Online financial intermediation market – what does it look like in Poland and how abroad?

Financial intermediation, formerly credit, has its permanent place on the Polish financial market. The services of credit intermediaries are usually used by retail clients who lack confidence in navigating the bank offers, as well as knowledge to compare different proposals.

It is not uncommon for a lack of time and opportunity


To gather information from various financial institutions that makes the client go to the credit brokerage office instead of to the first better bank. The development of modern technologies, access to them and increasingly better assimilation of online tools by modern users allow to expand the possibilities offered by credit brokerage. The changes primarily concern the need to complete formalities in person at the office.

The development of the financial system and credit intermediation in Poland and Europe

Former financial system in Poland

The Polish financial system of the 1970s, based on the monopoly of the central bank, which took over all the competences of banking, credit and insurance institutions, required transformation. The changes did not bring until the 1990s, when the construction of the capital market began from the foundations. Various entities took over activities in the field of brokerage services, investment funds and insurance.

The origins of the financial system in Europe


At the same time, in the economically developed countries of Western Europe, the financial system was already operating as a free market. The activities of financial entities on the retail market, where the main recipient of banking products and services was a retail client, was accompanied by the development of pro-consumer policy. Legal regulations at European level have been systematically introduced on the domestic financial intermediation market since the 1990s.

Financial intermediation market in Poland – the first brokerage companies on the free market

The beginnings of credit brokerage in Poland

Loan brokerage appeared in the early 1990s, when a gap was noticed in the offers of banks completely unprepared for customer service at the level of installment loans in modest amounts. Originally, stores had to go out to meet the expectations of a customer who wanted to buy material goods. As part of their organizations, they created financial departments servicing installment sales (bank loans). The first credit brokerage companies – Żagiel, Lukas, Best and AIG Credit – entered the market, not related to trade.

Changes have also appeared in the banks’ approach to the retail client. He earned more, his creditworthiness and willingness to own goods of varying value grew – from housing to new home appliances or electronics. So he joined the target group of banking institutions.