to developing key projects related

the Management Board at Loando Group.

to non-bank financing, the Loando Group focused on ex-

Loando is a developing organization, last year the Group

panding its cooperation with banks. This not only made it

expanded its IT team, call center and administration depart-

possible to not only offer new products to 1.5 million cus-

ment. Dominik Ciula also replaced Marcin Sikora as Chief

tomers, but also diversify and secure the company’s reve-

Sales Officer. Dominik previously worked with Aasa Poland.

nue stream in the difficult time that was the pandemic. Last

Grzegorz Dziencioł also joined the team, assuming the posi-

year, Kasa Stefczyka became one of the Group’s partners.

tion of Chief Marketing Technology Officer. In Loando, he is

Loando currently cooperates with all the key players in the

responsible for technology projects related focused on the

Polish banking sector including: PKO Bank Polski, Pekao

development of sales through big data, AI and automation

S.A., Santander Bank Polska, BNP Paribas, mBank or Bank

as well as marketing and sales processes.

Millennium.

But the most important event for Loando took place

– Last year we put a lot of effort into improving tech solu-

towards the end of the year. We are talking about the ac-

tions like the mufti-form or offer aggregator. As a result,

quisition of 100% of the Group’s shares by the Swedish

we are practically the only company on the market that of-

Clar Group, which made the purchase through its com-

fers loans over the phone without the ”paperwork” – only

pany – Akredo. The former owners of Loando, Tymon

a smartphone is required to fill out the application, sign

Zastrzeżyński and Maciej Suwik, remain on the company’s

necessary consent forms and receive approval. In 2021

board and will support the new investor in further. The ac-

we also managed to add additional banking products to

quisition of Loando by Clar Group is expected to enable it to

our portfolio. This was in response to the demands of our

continue dynamic growth fueled by expansion into foreign markets in the CEE region.

but the most important event for Loando took place towards the end of the year. we are talking about the acquisition of 100% of the Group’s shares by the swedish Clar Group

LoAndo Group’s mAIn pLAns For 2022 New solutions will let Loando stay one step ahead of the competition. The group, with the support of its new investor, will focus on a hybrid approach – wanting to combine offline and online loan brokerage service. A groundbreaking tool to help achieve this is the mobile application for “live” field agents. – The pandemic and the lockdowns associated with it have definitely not made things easy for brick-and-mortar loan sales. Many intermediaries have disappeared from the market for good and their customers are forced to look for alternatives. We want to give consumers a choice, on the one hand give them access to a fully digital service including a comparison engine, a mobile app and affiliate network. On the other hand, we want to offer human not machine support, the kind well-know from traditional credit office. That’s where our consultants in the call center, as well as agents who will use our new application come in – highlights Tymon Zastrzeżyński, Member of the Board at Loando Group.

by Fintek

The company recognizes the changes taking place in

from the customer, must verify the data presented therein

the consumer finance market on which it focuses. These

using, for example, business information bureaus. This re-

include the emergence of new products, rising consumer

quirement will in practice cause complications not only for

expectations, and an increase in the share of challenger

lending institutions, but FinTech offering BNPL services in

banks. That’s why, in 2022, the Loando Group is focused on

the form of consumer loans.

further strengthening of partnerships. We can expect that

A study conducted in March 2022 by CRIF shows that

FinTechs among the institutions cooperating with Loando

185,000 people per month will be denied access to credit

in the future. In addition, the Group has announced that

once the legislation comes into force. Moreover, those who

a completely new version of its websites is coming this year

receive financing will have to accept smaller amounts and

– pozyczkaportal.pl and loando.pl.

a much shorter repayment period. However, the BIK data shows that compared to last year,

A promising mArket... but with chAllenges

the sales dynamics are growing, despite the concerns of

on the horizon

the entire sector. In March 2022, loan companies granted

The barriers that Loando will face this year will be mainly

more than 287 thousand new loans for a total value of PLN

due to the situation in the lending market. This in turn will

700 million. The average value of a new non-bank loan was

depend, among other things, on whether the forecasts in-

11.3% higher than the average value last year. Although it

dicating a decrease in the availability of loans will come true.

must be considered that the poor performance last year

This phenomenon may be influenced by further increases in

was heavily influenced by the COVID-19 pandemic.

interest rates, as well as the adoption of the so-called “AntiLoan-Shark Act”, which is to introduce, among others, new strict limits on interest and non-interest-related costs. Conversely, a factor that may drive the loan market in 2022 is the rising cost of living combinedrelatively low unemployment. Rising prices mean that consumers may have to turn to external financing. According to the survey “Situation on the Consumer Finance market” (ZPF-IRG Barometer), 1/5 of respondents are willing to finance current expenses (food, clothing, other daily living costs) with loans. About 20.9% of respondents declare their willingness to use this kind of a solution, compared to 17.9% a year ago. However, there is no denying that some of the main factors that affect the development of the entire FinTech market, including LendTech, will be the anti-liquidity law

monika lipiec

and the war in Ukraine. The invasion carried out by Russia is affecting the economies of all European countries, which

Editor Fintek.pl

in turn also affects the financial industry. What about the “Anti-Loan-Shark Act”? Following the

A graduate of the Faculty of Political Science and

first reading, the government draft was sent for work in

Journalism at UMCS in Lublin, where she majored

committees. Industry organizations are unanimous–this

in International Studies. From 2017 to 2021 she

will be a huge blow to the legally operating loan industry.

worked on managing various projects financed from

That’s not only because of limits on non-interest costs,

EU Funds. She spends her free time listening to old

but also requirement related to detailed verification of

songs and playing scrabble. A fan of Premier League

creditworthiness.

football, Zdzislaw Beksinski paintings and wordplay.

According to the proposed amendments, the lender, in addition to collecting the statement of income and expenses