The lendtech market in Poland
Krzysztof Przybysz, LOANDO Group CEO, commented: Lendtechs are a relatively new concept. The word describes financial institutions operating exclusively online. This fact in some way...
The new regulations proposed by the Ministry of Finance stipulate a reduction in the amount of non-interest costs from 55% to 20%. The Ministry of Finance supports its decision with concern for the oldest consumers, i.e. the elderly, for whom debt repayment is often a considerable problem. However, as experts argue, they are not the main target group for loan companies. Krzysztof Przybysz, LOANDO Group CEO, commented on this matter.
Krzysztof Przybysz, LOANDO Group CEO, said: “The Minister of Finance rationalised his decision to amend the Act with the need to protect the elderly from excessive usury. The project presented on 25 June (Thursday) seems to be a little bit too much in this context and it will not be very effective. Legal changes will affect online loan companies and loantech organisations whose customers are not the elderly – due to such factors as digital exclusion. They more often benefit from the services of organisations operating on the so-called grey market, the dimensions of which have the chance to grow thanks to the passing of the new Act against excessive usury.”