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​Polish panel at SIBOS Boston 2014

 

"Polish financial sector – leading edge of global innovation" was the title of panel discussion taking place on 30 September during this year’s SIBOS conference. The session presented Poland’s achievements in the financial sector – a branch of the Polish economy which was built up almost from nothing in the 25 years of transformation. During this period phenomenal progress has been made that enabled the Polish financial sector to achieve a significant position in comparison with other European and global markets and become an undisputed leader in certain innovative arrangements, notably in the area of retail payment systems.
 
The panel discussion was a great success and attracted a large audience. The speakers explained how Poland’s success was achieved and discussed the reasons why the Polish financial market, being innovative, compliant with internationally recognised standards and secure, is also a safe location for investments.
 
The Polish session included the following speakers:
Piotr Wiesiołek, First Deputy President, Narodowy Bank Polski (NBP)
Iwona Sroka, President & CEO, Central Securities Depository of Poland (KDPW) and KDPW_CCP
Mieczysław Groszek, Vice President, Polish Bank Association
Michał Szymański, Vice President, Krajowa Izba Rozliczeniowa S.A.
Adam Tochmański, Director of Payment System Department, Narodowy Bank Polski (NBP)
Michał Panowicz, Director of Marketing and Business Department, mBank SA
 
Moderator of the discussion was Chris Skinner, Author of Digital Bank, The Financial Services Club.
 
Piotr Wiesołek, First Deputy President at Narodowy Bank Polski (NBP), made the opening remarks and presented a brief, but comprehensive overview of the Polish financial market.
 
Iwona Sroka, President & CEO of KDPW and KDPW_CCP, presented how the KDPW Group created the Central Europe's leading clearing and settlement infrastructure. Thanks to services offered in KDPW (CSD) and KDPW_CCP the quality and safety of the Polish financial market and its attractiveness to the international investors were strongly improved. KDPW Group offers service of authorized CCP, registered Trade Repository service, Global Numbering Agency (ISIN, LEI) and is also preparing for CSD authorization.
 
Mieczysław Groszek from the Polish Bank Association presented the role of the banking sector and the meaning of the relevant regulation and supervision in the transformation of the Polish financial system from the centrally planned economy to an innovative and competitive market economy.The role of Central Bank as a co-founder and an important catalyst for the safe and efficient Polish payment system was a topic of Adam Tochmański presentation.
 
Michał Szymański, Vice President of Krajowa Izba Rozliczeniowa, was talking about modern and innovative settlement services in the field of retail payments as an appropriate answer of payments system infrastructure to the business needs of banks and their customers. Representative from the Polish banking sector Michał Panowicz, Director of Marketing and Business Department at mBank SA, focused on Polish banks as leading financial system participants, who have coped in the process of transformation with the challenges posed to them, and are now suppliers of modern and competitive services to their clients.
 
„Warsaw is open for business!” – it is a title of article published in SIBOS ISSUES regarding to the panel discussion on development of the polish financial market in period of last 25 years. In the article KDPW and KDPW_CCP CEO Iwona Sroka presents the achievements of Polish post-trade infrastructure:  In 2011, KDPW separated its clearing house from its central securities depository to create a more robust distinction between its two lines of business. KDPW now has 65 participants, while KDPW_CCP has 38. In April this year, KDPW_CCP became the third clearing house in the European Union to be authorised to clear OTC derivatives under the European Market Infrastructure Regulation. “Our services are provided for the most dynamic economy in the region but we are interested in attracting more market participants, not only domestic but also foreign, to build economic scale. Our main objective is the safety and stability of the financial system”, Iwona Sroka said.
 
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Last modified: 23-10-2014 Go up