Faktoring Operations in Poland 2025: Market Trends, Growth Drivers, and Competitive Landscape. An In-Depth Analysis of Key Players, Regulatory Shifts, and Digital Transformation Shaping the Industry.

• Executive Summary: Key Findings and Market Outlook
• Market Overview: Size, Segmentation, and Historical Growth
• Key Trends in 2025: Digitalization, Automation, and New Product Offerings
• Demand Drivers: SME Financing Needs and Macroeconomic Factors
• Competitive Landscape: Major Players, Market Shares, and Strategic Moves
• Regulatory Environment: Recent Changes and Compliance Challenges
• Technology Adoption: Impact of Fintech and Digital Platforms
• Customer Insights: Usage Patterns and Satisfaction Levels
• Risks and Challenges: Credit Risk, Fraud, and Market Volatility
• Future Outlook: Forecasts, Opportunities, and Strategic Recommendations
• Sources & References

Executive Summary: Key Findings and Market Outlook

The Polish factoring market has demonstrated robust growth and resilience, positioning itself as a critical component of the country’s financial services sector. In 2025, factoring operations in Poland are projected to continue their upward trajectory, driven by increasing demand for flexible working capital solutions among small and medium-sized enterprises (SMEs) and large corporations alike. According to data from the Polski Związek Faktorów (Polish Factors Association), the total value of purchased receivables in 2024 exceeded PLN 500 billion, marking a year-on-year increase of approximately 15%. This momentum is expected to persist into 2025, with market analysts forecasting double-digit growth rates as businesses seek to mitigate payment risks and improve liquidity.

Key findings highlight that the factoring sector’s expansion is underpinned by several factors:

• Macroeconomic Stability: Poland’s stable economic environment and steady GDP growth have fostered a favorable climate for factoring services, particularly as companies look to optimize cash flow amid evolving market conditions.
• Digital Transformation: The adoption of digital platforms and automation has streamlined factoring processes, reducing operational costs and turnaround times. Leading providers such as ING Bank Śląski and PKO Faktoring have invested heavily in digital solutions, enhancing customer experience and accessibility.
• Regulatory Support: The regulatory framework in Poland remains supportive, with ongoing efforts to harmonize local practices with EU directives, thereby increasing transparency and investor confidence.
• SME Penetration: SMEs account for a significant share of factoring clients, reflecting the sector’s role in supporting the backbone of the Polish economy. Tailored products and increased awareness have contributed to higher adoption rates among smaller enterprises.

Looking ahead, the market outlook for 2025 is optimistic. The sector is expected to benefit from continued digital innovation, further integration with supply chain finance, and the expansion of non-recourse factoring products. However, potential challenges include heightened competition, margin pressures, and the need to address cybersecurity risks associated with digitalization. Overall, factoring operations in Poland are set to remain a dynamic and integral part of the financial landscape, supporting business growth and stability in the coming year PwC Poland.

Market Overview: Size, Segmentation, and Historical Growth

The factoring market in Poland has demonstrated robust growth over the past decade, establishing itself as a key component of the country’s financial services sector. Factoring, which involves the purchase of receivables by a financial institution (the factor) from businesses to improve their liquidity, has gained significant traction among Polish enterprises, particularly small and medium-sized enterprises (SMEs) seeking alternative financing solutions.

As of 2024, the total value of receivables purchased by factoring companies in Poland reached approximately PLN 460 billion, marking a steady increase from PLN 390 billion in 2022 and PLN 340 billion in 2020. This represents a compound annual growth rate (CAGR) of around 10% over the past five years, outpacing the broader financial services sector’s average growth rate. The number of clients utilizing factoring services also rose, surpassing 25,000 active users in 2024, compared to just over 20,000 in 2020, reflecting growing market penetration and awareness among Polish businesses Polski Związek Faktorów.

The market is segmented primarily by the type of factoring service offered: domestic factoring, international factoring, recourse factoring, and non-recourse factoring. Domestic factoring remains the dominant segment, accounting for over 80% of total turnover, as most Polish SMEs operate within the national market. However, international factoring has seen accelerated growth, driven by Poland’s strong export sector and integration with European supply chains. In 2024, international factoring accounted for nearly 18% of total factoring turnover, up from 14% in 2020 FCI (Factors Chain International).

