PKO Bank Polski Launches Durable Medium 2.0. This new solution makes it possible to deliver private documents to the customers of the bank in digital form. Scheduled to be launched first is the delivery of lists of payment transactions concerning credit cards and documentation concerning cash advances. Owing to the new feature of the durable medium, the bank will be able to increase the number of documents delivered to the customers in electronic form, which will reduce the carbon footprint generated by the operations of the company. The new solution adds to the features of the durable medium launched by PKO Bank Polski as early as in 2018.
Our customers have been supplied with product-related regulations on the durable medium based on blockchain technology for two years. The tool has enabled us to distribute documents more than 11 million times, which has saved us PLN 20m and significantly reduced the use of paper. In recent years we have dynamically developed our technology capacities, which enabled us to launch a new tool in cooperation with the National Clearing Chamber (KIR) - a durable medium for private documents. It uses cloud-based solutions and the blockchain technology, thanks to which private documents generated for individual customers of the bank can be delivered to them quickly and securely.”
says Adam Marciniak, Vice President of PKO Bank Polski.
The latest version of KIR’s durable medium is a versatile tool offering comprehensive electronic distribution of all types of documents. The combined application of a WORM matrix in a computing cloud, blockchain and trust services has produced a system which does not have an equivalent anywhere in Europe. Our solution makes it possible to distribute public information, such as price lists and product regulations, as well as private documents addressed to specific individuals in a secure and convenient manner. The first implementation of the solution in the largest retail bank on the market foreshadows a further dynamic development in the processes of digitization of the Polish economy.”,
says Piotr Alicki, CEO of KIR.
PKO Bank Polski is an unchallenged leader of the Polish banking sector. In the first half of 2020, the bank’s consolidated net profit amounted to PLN 1.3bn and its total assets reached PLN 377bn. The bank is the key supplier of financial services for all the customer segments, with the highest market shares in regard to savings (18.4 per cent), loans (17.6 per cent), leases (11.2 per cent) and the retail investment funds (22.2 per cent). With over 9.46 payment cards issued, the bank is the biggest issuer of debit and credit cards in Poland. Owing to the development of digital tools, including the IKO app, which had more than 4.7 active users at the end of the first half of 2020, PKO Bank Polski is the most mobile bank in Poland. The bank’s strong position is further reinforced by its subsidiaries. The Brokerage House of PKO Bank Polski is the leader of the capital market in terms of the number and value of IPO and SPO transactions.