The growing role of the financial sector in the Krakow IT market

The landscape of Krakow's IT market is transforming with the growing importance of fintech and financial services companies. These firms are not just mere players but major contributors to the city's employment landscape. HSBC stands out among them, becoming in 2023 the number one employer of IT specialists in Krakow.

HSBC, one of the world's largest banking and financial services organizations, has its global operations, technology, finance, and risk & compliance center - HSBC Service Delivery Poland, situated right in Krakow. The center is a powerhouse of 4,500 employees, collaborating with an additional 2,000 B2B contract staff, providing specialized services that range from revamping banking systems to managing an astounding 2 trillion payments annually.

Krakow is home to global players and emerging fintech startups. Companies like Euroclear, Papaya Global, and Zilch are some of the recent entrants making their mark in Krakow's thriving financial sector. Indeed, Euroclear, the world's leading settlement system for securities transactions, recently set up its tech hub in Krakow, aiming to tap into the city’s thriving tech ecosystem and rich talent pool. With around 800 employees already, Euroclear plans to add another 400 in the next three years, making Krakow its second-largest office after Brussels.

Krakow has carved out a niche for itself as a hotspot for fintech and other IT companies, and there are several reasons for this. The city is home to top Polish universities acknowledged worldwide, facilitating the consistent supply of high-quality talent. Efficient communication links with other European cities and well-established collaborations with global players further augment Krakow's appeal. Alior Bank is one of the many firms that recognized this potential, setting up its Financial Technology Center of Excellence in Krakow and employing over 900 top-class specialists.

Fintech companies in Krakow have a wide range of roles and skill sets, from dedicated project managers and product managers to business analysts, UX designers, and teams of developers, testers, and specialists, all contributing to the city's tech ecosystem. With a positive environment and the available talent pool, Krakow continues to attract more global fintech players, further cementing its position as a leading tech hub.