Jacek Jastrzębski gave a keynote speech during the opening of Future Finance Summit 2025, organised by Future Finance Poland.

In his speech, he talked about the challenges and directions for the development of the Polish financial system, also in the context of the growing importance of technological innovations.

The Chair of the KNF has emphasised that the technology sector, in particular the fintech sector, is both a beneficiary and co-creator of the financial system. Technology not only benefits from the well-functioning market, which is a source of funding and innovation, but also supports that market, for example by providing it with solutions, such as tokenization, AI or blockchain. 

He has noted that although Poland is among the world’s 20 largest economies, the size of the national financial sector does not reflect the scale of the economy. Further development of the sector is still needed to better support investments and economic growth. It is particularly important to increase banks’ lending activity, which – to a large extent – has given way to investments in treasury bonds. 

He has added that the Polish financial market is ‘overbanked’: approximately 85% of savings is held in deposits or invested in real estate. What is missing, however, is a developed capital market and an attractive, diversified range of alternative asset classes. It is necessary to develop capital markets, both the public and private markets (private equity, venture capital), including risk capital – all particularly important from the perspective of the technology sector, as they ensure ‘patient’ capital and support innovative firms. He has also assessed that in the face of challenges related to energy transition, defence, and infrastructure, Poland needs a more sustainable financing structure, linking banks as well as public and private capital markets.

Jacek Jastrzębski also indicated that in an increasingly digital world, the financial sector must develop resilience to cyber threats. New technologies can play a key role in providing defence tools aimed at protecting not only funds but also data, which have become ‘the new currency’. AI and machine learning, in particular, can support financial security by detecting fraud, money laundering, and cyberattacks. Such tools should be used as a protective shield for the financial system. 

He has added that the UKNF declares its full support for innovation and the use of new technologies wherever they contribute to the development of the financial market and facilitate the performance of functions of the financial market in the economy.