New Technologies in Banking: How to Accelerate Innovation and Enhance Security

In today’s episode of the podcast “Business Tech Talks powered by BlueSoft”, we discuss the key takeaways from a conversation on the impact of modern technologies on the banking sector and the evolution of services—from traditional branches to advanced mobile applications. We focus on the increasingly blurred lines between fintech companies and traditional banks, the role of IT as a strategic foundation of modern organizations, and the practical application of artificial intelligence in hyper-personalization and cybersecurity.

Together with Stefan Bogucki from Revolut and Maciek Krzemiński from BlueSoft, we analyze the challenges related to legacy systems, cloud adoption, and the growing trend of financial super apps. Below is a summary of the episode transcript.

The Evolution of Polish Banking: From Branch Counters to Smartphones

The history of digital transformation in Poland began approximately 23 years ago with the launch of mBank and Inteligo. It was a breakthrough moment when traditional “marble halls”—physical bank branches—were replaced by browser-based access. Today, experts point to another major shift: the mobile channel has overtaken web-based solutions.

For modern consumers, the smartphone is becoming more important than the wallet. It integrates payments, digital identity (such as the mObywatel app), and all banking services in one place.

Social Changes and Generational Challenges

Digital transformation is happening organically, driven by trends set by younger generations. However, seniors remain a challenge for the sector, as adapting to the modern digital world can be more difficult for them.

Although the number of physical bank branches across Europe is steadily declining, banks still need to maintain “two-speed services” to support customers who prefer traditional, in-person visits and checking their balance at the counter.

Fintechs vs. Banks: Blurring Boundaries

Fintech companies such as Revolut (operating for 10 years) were built in the cloud from the outset—without legacy systems or physical branches. Today, the differences between fintechs and traditional banks are becoming less visible, as both rely heavily on technology and code.

The key differentiator remains regulation and banking licenses. Revolut’s banking license in Europe has shifted its perception from a “modern startup” to a trusted financial institution that safeguards deposits—an essential factor if customers are to deposit their salaries there.

The Future of Revolut: Hyper-Personalization and Expansion Beyond Finance 

Revolut plans to accelerate its development using machine learning and AI, aiming for hyper-personalization. The app is designed to dynamically adapt to users’ lifestyles—for example, suggesting discounts on ski equipment or hotels during winter holidays.

The company is also expanding beyond financial services into travel and telecommunications (e.g., offering eSIM cards). The challenge lies in organizing more than 100 available products within the limited space of a smartphone screen.

IT as a Business Enabler

In modern banking, IT is no longer a separate silo—it has become the foundation of business strategy. Today, more than 60% of banks’ CAPEX is allocated to technology. IT leaders (C-level executives) sit on management boards and actively shape strategic direction.

Cross-functional collaboration (Scrum, Agile) is key, with technology serving as a business growth enabler rather than an end in itself.

Key Technology Trends and the Fight Against Legacy Systems 

Beyond AI, the most important trends include:

• Cybersecurity – A constant arms race with cybercriminals. Banks and fintechs use AI to monitor millions of transactions in real time to detect phishing, fraud, and social engineering campaigns.

• Moving away from legacy systems – Gradually replacing rigid, outdated systems that slow down change implementation (e.g., quarterly release cycles).

• Cloud adoption – Despite regulatory constraints (such as those imposed by the Polish Financial Supervision Authority), banks are increasingly using cloud solutions for non-critical services.

Applications of Artificial Intelligence (AI & GenAI)

Experts divide AI applications into several categories:

• Predictive AI – Used for years to analyze data and detect suspicious transactions (e.g., blocking a withdrawal in New York 10 minutes after a transaction in Warsaw).

• Generative AI (LLMs) – Revolutionizing customer service (advanced chatbots such as “Mila” at Revolut), optimizing software development, and automating complaint handling processes.

Customer education – Simple warning prompts (“speed bumps”) that encourage users to reconsider before transferring money to a new recipient.

The Super App Concept and Competition with Big Tech

The market is witnessing a growing trend of super apps that integrate financial services with everyday needs (tickets, parking, hotel bookings). Although giants such as Elon Musk (X) or Meta may attempt to enter this space, Polish experts believe users will remain loyal to banking applications.

Trust, security, and high-quality user experience (UX)—areas where Polish banking ranks among the global leaders—are decisive factors.