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According to a study by EY and the Institute of International Finance (IFM), cyber security is the most important risk that banks must manage today. This type of threat even overtakes credit risk. It's no surprise, then, that banks are eager to implement systems guaranteeing the security of online transactions.

The Cooperative Bank in Wschowa is a modern and secure organization with only Polish capital, operating on the market for more than 75 years. It is one of the digitization leaders and has received a number of awards in Poland and abroad for the innovative technological solutions it has implemented. The bank's latest IT project is aimed at increasing the security of transactions carried out by customers using online and mobile banking services.

Cyberattacks on banks increasingly sophisticated

Last year, the Financial Supervisory Commission (KNF) made an announcement, reminding financial institutions of the risks associated with cyberattacks. According to the KNF's data, there were up to 500% more such attacks between 2021 and 2022. The methods used by cybercriminals have become increasingly sophisticated, so fighting them effectively requires both the support of technology and continued awareness of users about the threats present in the digital space.

“We have decided to implement Asseco FDS to reduce the number of fraudulent transactions and the losses that come with them. Cyber criminals often target organizations in the financial industry and their customers. Sophisticated cybercriminal methods are able to change the phone number or email address from which fraudsters make contact. When they call, the victim's phone may display a different, known number or a bank name. Therefore, in addition to securing our bank from the technological side, we also conduct numerous educational campaigns. With the help of available media and organized meetings, we warn against increased social engineering attacks, such as vishing and spoofing” - explains Michał Przyjemski, Vice President of the Management Board of the Cooperative Bank in Wschowa.

Real-time monitoring of transactions

Asseco FDS (Fraud Detection System) is a solution for banks to help them fight cybercriminals and secure their customers' money. The system monitors concluded transactions in real time. It correlates data about the user, coming from different sources, which allows to get a complete picture of the user and identify their typical behavior. The bank's analyst receives a notification when the system detects a suspicious transaction, such as one made at an unusual time, or from a different location than the one corresponding to the user's whereabouts.

Asseco FDS provides bank employees with a set of information necessary in the process of verifying suspicious transactions, both those selected automatically and those reported by customers. This gives the bank the ability to analyze a given case from the perspective of a crime, and, if necessary, to take additional verification actions. Preventive actions taken by the system in real time can include stopping suspicious transactions. Quick detection and prevention of fraud contributes to maintaining customer confidence and the reputation of the financial institution.

Rapid response to new forms of abuse

“We are aware that cybercriminals constantly change the way they operate. That's why Asseco FDS is equipped with a rule editor that makes it possible to easily add a new or modify an existing detection rule as needed. This allows us to react quickly whenever the perpetrators’ new way of operation emerges and to search the system's repository for similar incidents” - says Paweł Kusza, Project Manager, Cooperative Banks Division, Asseco Poland.

For more information about Asseco FDS, click this link.

In 2022, the Asseco Group reached PLN 17.4 billion (EUR 3.7 billion) in revenues, which marked an increase by 20% versus the previous year. The sales of its proprietary products and IT services increased by 19% and exceeded PLN 13.4 billion (EUR 2.9 billion). Operating profit, after a 25% increase, amounted to PLN 1.8 billion (EUR 387 million), and net profit attributable to shareholders of the parent company went up by 8% to PLN 503 million (EUR 107 million). Asseco remained active in M&A – 16 companies joined the Group in the past year.

In 2022, non-IFRS* operating profit amounted to PLN 2.0 billion (EUR 433 million), up by 14% versus the 2021 levels. In turn, non-IFRS net profit attributable to Asseco Poland’s shareholders stood at PLN 547 million (EUR 117 million), which marked an increase by 6%. For the Asseco Group, the non-IFRS figures provide important information on its financial situation and business development.

Asseco's revenues are very well diversified. In 2022, the general business sector was responsible for 42% of sales, the banking and finance sector accounted for 33% and public institutions for 25% of total revenues. The Group recorded double-digit growth in all sectors.

Asseco strengthened its position in all geographic segments. In 2022, the foreign markets represented by the Formula Systems and Asseco International segments together accounted for 90% of the Group’s revenues. The sales of the Formula Systems segment increased by 23% to PLN 11.5 billion (EUR 2.4 billion), and operating profit by 49% to PLN 1.1 billion (EUR 242 million). After non-IFRS adjustments, the segment's operating profit stood at PLN 1.3 billion (EUR 271 million), which marked an increase of 20% versus the 2021 non-IFRS operating profit. In the Asseco International segment, revenues increased by 15% to PLN 4.2 billion (EUR 895 million), and operating profit reached PLN 407 million (EUR 87 million). Adjusted for non-IFRS, the segment's operating profit rose by 4% to PLN 465 million (EUR 99 million). The sales of the Asseco Poland segment exceeded PLN 1.7 billion (EUR 371 million), up by 10% from a year earlier, and operating profit was 5% higher at PLN 275 million (EUR 59 million).

