PKO Bank Polski Relies on DXC Technology to Make Paying for Parking Easier

Rhea-AI Summary

DXC Technology is collaborating with PKO Bank Polski to introduce a new feature in the IKO mobile banking app, enabling in-vehicle parking payments through the infotainment dashboard. This innovation, compatible with Android Auto technology, allows drivers to manage parking sessions across Poland, making payments faster and more accessible. The IKO app, launched in 2013 in partnership with DXC, now boasts over 8 million users and offers more than 100 functionalities, including account management, transfers, and various payment services.

Robert Taras, Account Delivery Leader for DXC Technology Poland, highlighted the company's long-standing partnership with PKO Bank Polski and their commitment to providing comprehensive and personalized financial services through digital innovations.

Positive

• Collaboration with Poland's largest bank, PKO Bank Polski
• Introduction of innovative in-vehicle parking payment feature
• IKO app has over 8 million users
• App offers more than 100 functionalities

Negative

• None.

Insights

Financial Technology Analyst

PKO Bank Polski's integration of parking payment functionality into its IKO mobile app represents a significant advancement in digital banking services. This move aligns with the global trend of financial institutions expanding their digital ecosystems to enhance customer convenience and engagement.

The collaboration with DXC Technology demonstrates PKO's commitment to technological innovation and could potentially increase user retention and transaction volumes. With 8 million users, even a small increase in app usage could translate to substantial revenue growth. However, the impact on PKO's bottom line may be in the short term, as parking payments typically involve small transaction amounts.

From an investor's perspective, this development showcases PKO's ability to leverage partnerships for innovation, potentially positioning the bank for future growth in the competitive fintech landscape. The expansion of services into vehicle-based transactions could open doors for additional revenue streams and partnerships in the automotive sector.

Market Research Analyst

The introduction of in-vehicle parking payment functionality by PKO Bank Polski taps into the growing trend of connected car services. This move could significantly enhance user experience and potentially increase market share in the competitive Polish banking sector.

With over 100 functionalities already available in the IKO app, PKO is demonstrating its commitment to comprehensive digital banking solutions. This diversification of services could lead to increased customer loyalty and potentially attract new users, especially tech-savvy younger demographics.

However, the success of this feature will largely depend on the adoption rate of compatible vehicles in Poland. Investors should monitor the penetration of Android Auto-enabled vehicles in the Polish market to gauge the potential reach and impact of this new functionality. While innovative, the overall financial impact may be gradual rather than immediate.

Mobile App with 8 Million Users at Poland's Largest Bank Brings Digital Personalized Banking Services to Cars

WARSAW, Poland, Sept. 4, 2024 /PRNewswire/ - DXC Technology, a leading Fortune 500 global technology services provider, is working with PKO Bank Polski, the largest bank in Poland, to deliver a new functionality in its mobile banking app called IKO, where Polish users can quickly pay for parking from the comfort of their own vehicle.

The solution, one of the first of its kind available in Poland, allows drivers to pay for parking through the in-vehicle infotainment dashboard once the system is linked to the app.

Drivers who use PKO's app and have compatible vehicles will be able to manage activity, including starting and ending sessions at locations across Poland, as part of a new functionality which will enhance driver accessibility to parking payments. It will make payments faster and easier to complete. 

The innovation can be used with Android Auto in-vehicle technology starting from Android 8.

"We have built a long and successful partnership with PKO Bank Polski having worked with them on several important innovations over the last decade. We're excited to extend this relationship and use our deep engineering and consulting expertise to bring new functionalities to the IKO app," said Robert Taras, Account Delivery Leader for DXC Technology Poland. "By enabling PKO's customers with new digital options for payments, we are taking another step forward to provide even more comprehensive and personalized financial services."

PKO launched its IKO mobile application in 2013 in partnership with DXC and now has over eight million users in Poland. The app has over 100 functionalities including: checking account balance and history; making bank transfers; credit card repayment; deposit and top-up pre-paid phones; split payment transfers; contactless BLIK; PKO 'buy now pay later' deferred payment service; paying for highways; purchasing transport tickets; opening account using 'selfie'; and online currency exchange.

Forward Looking Statements

All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements." These statements represent current expectations and beliefs, and no assurance can be given that any result, goal or plan set forth in any forward-looking statement can or will be achieved. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control. For a written description of these factors, see the section titled "Risk Factors" in DXC's Annual Report on Form 10-K for the fiscal year ended March 31, 2024, and any updating information in subsequent SEC filings. Readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, except as required by law.

About DXC Technology

DXC Technology (NYSE: DXC) helps global companies run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The world's largest companies and public sector organizations trust DXC to deploy services to drive new levels of performance, competitiveness, and customer experience across their IT estates. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.

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SOURCE DXC Technology Company

FAQ

What new feature is DXC Technology implementing for PKO Bank Polski's IKO app?

DXC Technology is implementing an in-vehicle parking payment feature for PKO Bank Polski's IKO mobile banking app, allowing users to pay for parking through their vehicle's infotainment dashboard.

How many users does PKO Bank Polski's IKO app have as of September 2024?

As of September 2024, PKO Bank Polski's IKO mobile banking app has over 8 million users in Poland.

What technology is required for the new in-vehicle parking payment feature in PKO's IKO app?

The new in-vehicle parking payment feature in PKO's IKO app is compatible with Android Auto in-vehicle technology, starting from Android 8.

When was PKO Bank Polski's IKO mobile app launched?

PKO Bank Polski's IKO mobile application was launched in 2013 in partnership with DXC Technology.