Challenges facing banks in Poland in the digitalisation era: legal solutions and strategic advice

A significant challenge is the Digital Operational Resilience Act (DORA), which requires banks to manage digital risks effectively. DORA mandates regular assessments of Information and Communication Technology (ICT) systems, robust governance and incident reporting to regulators. It also requires banks to conduct testing to ensure they and third-party providers can handle cyberthreats, requiring comprehensive ICT risk management policies and compliance checks.

The rise of AI in banking introduces additional challenges. The AI Act requires compliance, as banks increasingly use AI for "hyperpersonalisation", analysing client patterns for tailored services. However, this must be done carefully to avoid regulatory pitfalls.

New technologies, like cloud services and blockchain, raise concerns about anti-money laundering and terrorist financing regulations. The anonymous nature of cryptocurrency data forces banks to strengthen verification processes.

Compliance with the GDPR and Polish banking laws also presents challenges, requiring banks to invest in secure digital infrastructures. Cybersecurity remains a critical concern, with the EU's Directive on Security of Network and Information Systems mandating robust protections. Failure to comply could result in severe penalties, highlighting the need for investments in both technology and legal expertise.

In conclusion, while the digital era presents opportunities for growth, banks must navigate complex legal frameworks such as DORA, the AI Act and the GDPR. Strategic investments in technology, cybersecurity and legal compliance, along with professional guidance, are essential for thriving in Poland's evolving banking sector.

authors: Aleksandra Golawska, Weronika Kapica