“Despite uncertain times, we continue to consistently pursue our strategy based on the development of proprietary software and related services, as well as strong geographic, sector and product diversification. 2022 was a record year for us both in terms of sales and net profit attributable to Asseco Poland’s shareholders. The international nature of our organization and its federated structure, which leaves a great deal of autonomy and freedom of action to individual companies, allow us to compete effectively on foreign markets while maintaining the local and flexible approach so necessary for our customers. In 2022 alone, 16 companies operating on the European, Israeli and American markets joined our Group. Since our IPO on the Warsaw Stock Exchange (WSE) in 2004, the number of our acquisitions has already reached nearly 130. This brings the Asseco Group today to nearly 33,000 employees in 60 countries on 6 continents" - said Adam Góral, President of the Management Board of Asseco Poland.

Asseco's consolidated order backlog for 2023 in variable FX rates, in the areas of proprietary software and services, is currently worth PLN 9.8 billion (EUR 2.1 billion). In fixed FX rates, in which the backlog for 2022 was converted, it amounts to PLN 10 billion (EUR 2.1 billion).

"The war in Ukraine has confirmed the importance of cyber security. As a provider of solutions for public institutions and companies, we have taken an active role in securing IT systems and helping our customers adapt their infrastructure and procedures to the new realities" - explains Adam Góral. "We also have huge ambitions and far-reaching plans when it comes to the cloud solutions market. We want to be actively involved in the construction of the European cloud computing, and the establishment of Asseco Cloud in 2021 is the first step in this direction. We continue to intensively promote the paperless concept, transferring our clients' analog processes to the digital space. We also work on artificial intelligence (AI) solutions. I believe that the growing popularity of AI tools is not a fad, but the direction of development of technology, which is intended to serve humans" - added Adam Góral.

Asseco has been consistently building value for its shareholders with whom it has been sharing earned profit. This year, the Company's Management Board recommended to the General Meeting of Shareholders that a dividend of PLN 291 million (EUR 62 million) be paid for 2022, which translates into PLN 3.50 per share (EUR 0,7) and represents 58% of consolidated net profit attributable to Asseco Poland’s shareholders.

* Non-IFRS figures include adjustments for: the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), and the revenues and costs resulting from the transactions of purchase and sales of companies (M&A) and one-off events (and tax effects associated with them).

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Asseco is the largest IT company in Poland and the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries around the world and employs nearly 33,000 people. It has been growing organically as well as through acquisitions. Asseco’s companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Krajowy Operator Chmury Medycznej (Chmura dla zdrowia), in cooperation with Asseco Poland, has released a new service - eSurveys. The solution allows clinics and doctors' offices to improve the quality of medical services. It makes it easy to conduct survey campaigns among patients and compile statistics. eSurveys make it easier to obtain necessary data from a patient before a visit, reduce service time and simplify treatment satisfaction surveys. In addition, they allow monitoring the degree of execution of therapeutic programs billed by the National Health Fund (NFZ).

eSurvey make it possible to define and manage survey templates, facilitate survey campaigns among patients and enable statistical analysis of responses. The service is available to users of the Asseco mMedica system, which is used by thousands of health care units. Patients receive access to a survey by e-mail or directly from the eRegistration portal. They can fill it out on any device such as a smartphone, computer or tablet.

A well-conducted medical survey is the basis of every doctor's work. Based on the information obtained from a patient and a patient's medical history, a doctor diagnoses and decisions. That is why it is so important that they can quickly and easily obtain this information. Our new eSurvey service, available to mMedica system users, enables that. Properly asked questions, which a patient answers before a visit, give a doctor more time during a visit, says Szymon Chamuczyński, Director of the Mass Products Department in the Health Division of Asseco Poland.

