Mariusz Sienkiewicz, Director of the Regulated Data Analysis Centre at the UKNF, spoke on the European Financial Congress panel titled ‘Data is the new oil: protecting citizens, developing businesses, driving the economy’.

During the debate, experts from the financial, technological and regulatory sectors discussed the role of data as a key asset in supporting the development of economy and innovation. At the heart of the discussion were topics related to the creation, flow and use of data, in both the private and public sector.

Participants emphasised the importance of cross-sectoral exchange of data, which paves the way for better risk management, more effective supervision and more tailored financial services, while observing appropriate quality and security standards. In this context, the special role of the data derived from public registers and the European Single Access Point (ESAP) project was recognised.

Another important point of the debate was the growing importance of artificial intelligence in data processing and decision-making. Experts agreed that these technologies required transparent algorithms, reliable data, and ethical framework, which would ensure the trust of market participants.

Data protection and the protection of market participants was yet another important issue raised. It was pointed out that the quality of data, understood as their coherence, completeness and up-to-datedness, is the cornerstone of both effective supervision and consumer protection. A transparent and responsible approach to data processing, based on ethical values, was considered essential for lasting trust in the era of digital economy.