Poland’s at the Heart of fintech sandbox action
The Polish Financial Supervision Authority has appointed the Heart, the corporate centre for digital ventures, as one of the operators of the regulatory sandbox for companies developing new technologies from the financial sector.
The Heart Sandbox will support selected companies aiming to start operations in the Polish financial market.
The Heart will be responsible for managing the solution testing process and creating appropriate conditions for fintechs to participate in the programme.
It will also provide help scaling the business on other European markets, in terms of access to customers and financing, and appropriate licences.
The test infrastructure will be provided by Mastercard. Other members of the consortium are law firm Bird & Bird and the consulting company EY.
The regulatory sandbox is the first project of this type in Poland. Similar initiatives were created in Singapore, the UK, Switzerland or Australia.
Apart from the Heart Sandbox, there will be other regulatory sandboxes operated by PKO Bank Polski, Huge Thing, Alior Bank, BusinessCaddy, Pekao, Citi Handlowy Bank and BGŻ BNP Paribas Bank.