The eSurvey mechanism can also be used when conducting preventive programs. On the one hand, surveys become a source of information for patients, and on the other hand, they allow us to collect data about their participation in a given program and learn from their responses, adds Marcin Płaczek, Operations Director, Krajowy Operator Chmury Medycznej, from the Asseco Group. eSurveys also provide an opportunity to conduct surveys of patient satisfaction and needs, that support the process of improving the quality of medical services and create opportunities to increase the competitiveness of a given clinic or doctor's office, he concludes.

The eSurveys solution provides a simple and convenient registration process for the service and guarantees the security and protection of patient data. Integration with the mMedica software allows viewing survey information directly from an office visit window and including them in a patient's medical records.

For more information on the eSurvey service, please see:

https://mmedica.asseco.pl/moduly-dodatkowe/eankiety/

https://chmuradlazdrowia.pl/eankiety/

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Asseco is a leader in the market of IT solutions for healthcare and a producer of proprietary IT solutions used by more than 400 hospitals in Poland, around 40% of outpatient clinics and doctors' offices, as well as units of the National Health Fund, blood donation and haemotherapy centers and health resorts. Asseco's product portfolio includes a comprehensive IT system for large and mid-sized medical entities - Asseco Medical Management Solutions (AMMS), a solution for mid-sized and small organizations and individual medical practices - mMedica, as well as mobile applications for patients, including: Home First Aid Kit, Medical Information and My Measurements. Together with Operator Chmury Krajowej, Asseco has created the Krajowy Operator Chmury Medycznej company. Its goal is to support the digitization of healthcare and enable medical units to provide e-Services, including the creation and management of an EMD repository.

The introduction of a registered electronic delivery is another step on the road to the digitization and reduction of paper documents. e-Delivery will enable companies and individuals to send registered letters with the acknowledgment of a receipt in a digital form. The legal effect of sending correspondence electronically will be equivalent to the traditional delivery of paper documents. In addition to Poczta Polska, qualified e-Delivery solutions are also offered by commercial companies, including Asseco Data Systems.

According to the government's announcements, e-Delivery will be the primary and, for many entities, mandatory way to communicate with the public administration. The implementation process will be spread over time, but starting in 2024, all public entities (government administration, state control and law protection bodies as well as budget units serving them, the National Health Fund - NFZ, the Social Insurance Fund - ZUS, the Farmers' Social Security Fund - KRUS, universities, the Polish Academy of Sciences, local government units and their unions), as well as representatives of public trust professions and business entities corresponding with them will be obliged to implement e-Deliveries. Only already registered sole proprietorships can benefit from the vacatio legis until 2026. The absolute exception is the Justice Department, which will not have to fulfill this obligation until 2029.

Much more than "secure email"

In order to use the e-Delivery service, both companies and individuals will receive a unique electronic delivery address assigned by the Minister of Digitization. It will consist of 36 characters linked to the entity that owns it. Information about the assigned address is stored in the Electronic Address Database (BAE).

An e-Delivery address is sometimes mistakenly associated with an e-mail address. Meanwhile,  e-Delivery is a much more advanced solution with additional features and higher security. Among other things, it allows one to determine who is the sender, who is the recipient, and the identity of both parties is confirmed. In addition, the legal effect of a delivery via Registered Electronic Delivery service cannot be challenged, which means it can be used as evidence in legal proceedings. The sending process is carried out with confidentiality of information, and the date and time of sending or receiving the delivery is legally confirmed.

e-Delivery in dealing with administration, business and customers

Both a legal entity (company) and an individual will be able to set up an e-Delivery box from Asseco Data Systems. The service offered by Asseco Data Systems can be tailored to the individual needs of an organization and allows for an integration with corporate solutions, such as office or document circulation systems. It makes it possible to exchange correspondence with each party: public administration, individuals, companies.

"E-Delivery is a service that has been lacking on the Polish market. This solution will make it much easier and faster not only to conduct business, but also to deal with everyday matters. Sending correspondence will no longer depend on the working hours of post offices and its security will be much higher, as third-party interference will be completely excluded. In addition, all correspondence is available in one place with proof of posting, execution and delivery. This will be of particular importance in case of any disputes" - said Paweł Wojtaszyk, Product Manager at Asseco Data Systems. "E-Delivery is the last missing trust service defined at the EU level. This market is forming just as we speak. As a provider, we are hoping to build such a market for electronic delivery, where the synergy of public and commercial providers will encourage recipients to make extensive use of e-Delivery throughout the European Union" - he added.

According to the Asseco expert, eventually, the address for electronic delivery will be used in every administrative and judicial procedure. Public administration bodies will send all correspondence this way. If a citizen does not have an electronic delivery address, offices will use a hybrid service, that is, they will send documents electronically, which will be printed and delivered in paper form as well.

