Harnessing Digital Transformation
to reinvent Future Banking

Source: thebanker.com

Acoording to the Banker, PKO Bank Polski is the largest Polish bank in terms of assets, equity and the number of its customers, which exceeds 10 million. In order to grow organically and retain their clients, the bank is increasingly using modern technologies. Innovation and digital transformation have already become part of the organisation’s DNA, contributing to improved efficiency and generating even more profits. Digital transformation has become the reality of the changes taking place inside the bank, as well as in its relations with clients. This has resulted in a doubling of the bank’s balance sheet total, which currently exceeds PLN329 billion, and is almost one-third greater than the assets of the next-largest bank in Poland.

“PKO Bank Polski is becoming a technology company with a banking license,” says Zbigniew Jagiello, president of the bank’s management board, and adds that “it is natural that we also want to cooperate with technology giants such as Google, Microsoft, Amazon, Facebook, IBM and Apple. We observe the market and analyse available strategies for expanding our product base. We want PKO Bank Polski customers to always be able to use products that meet their needs. They will not then have to look for alternative solutions outside the bank.”

At present, the bank has over 3 million active app users.To acquire the most valuable ideas emerging from outside the organisation and adapt them to its needs, the bank created an original platform to support innovation and cooperation with startups, called ‘Let’s Fintech with PKO Bank Polski’ as well as setting up a venture capital fund to invest in the most interesting and most promising financial start-ups.

PKO Bank Polski’s digital appetite does not end with purely financial services. In cooperation with external technological partners,it is building the ‘Polish Domestic Cloud’. By using domestic cloud services, clients are assured that the migration of business to the cloud will be in line with the requirements of local market regulators. Cloud services will be implemented within Polish jurisdictions, considering the requirements of individual sectors of the economy.