Internet banking in Poland - a short history

Service Business

Contemporary bank customers cannot imagine their lives without it - it allows for easy transfers, quick checking of the account balance and history, and collision-free online shopping. Internet banking, because we are talking about it, despite the fact that it is so popular, has a relatively short history in our country. Where did it start? What's next?

Internet banking - difficult beginnings

October 14, 1998 should be considered the beginning of internet banking in Poland. It was then that Bank Gospodarczy in Łódź introduced the possibility of running and servicing a bank account via the Internet. It was the first service of this type in the country on the Vistula River, which was initially treated as a curiosity and which did not attract much interest from bank customers.

There were many reasons for this. First of all, before 2000, only a small part of the society had access to the Internet. Secondly, the introduction of internet banking solutions was then associated with high costs for banks, which compensated for it by imposing additional fees on customers. All this meant that by the end of 2000, only 50,000 people used internet banking in Poland. people.

Virtual branches - a revolution in online banking

Since then, many banks have opened virtual branches that offered special, affordable products for people who wanted to use the online service. The downside of such a solution, which discouraged many users, was the fact that they could not count on traditional service in physical branches.

The next stage in the development of internet banking was the establishment of mBank, which offered only services provided by the network. It was the first fully virtual bank, initially selling very basic financial products. With time, however, more and more advanced solutions appeared, which attracted a larger group of satisfied customers.

Internet or traditional banking?

With time, it turned out that bank customers do not want to choose between online and traditional banking. That is why virtual branches began to fall into oblivion, and the dominant model has become the one in which the customer has access to the bank's services in various ways: via branches, the Internet, telephone.

Adequate adjustment of the offer to the needs of bank customers and the popularization of the Internet in Poland meant that in 2007, online banking was used by 5 million people! The following years brought a doubling of this number and currently these solutions are used by about 12 million Poles on a daily basis (11.4 million in 2012).

Internet banking is not the end ...

It turns out that with the development of modern technologies, the needs of bank customers are changing. That is why there are now more and more innovative solutions on the market that are slowly lagging behind online banking. Mobile applications that can be used on a smartphone or tablet are starting to come out for the lead.