The client base is diversified across industries, with manufacturing, wholesale trade, and transport/logistics being the largest users of factoring services. These sectors benefit from factoring’s ability to stabilize cash flow in the face of extended payment terms and supply chain disruptions. The market is served by both bank-affiliated and independent factoring companies, with the top five providers controlling over 60% of the market share, indicating moderate consolidation PwC Poland.

Overall, the historical growth of factoring operations in Poland reflects increasing demand for flexible working capital solutions, a trend expected to continue into 2025 as businesses seek resilience amid economic uncertainty and evolving trade dynamics.

Key Trends in 2025: Digitalization, Automation, and New Product Offerings

In 2025, the Polish factoring market is undergoing significant transformation, driven by three primary trends: digitalization, automation, and the introduction of innovative product offerings. These trends are reshaping how factoring services are delivered and consumed, reflecting broader shifts in the financial services sector.

Digitalization is at the forefront, with factoring companies investing heavily in advanced IT infrastructure and digital platforms. The adoption of online portals and mobile applications has streamlined client onboarding, document submission, and real-time monitoring of factoring transactions. This shift is not only enhancing customer experience but also reducing operational costs and turnaround times. According to Polski Związek Faktorów, over 80% of factoring transactions in Poland are now initiated and managed through digital channels, a significant increase from previous years.

Automation is another key trend, particularly in credit risk assessment and invoice verification processes. Factoring providers are leveraging artificial intelligence and machine learning algorithms to automate the evaluation of client creditworthiness and the authenticity of invoices. This has led to faster decision-making and a reduction in manual errors. KPMG Poland reports that automation has cut average processing times by up to 40%, enabling factoring companies to handle higher transaction volumes without proportional increases in staffing.

New product offerings are emerging in response to evolving client needs and competitive pressures. Beyond traditional recourse and non-recourse factoring, providers are introducing supply chain finance, reverse factoring, and sector-specific solutions tailored for industries such as e-commerce and construction. These products often come bundled with value-added services like real-time analytics, debtor monitoring, and integration with clients’ ERP systems. PwC Poland notes that the diversification of factoring products is attracting a broader range of SMEs, including those previously underserved by conventional banking products.

• Digital platforms are now standard, with most major players offering end-to-end online services.
• AI-driven automation is reducing risk and improving efficiency across the factoring value chain.
• Product innovation is expanding the market, particularly among SMEs and new economy sectors.

These trends are expected to accelerate in 2025, positioning the Polish factoring market as one of the most technologically advanced in Central and Eastern Europe, and setting new benchmarks for efficiency and client-centricity in financial services.

Demand Drivers: SME Financing Needs and Macroeconomic Factors

Faktoring operations in Poland are significantly influenced by the evolving financing needs of small and medium-sized enterprises (SMEs) and broader macroeconomic factors. In 2025, the demand for factoring services is expected to remain robust, driven by SMEs’ ongoing challenges in accessing traditional bank credit and the need for improved liquidity management. Polish SMEs, which constitute over 99% of all enterprises in the country, often face delayed payments and extended receivables cycles, making factoring an attractive solution for immediate working capital needs.

According to Polska Agencja Rozwoju Przedsiębiorczości (PARP), SMEs in Poland continue to report cash flow constraints as a primary barrier to growth, particularly in sectors such as manufacturing, wholesale, and transport. Factoring addresses these constraints by enabling businesses to convert receivables into cash, thus supporting day-to-day operations and investment in expansion. The Polish Factoring Association (Polski Związek Faktorów) reported that the total value of purchased receivables in 2024 exceeded PLN 450 billion, with SMEs accounting for a significant share of this volume.

Macroeconomic factors also play a pivotal role in shaping factoring demand. In 2025, Poland’s GDP growth is projected to stabilize after a period of volatility, with inflation rates gradually declining from their 2022-2023 peaks. However, interest rates remain relatively high compared to pre-pandemic levels, making traditional loans more expensive and less accessible for SMEs. This environment further incentivizes the use of factoring as a flexible and cost-effective financing alternative. Additionally, the ongoing digitalization of financial services and the adoption of e-invoicing, supported by regulatory initiatives such as the National e-Invoicing System (Krajowy System e-Faktur), are streamlining factoring processes and reducing operational barriers for SMEs.

External trade dynamics also influence factoring demand. As Polish SMEs increasingly participate in cross-border trade within the EU, the need for export factoring solutions is rising. This trend is supported by data from Statistics Poland (GUS), which highlights steady growth in SME export activity. In summary, the interplay of SME financing needs, macroeconomic conditions, and regulatory advancements is expected to sustain and potentially accelerate the growth of factoring operations in Poland in 2025.

