Financial Innovations and Their Role in Banking Industry (The Area of Funds Transfer) Development in Poland

Dorota Korenik


The article aims to determine the characteristic features of the development of Polish banking in the area of funds transfer since the 1990s. through the prism of implemented innovations and their development. The study was conducted using both historiographic and factographic methods, as well as desk research. The fast pace of development of Polish banking is particularly visible in the area of services related to the transfer of funds. Directions of further development in this area focus on the speed, security and ease of payment transactions and other forms of financial settlements. Based on a preliminary analysis of the development processes in Polish banking since the early 1990s, one can observe four such breakthrough moments (mile-stones) that have introduced new revolutionary changes in areas related to money transfers, namely: the first cards and ATMs - "card revolution "; Internet banking services accessible from a personal computer; mobile banking services available from smartphones, tablets and other mobile devices; network banking based on blockchain technology. Observations provided evidence to support the thesis that the development of Polish banking was stimulated by implementing disruptive financial innovations and driving fast development based on implementing sustaining innovations at a given banking stage. The findings suggest that the main impetus for the continuous progress of such gradual "banking revolutions" lies outside the banking sector.
Author Dorota Korenik (E&F / DF)
Dorota Korenik,,
- Department of Finance
Publication size in sheets0.65
Book Soliman Khalid S. (eds.): Education Excellence and Innovation Management: A 2025 Vision to Sustain Economic Development during Global Challenges, 2020, International Business Information Management Association (IBIMA), ISBN 9780999855141
Keywords in EnglishFinancial Innovations, Funds Transfer, Polish Banking, Development
Referenced project[17] Program doskonałości naukowo - badawczej INTEREKON . . Project leader at WUEB: Ewa Stańczyk-Hugiet, , start date 01-01-2019, end date 31-12-2022, in run
Languageen angielski
KOrenik_D_Financial_Innovations_and_Their.pdf 150,55 KB
Score (nominal)70
Score sourceconferenceList
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Uwaga"The project is financed by the Ministry of Science and Higher Education in Poland under the programme "Regional Initiative of Excellence" 2019 – 2022 project number 015/RID/2018/19 total funding amount 10 721 040,00 PLN".
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