A year after announcing its plan, the European Commission has promised to accelerate the implementation of the capital markets union project. It is more and more clear that it has no alternative and Brexit may only foster this process.
Europe needs productivity growth, said Hans Peter Lankes, Managing Director for corporate strategy at the European Bank for Reconstruction and Development.
Worldwide over 80 per cent of people have a mobile phone. At the same time, only a half of them use financial services. There is an opportunity to fill this gap and resolve the problem of financial exclusion which will also translate into fast economic growth.
Digitization is the key to maintaining banks’ profitability in the coming years, and Poland is the CEE leader.
A decrease in profitability and an increase in costs caused, among others, by the banking tax mean that the Polish banks are speeding up the restructuring of their networks and employment.
Most of banks are looking for their place in the digital world and are lacking a digital strategy, shows the study "How ready are European banks for a digital world", conducted by the International Data Corporation and SAP.
The financial sector is trying to reach the customer in all possible ways but more channels mean higher risk of cyberattack, warns Przemysław Skowron from White Cat Security
Central banks have been entrusted with the task of developing and implementing measures for limiting systemic risk. They should cope with this task but if they don’t succeed, central banks are risking their credibility.
After the Brexit decision, Indonesia and Malaysia began taking over UK’s sukuk (“sharia compliant" bonds) investors. But they are still choosing Luxembourg and Ireland instead of traditional Islamic finance markets.
There are very few innovative projects directed towards large companies, and hardly any in the offer of the Polish FinTechs.