Competitive Landscape: Major Players, Market Shares, and Strategic Moves

The competitive landscape of factoring operations in Poland in 2025 is characterized by a concentrated market dominated by a handful of major players, with ongoing strategic maneuvers to capture market share and adapt to evolving client needs. The Polish factoring market has consistently ranked among the largest in Central and Eastern Europe, with total turnover exceeding PLN 450 billion in 2024, reflecting robust demand from SMEs and large enterprises alike.

Key players include PKO Faktoring, ING Commercial Finance Polska, Pekao Faktoring, Bibby Financial Services, and mFaktoring. According to the Polish Factors Association, these top five companies collectively accounted for over 60% of the market share in 2024, with PKO Faktoring and ING Commercial Finance Polska leading the pack. International players, such as Santander Factoring and BNP Paribas Faktoring, have also strengthened their positions through targeted acquisitions and digital innovation.

Strategic moves in 2024–2025 have centered on digital transformation, product diversification, and partnerships. Major players have invested heavily in automating onboarding and risk assessment processes, leveraging AI and machine learning to streamline credit decisions and enhance customer experience. For instance, ING Commercial Finance Polska launched a fully digital factoring platform, reducing approval times and attracting tech-savvy SMEs. Similarly, Bibby Financial Services expanded its portfolio to include supply chain finance and reverse factoring, targeting larger corporate clients and cross-border transactions.

Market consolidation remains a notable trend, with several mid-sized firms seeking mergers or strategic alliances to achieve scale and compete with the dominant players. Additionally, banks with established factoring subsidiaries, such as Pekao Faktoring and mFaktoring, have leveraged their parent banks’ client bases to cross-sell factoring services, further entrenching their market positions.

Looking ahead to 2025, the competitive landscape is expected to intensify as fintech entrants and non-bank financial institutions introduce innovative, digital-first solutions. However, regulatory compliance, risk management, and the ability to offer tailored products will remain key differentiators among the leading factoring providers in Poland.

Regulatory Environment: Recent Changes and Compliance Challenges

The regulatory environment for factoring operations in Poland has undergone significant changes in recent years, with 2025 marking a period of heightened compliance demands and evolving oversight. The Polish Financial Supervision Authority (Polish Financial Supervision Authority) has intensified its scrutiny of non-bank financial institutions, including factoring companies, in response to the sector’s rapid growth and its increasing role in SME financing. This shift is partly driven by the need to align with broader European Union directives, such as the Anti-Money Laundering Directive (AMLD5 and AMLD6), and to address risks related to financial crime and customer due diligence.

A notable regulatory development is the implementation of stricter anti-money laundering (AML) and counter-terrorism financing (CTF) requirements. Factoring companies are now required to conduct enhanced due diligence, report suspicious transactions more rigorously, and maintain comprehensive records of client activities. The Polish Financial Supervision Authority has issued updated guidelines on risk assessment and internal controls, compelling market participants to invest in compliance infrastructure and staff training.

Another significant change is the introduction of the National System of e-Invoices (KSeF), which became mandatory for B2B transactions in 2024 and is now fully operational in 2025. This system, overseen by the National Revenue Administration, requires all invoices to be issued and stored electronically through a centralized platform. For factoring companies, this means adapting their IT systems to integrate with KSeF, ensuring real-time access to invoice data, and updating their verification processes to comply with new digital standards. While this enhances transparency and reduces fraud risk, it also presents operational challenges, particularly for smaller factoring firms with limited technological resources.

Compliance challenges are further compounded by the evolving tax landscape. The Polish government has tightened VAT regulations to combat carousel fraud, increasing the burden on factoring companies to verify the authenticity of invoices and the tax status of their clients. Failure to comply can result in severe penalties, including financial sanctions and reputational damage.

In summary, the regulatory environment for factoring in Poland in 2025 is characterized by increased oversight, digitalization, and a greater emphasis on AML/CTF compliance. Factoring companies must navigate these changes by investing in technology, enhancing internal controls, and maintaining close communication with regulatory authorities to ensure ongoing compliance and operational resilience.

