Pawel Widawski: The Thought Leader Shaping Poland’s Fintech Landscape

Pawel Widawski, with a career sprawling over a decade and a half in the fintech space, has solidified himself as an institution in the Polish and European payment regulatory and business environments. Holding an impressive roster of positions, from the Vice President of the Cashless Poland Foundation to a board member at the European Payments Council, his expertise isn't just demonstrated by titles, but by the tangible changes he's made in the financial landscape of Poland.

But it is FinTech Poland that stands as perhaps his most notable accomplishment. The establishment, which began as a brainchild of both Pawel and Piotr Brewiński, the current Vice President, was a response to their shared passion for financial innovation. Both were then employed at the Polish Bank Association, granting them a unique vantage point. They found themselves at the precipice of significant changes within the financial sector. As Pawel recounts, “It was our passion. We were at the forefront of financial innovations... We saw at the same time that something new was coming in 2015: a new phenomenon, with new people, new projects, new ventures, and we decided to set up a think tank.”

This think tank, initially just focusing on fintech activities, produced reports, analyses, and collaborated with consulting companies, market players, and payment schemes to address the burgeoning shifts in the financial world. The organization, however, was not to remain static. Recognizing the rapid evolutions in the fintech space by 2022, Pawel felt a need to adapt. “Think how fast this new world is changing, and how many new opportunities are on the horizon.”

Pawel's adaptive spirit led FinTech Poland to metamorphose into an expansive ecosystem. This wasn’t just a playground for emerging fintech startups, but a nexus where titans of the industry, such as Visa and Mastercard, could coalesce. Pawel’s vision encompassed an even broader spectrum, integrating public sector institutions like the Polish Financial Services Authority. The goal? To create a “unique space of collaboration and cooperation between different actors of this very sophisticated sector.”

Today, that vision has flourished remarkably. Within just a year, the organization has attracted almost 70 members, rapidly expanding its influence and reach. They don’t just engage in high-level discourse but have orchestrated a series of activities aimed at fostering growth and innovation in the financial sector.

Collaboration lies at the heart of any industry's evolution, and for FinTech Poland, this collaborative spirit has become its lifeblood. With its roots going back over seven years, the organization has recently witnessed a surge in interest and engagement, resulting in a thriving membership. A testament to the organization's burgeoning influence in the financial tech world.

Pawel Widawski is particularly proud of the collaborations that FinTech Poland has initiated to grow the fintech space, not only in Poland but also on a global scale. He mentions several critical undertakings, each of which showcases the organization's commitment to fostering innovation and cooperation.

One of the core activities that stands out is the establishment of specialized working groups and task forces. These units, dedicated to addressing specific challenges and opportunities in the fintech realm, provide valuable platforms for engagement and progress. A noteworthy group within this fold focuses on the crypto assets market. Through this endeavor, FinTech Poland is pioneering a unique collaboration between traditional financial institutions and virtual asset service providers. This is particularly significant as it demonstrates the organization's forward-thinking approach, bridging traditional and modern finance elements, particularly focusing on areas like IML (International Money Laundering) regulations.

Pawel also draws attention to another ambitious project: Future Finance Poland. This initiative was borne out of a realization that Warsaw's position in the global financial centers index had dropped, and there was a need to boost Poland's representation in this domain. The project is a blend of public-private partnerships aimed at establishing a next-gen financial center in Poland. Key stakeholders, including the Ministry of Finance, the Polish Financial Services Authority, and even the Polish Ministry of Foreign Affairs, are deeply engaged, underscoring the national importance of this endeavor.

But it's not just these large-scale projects that define FinTech Poland's success. The importance of networking, especially in the post-COVID world, cannot be understated. Every two months, the organization hosts meet-ups, bringing its members together to discuss a specific topic and foster connections. Moreover, to provide an even broader platform for engagement, they are organizing the Future Finance Summit in December, aimed at fostering collaboration and announcing new initiatives.

The impacts of the pandemic and the consequent lockdowns reverberated globally. Yet, as Pawel notes, there is a palpable hunger for in-person meetings in Poland. People are keen to reconnect, engage, and collaborate in physical spaces. While remote work will continue to be part of the new norm, striking the right balance between virtual and physical interactions is paramount for fostering innovation and maintaining the energy flow in the fintech sector.