Allegro doesn't need to be introduced to anyone in Poland - it's the leader in domestic e-commerce, which is now expanding its model internationally. With Allegro Pay on the platform, it is possible to make purchases with deferred payments of up to 30 days, as well as to spread them over convenient monthly repayments. The decision to allocate funds for purchases is made even in less than a minute, thanks in part to the support of Asseco Poland, the largest IT company in the region.

The Asseco system processes all contracts made through Allegro Pay. Implemented by Allegro in 2020, the buy-now-pay-later service has been steadily gaining popularity. The number of Allegro Pay customers has already surpassed 1 million, and in the third quarter of 2022 alone, loans of PLN 1.4 billion were granted through it, up 156 percent year-on-year.

Core System as a Service

An important component of Allegro Pay is the Asseco Core Banking Solution platform, bringing ready-made solutions proven successful in the banking area and taking into account Allegro's accounting schemes. Asseco, Allegro Pay's technology partner, has provided not only computing power and relevant software, but also a team of specialists to support operations 24/7. The service is provided according to the Software as a Service (SaaS) model, developed for the needs of financial institutions, where payment is made in a subscription model.

"We are able to process 50 contracts per second. On average, this is 10 million documents per month. Among other things, the Asseco system prepares the repayment schedule, calculates and books interest, records loan disbursement, handles repayment settlement, calculates arrears, or processes booking postings. Importantly, the seller receives the entire amount right away and does not have to wait for subsequent installments paid by the buyer," explains Bartłomiej Bartosiewicz, Business Development Director at Asseco Poland. "In financial services, information security is very important. Asseco does not store any Allegro user data within its own data center infrastructure," he adds.

"Cooperation between two Polish technology companies operating internationally should be something natural," says Jakub Kachlicki, Director of Financial Services Technology at Allegro Group. "The choice of Asseco was determined by the readiness and functional maturity of the solution. It gives us the opportunity to shorten the time from idea to service launch with a reasonable level of involvement on our side in the development of the standard part of the financial product and related processes."

Further growth on the horizon

BNPL (Buy Now Pay Later) services are not only convenient for customers, but also allow merchants to attract new groups of consumers and e-commerce platforms to increase the number of transactions. According to the "Koszyk Roku 2022" report, almost 75 percent of the largest e-commerce sites offer deferred payments. Allegro experts have no doubt that the growth of BNPL payments is a clear trend in the e-commerce industry.

Asseco was ranked 5th in the "National Champions" list prepared by Polityka Insight. This is a listing of the largest Polish companies of key importance to the economy. At the same time, the company was ranked 3rd in the five-year ranking, which summarizes the results of all editions.

In addition to its high position in the main ranking, Asseco was also among the top companies in the various categories of the list. The Asseco Group is the leader in the "International" category, where it was the only one to achieve the maximum possible score. The justification emphasized that Asseco is the most rapidly growing company in the international market. The company also ranked 1st in the "Professional Services" category and 3rd in the "Economy" category, which reflects the organization's contribution to Poland's economic development.

For the past five years, we have been compiling a ranking of the largest Polish companies of key importance to the economy. Most rankings of companies compiled in Poland focus exclusively on the size of a company or capital group as measured by basic macroeconomic indicators - revenues, profit, exports or employment. However, this is only one of the dimensions emphasized in Polish public discourse about national champions. In addition to the size of companies, their productivity, role in the industry, presence on the international market or investment in development and innovation are also important. This time around, we take a particularly close look at how the role of Polish national champions in ensuring the security of the state has changed. The state is unable to replace them, and should therefore support them, said Adam Czerniak, Research Director of Polityka Insight and co-author of the report "National Champions 2022: How they take care of our security”.

The list of winners was published in the report "National Champions 2022: How they take care of our security," which was premiered during a conference on the subject. One of the experts who took part in the event was Krzysztof Dyki, CEO of ComCERT, an Asseco Group company. According to him, the technology industry should be developed on a par with other strategic branches of the Polish economy.

I don't see any reason why Poland couldn’t play the role of Israel. We have equally brilliant engineers. There is no problem for us to be manufacturers of cyber security technology, said Krzysztof Dyki. At the same time, he drew attention to the issue of investment, which is an essential element in the development of cyber security. When it comes to investments, we have a great deal to do. The level of investment determines the level of security, he concluded.