Technology Adoption: Impact of Fintech and Digital Platforms

The adoption of fintech solutions and digital platforms is significantly transforming factoring operations in Poland, with 2025 marking a period of accelerated technological integration. Factoring, which involves the purchase of receivables to provide immediate liquidity to businesses, has traditionally relied on manual processes and face-to-face interactions. However, the rise of fintech has introduced automation, real-time analytics, and seamless digital onboarding, fundamentally reshaping the sector.

Polish factoring companies are increasingly leveraging advanced digital platforms to streamline client onboarding, credit risk assessment, and transaction processing. These platforms utilize artificial intelligence (AI) and machine learning (ML) algorithms to evaluate creditworthiness, detect fraud, and automate decision-making, reducing operational costs and turnaround times. For example, leading market players such as ING Bank Śląski and PKO Bank Polski have invested heavily in proprietary fintech solutions, enabling clients to submit invoices, monitor payments, and access funds through user-friendly online portals and mobile applications.

The impact of these innovations is evident in the sector’s performance. According to Polski Związek Faktorów, the Polish factoring market reached a record transaction volume in 2023, with digitalization cited as a key growth driver. By 2025, the trend is expected to continue, with more than 80% of factoring transactions projected to be initiated and managed digitally. This shift is not only enhancing efficiency but also expanding access to factoring services among small and medium-sized enterprises (SMEs), which previously faced barriers due to complex paperwork and lengthy approval processes.

• API integrations with accounting and ERP systems are enabling real-time data exchange, further reducing manual input and errors.
• Cloud-based platforms are supporting scalability and remote access, crucial for business continuity and client convenience.
• Regulatory technology (regtech) tools are being adopted to ensure compliance with evolving anti-money laundering (AML) and know-your-customer (KYC) requirements.

In summary, the rapid adoption of fintech and digital platforms is driving a paradigm shift in Polish factoring operations, fostering greater transparency, speed, and inclusivity. As digital maturity increases, the sector is poised for sustained growth and enhanced competitiveness in 2025 and beyond.

Customer Insights: Usage Patterns and Satisfaction Levels

The Polish factoring market has experienced robust growth in recent years, with 2025 continuing this upward trajectory. Customer insights reveal evolving usage patterns and satisfaction levels among businesses leveraging factoring services. According to data from the Polski Związek Faktorów (Polish Factors Association), the number of companies utilizing factoring surpassed 25,000 in 2024, with a notable increase in small and medium-sized enterprises (SMEs) adopting these solutions. This trend is expected to persist in 2025, driven by the need for improved liquidity and risk mitigation amid economic uncertainties.

Usage patterns indicate a shift from traditional recourse factoring towards non-recourse and full-service offerings. Clients increasingly value comprehensive packages that include credit risk assessment, debt collection, and real-time digital monitoring. The adoption of digital platforms has accelerated, with over 70% of factoring clients in Poland now accessing services online or via dedicated mobile applications, as reported by PwC Poland. This digital transformation has enhanced user experience, reduced processing times, and improved transparency, contributing to higher satisfaction levels.

Sectoral analysis shows that manufacturing, wholesale trade, and transport remain the dominant users of factoring, collectively accounting for over 60% of the market volume. However, there is growing penetration in the IT, healthcare, and e-commerce sectors, reflecting the diversification of the Polish economy and the adaptability of factoring products to various business models.

Customer satisfaction surveys conducted by Kantar in late 2024 highlight that 82% of Polish factoring clients rate their overall satisfaction as “high” or “very high.” Key drivers of satisfaction include the speed of fund disbursement, flexibility of contract terms, and the quality of customer support. However, some clients express concerns about the cost of services and the complexity of certain contractual clauses, suggesting room for further simplification and price transparency.

In summary, 2025 sees Polish factoring clients increasingly demanding digital, flexible, and sector-specific solutions. High satisfaction levels are underpinned by technological innovation and responsive service, though providers must continue to address cost and clarity to maintain and grow their customer base in a competitive market.

Risks and Challenges: Credit Risk, Fraud, and Market Volatility

Faktoring operations in Poland are poised for continued growth in 2025, but the sector faces significant risks and challenges, particularly in the areas of credit risk, fraud, and market volatility. These factors are critical for both established factoring companies and new entrants, as they directly impact profitability, operational stability, and client trust.