“In an organization like ours,” Pawel says, noting the many activities and projects they're engaged in, “you can set up individual goals.” But beyond the day-to-day, he has his heart set on a grander vision.

“My personal dream,” Pawel shares candidly, “is the recognition of Poland as an important financial hub with global importance and impact.” He envisions Poland's fintechs, entrepreneurs, and financial companies having a strong presence on the global stage, a dream supported by the quality of products and services emerging from the nation.

But while the dreams are grand, they're not without their challenges. Pawel acknowledges a "mental block" that has been a barrier to many Polish entrepreneurs in achieving international success. The first limitation, he says, is geographical. “Poland has a relatively huge internal market,” he muses, thinking of the 40 million inhabitants that often see the country as a vast land ripe for opportunities. However, this vast internal market can become a comfort zone. “Polish entrepreneurs,” Pawel observes, “often design products for the Polish market.” The challenge, therefore, is to think beyond borders and design for the global stage from the get-go.

And the second limitation? It's deeply rooted in Poland's history. Having never been an imperial country and having spent many years under foreign occupation, Pawel believes that there's a collective learning curve for the country – “to expand peacefully, with our ideas, our projects, and our services.”

He sees a lot of progress in this realm, especially in the past three decades. Fintech Poland's current and future initiatives lean heavily into this vision of foreign expansion. Pawel talks excitedly about their collaborations with the Polish Ministry of Foreign Affairs and the Polish agency of investment and trade. “We organize trade missions,” he says, dropping a hint about an upcoming significant event in November.

The conversation pivots once again, touching on the mindset of the younger generation of entrepreneurs. To Pawel's delight, he sees the mental blockages dissipating with the younger crowd. “The super young entrepreneurs from the youngest generation probably don't have this blockade,” he remarks. But the financial space, being sophisticated, often sees older founders, who may still carry some of these mental limitations.

Yet, the winds of change are blowing. The younger generation, Pawel believes, is “absolutely global,” viewing the world without barriers in any aspect of life. “It is good news,” he concludes, a hopeful smile suggesting a bright future for Poland in the global fintech space.

Pawel’s narrative is a fusion of contrasts — the structured realm of law with the fluid dynamism of entrepreneurship. This unique blend has crafted a career that's both wide-ranging and deep-rooted.

A significant facet of his journey is his academic foray into law. Working at a prestigious university's faculty of law and administration, he dedicated more than a decade to the Porch Bank Association. There, he explored the intricacies of finance and digital technologies. His involvement in digital finance and cybersecurity highlights his adaptability and foresight to marry traditional education with evolving industry needs.

However, his formal roles are just one part of the story. Pawel's spirit of innovation took shape when he ventured into entrepreneurship. “Being a founder once changes your mindset forever,” he reflects. This experience instilled in him an enduring drive to create, innovate, and shape his surroundings. His combined expertise in law, regulations, finance, and an entrepreneurial streak gave him a unique perspective, allowing him to navigate the world of technology with a multifaceted lens.

When it comes to leadership, Pawel believes in a delicate balance between visionary clarity and team autonomy. A leader, he opines, should have a bold and clear vision. Yet, this vision becomes truly powerful when shared and owned collectively by the team. By giving his team space, responsibility, and a sense of ownership, Pawel ensures that the shared goal is both resonant and achievable.

But what truly stands out is Pawel’s personal philosophy, which is as straightforward as it is profound. Identifying as a hedonist, he expresses, “I only do what I love.” This philosophy extends beyond the professional realm and into his personal life. Every endeavor, every challenge he takes on, stems from a place of passion and joy.

The ethos of Pawel's life brings forth an intriguing proposition: What if true success is not just in achievement but in deriving pleasure from every endeavor? In a society driven by metrics and milestones, Pawel's narrative prompts us to reconsider our personal yardsticks. Perhaps it's worth reflecting, not on how much we've done, but how much joy we've found in doing it. And if we were to measure our lives by that scale, how would our stories change?

Images courtesy of: Pawel Widawski, Fintech Poland