An investment platform like Spotify. From disaster to redefining the simplicity of money management

Zalando, Spotify and investment platform – applications have one thing in common. Above all, they must be user-friendly thanks to a cardinal rule: ease of use from a smartphone. Poland is currently in the banking sector, but what about investment platforms? – Kamil Szymański, country manager of Trade Republic in Poland, answers these and other questions in an interview with Michał Niewiadomski from Bankier.pl.

Over the last 10 years, there has been a revolution in Poland when it comes to access to investment platforms. A decade ago, brokerage houses did not offer access to foreign markets or ETFs, which today are the basis of every modern investment platform.

– I come from the traditional investment world. I worked in London at Citibank. All financial instruments, clients from all over the world and so on – describes Kamil Szymański. – Daily work was less colorful. In 2012, the company had a major upgrade of its IT systems, which took months to prepare for. Almost everything that could go wrong did go wrong. Orders were not fulfilled and customers were not satisfied. In other words, everything was wrong, so it really freaked us out. At some point, my friend started playing with his smartphone, noticing that soon people will manage everything from this level. With such simplicity. This defined my perception of investment platforms – emphasizes Kamil Szymański.

Why do Poles approach investment like a hedgehog?

Currently, the challenge for investment platforms in Poland is trying to attract investors. This can be seen, among others, by the numbers: for almost 40 million Poles, there are only several hundred thousand active brokerage accounts. There are several theories about this state of affairs: poor economic education, fear of losing funds, lack of capital or simply “I don't want to”.

– In my opinion, there are simply no tools – explains the expert. – Poles want to invest and we can now offer mass customers a beautiful application with the ability to choose all financial instruments at a good price, presented in a friendly way. However, there is no human contactwhen an investor has a “pain”. Most platforms do not have a hotline, and we chat with AI – he adds.

Additionally, you need to talk about investments in a simple way.

When can we expect the perfect platform?

In 2020, when the pandemic broke out, millions of young people around the world rushed to investment platforms and took matters into their own hands. This is connected with a technological leap. Currently, there is no ideal investment platform on the Polish market.

– We are close – adds Kamil Szymański from Trade Republic with a smile. – Conscious investors will already find platforms on the market that combine the two most important issues: low costs and a very good choice, such as fractional shares – he adds.

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