Credit Risk: The primary risk in factoring is the possibility that debtors will default on their obligations. In Poland, the macroeconomic environment in 2025 is expected to remain uncertain, with inflationary pressures and potential slowdowns in key sectors such as construction and retail. This increases the likelihood of payment delays or insolvencies among clients’ customers, directly affecting the quality of factored receivables. According to Polski Związek Faktorów, the share of non-performing receivables in the factoring portfolio has shown a slight uptick in recent quarters, prompting providers to tighten credit assessment procedures and invest in more sophisticated risk management tools.

Fraud: Fraudulent activities remain a persistent challenge in the Polish factoring market. Common schemes include the submission of fictitious invoices, double financing of the same receivable, and collusion between clients and their customers. The digitalization of factoring processes, while improving efficiency, has also introduced new vulnerabilities, such as cyberattacks and identity theft. In response, leading players are increasing investments in advanced analytics, AI-driven fraud detection, and robust KYC (Know Your Customer) protocols. The Polish Financial Supervision Authority (KNF) has also issued updated guidelines to strengthen anti-fraud measures across the sector.

• Market Volatility: The Polish factoring market is sensitive to broader economic cycles and global disruptions. Fluctuations in interest rates, exchange rates, and commodity prices can affect both the cost of capital for factoring companies and the financial health of their clients. The ongoing geopolitical tensions in Eastern Europe and supply chain disruptions continue to create uncertainty, leading to more conservative risk appetites among providers. According to PwC Poland, market volatility in 2025 may result in slower growth rates and increased competition, as providers seek to diversify their portfolios and focus on sectors with lower risk profiles.

In summary, while the Polish factoring market offers significant opportunities, effective management of credit risk, fraud, and market volatility will be crucial for sustainable growth in 2025. Providers that invest in technology, robust risk assessment, and compliance will be better positioned to navigate these challenges.

Future Outlook: Forecasts, Opportunities, and Strategic Recommendations

The future outlook for factoring operations in Poland in 2025 is shaped by a combination of robust market growth, evolving client needs, and regulatory developments. The Polish factoring market has demonstrated resilience and adaptability, with total turnover reaching PLN 460 billion in 2023, marking a 12% year-on-year increase, and is projected to continue its upward trajectory in 2025 Polski Związek Faktorów. This growth is underpinned by the increasing adoption of factoring services among small and medium-sized enterprises (SMEs), which seek liquidity solutions amid persistent payment delays and tightening credit conditions.

Key opportunities in 2025 will arise from the digital transformation of factoring services. The integration of advanced technologies such as artificial intelligence, machine learning, and blockchain is expected to streamline risk assessment, automate document processing, and enhance fraud detection. These innovations will not only improve operational efficiency but also expand access to factoring for a broader range of businesses, including micro-enterprises and startups PwC Poland.

Another significant opportunity lies in the growing demand for export factoring, as Polish companies increasingly engage in international trade. The expansion of cross-border factoring services will be facilitated by Poland’s strong ties within the European Union and the ongoing harmonization of regulatory frameworks, which reduce barriers for international transactions FCI (Factors Chain International).

However, the market faces challenges, including potential economic slowdowns, rising interest rates, and regulatory changes related to anti-money laundering (AML) and know-your-customer (KYC) requirements. Factoring companies will need to invest in compliance and risk management systems to navigate these complexities effectively Polish Financial Supervision Authority (KNF).

• Strategic Recommendations:
• Accelerate digitalization to reduce operational costs and improve client experience.
• Develop tailored products for SMEs and micro-enterprises, focusing on flexibility and speed.
• Expand export factoring offerings to capture growth in international trade.
• Strengthen compliance frameworks to address evolving regulatory requirements.
• Foster partnerships with fintechs and banks to leverage technological and distribution synergies.

In summary, the Polish factoring market in 2025 is poised for continued expansion, driven by digital innovation, SME demand, and internationalization. Strategic investments in technology and compliance will be critical for market participants to capitalize on emerging opportunities and mitigate risks.

Sources & References

• Polski Związek Faktorów
• ING Bank Śląski
• PwC Poland
• FCI (Factors Chain International)
• Polski Związek Faktorów
• KPMG Poland
• Polska Agencja Rozwoju Przedsiębiorczości (PARP)
• Krajowy System e-Faktur
• Statistics Poland (GUS)
• PKO Faktoring
• Pekao Faktoring
• Bibby Financial Services
• mFaktoring
• Santander Factoring
• BNP Paribas Faktoring
• Polish Financial Supervision Authority
• Kantar
• Polski Związek Faktorów