The third edition of The Fintech Future series: 2024 Fintech trends meets you with Incat, a fast-growing software development company and its co-founder and CEO, Piotr Hanusiak. 

Incat Sp. z o.o which has recently joined the BFA community, is an IT company specializing in developing and providing software systems and solutions for the financial and banking sector. Read more about the company and its CEO at the end of the article.

What, in your opinion, are the overarching trends we can expect to see in the fintech industry in 2024?

In 2024 the fintech industry is likely to be shaped by at least several key trends. First, increased regulatory harmonization across the EU will create a more unified fintech market, benefiting companies with cross-border operations. Bulgaria, aligning with EU directives, will see enhanced digital payment solutions and open banking initiatives. Second, although controversial, it is still attractive, the rise of blockchain and cryptocurrencies will continue, with more financial institutions adopting these technologies for secure and transparent transactions. Bulgaria’s growing tech sector will play a significant role in this adoption. Third, AI and machine learning will be increasingly utilized for personalized financial services and improved risk management. Lastly, sustainability and green finance will gain momentum, with fintech companies developing solutions to support environmental goals. These trends, driven by technological advancements and regulatory changes, will significantly influence the fintech landscape in Bulgaria and the broader EU region.

As an IT company, how do you think AI will further be incorporated in software development? Are there any risks related to security and data privacy that should be considered? 

At INCAT, we foresee AI being increasingly integrated into software development, particularly in automating repetitive tasks, enhancing code quality through intelligent debugging, and predicting software outcomes. I simply believe that AI-driven development tools can significantly reduce time-to-market and improve efficiency.

Using AI to handle financial processes is at least as tempting as its use in intelligent automation to create IT solutions. However, in my opinion, this integration raises pertinent concerns regarding security and data privacy. AI systems require extensive data, and the way this data is collected, processed, and stored poses privacy risks. Moreover, AI algorithms, if not properly secured, can become targets for cyberattacks, leading to potential data breaches. I don’t think I need to explain how great a threat this is, especially in fintech or the entire finance area.

Certainly, to mitigate these risks, it’s crucial to implement robust data governance policies, ensuring data is anonymized and encrypted. Additionally, AI systems should be designed with security in mind, incorporating features like intrusion detection and regular updates to safeguard against evolving cyber threats. Ethical considerations and compliance with data protection regulations like GDPR must also be at the forefront of AI integration in software development.

What challenges and opportunities do you foresee in the IT sector in Bulgaria for 2024?

We have been present on the Bulgarian market for a relatively short time, but we have already noticed many opportunities for entrepreneurs as well as threats that companies must be especially careful about.

I believe in 2024 in Bulgaria, a significant challenge will be the shortage of skilled IT professionals, which could hamper growth.

We also notice this phenomenon in other countries in Europe. Addressing this will require enhanced focus on education and training, as well as attracting talent from abroad. Another challenge is keeping pace with rapid technological advancements and global competition. In the opinion of many entrepreneurs from Western countries with whom I spoke with, Bulgaria is still a very attractive, fast-growing market worth paying attention to. In this context, it is worth mentioning companies such as fintech Mokka – a BNPL operator which, after dynamic development in Poland and Romania, started to invest in Bulgaria.

On the opportunity front, Bulgaria can capitalize on its growing reputation as a tech hub, with a favorable business climate and lower operational costs attracting foreign investment. Additionally, there’s potential in niche areas like cybersecurity, AI, and blockchain, where Bulgarian companies could develop specialized expertise. The ongoing digital transformation across industries also presents a vast opportunity for IT companies to provide innovative solutions. In this context, a good example would be one of our customers Payman Group, which thanks to its dynamic Bulgarian team, supported by Bulgarian management with international experience, can establish an innovative fintech from scratch in a short time. The market will soon be able to evaluate the achievements of this business and technological project. 

Balancing these challenges and opportunities, Bulgaria’s IT sector could significantly contribute to the country’s economic growth, positioning itself as a key player in the European tech landscape.

One question for our young audience: What skills and expertise do you believe will be crucial for professionals in the fintech industry in 2024?

I believe that for young professionals eyeing the fintech industry in 2024, a combination of technical and business skills will be crucial.

Technologically, a strong understanding of cloud area, AI, and data analytics will be indispensable due to their growing impact in fintech. Skills in front-end as well as back-end will also be highly valued. In this context, a good knowledge of various methods of integrating solutions (including open-source ones) available on the market will certainly be very valuable.

Equally important will be adaptability and continuous learning. The fintech landscape is rapidly evolving, so the ability to quickly adapt to new technologies, market challenges, and regulatory changes is key. Additionally, a strong grasp of business development and project management is necessary, given the industry’s increasing focus on the business side of the projects as well as investors’ desire for quick returns on their investments. 

Soft skills such as problem-solving, critical thinking, ability to change and effective communication will also be essential. These skills enable professionals to navigate complex projects, innovate, and articulate technical concepts to non-technical stakeholders. In essence, a blend of technical acumen and soft skills will be vital for success in the dynamic fintech sector of 2024.



Piotr Hanusiak is the Co-founder and CEO of INCAT Sp. z o.o. Before INCAT, Piotr was the General Director of Delivery and a Member of The Board at Innovation Technology Group SA – a Polish company focused on integrating IT solutions for multiple sectors; banking, utilities, and general business.

Before joining ITG, Piotr performed managerial roles in the banking division at Sygnity S.A. – one of the largest tech companies involved in software production.

Piotr has extensive experience in project portfolio management, software project management and IT Strategy. Piotr graduated from Commercial Banking, Market Policy, and Marketing Management.

Contact: [email protected]


INCAT Sp. z o.o. is a tech company providing modern IT solutions for the finance and banking industries. The company’s experts have over 20 years of experience in building banks and fintechs. INCAT’s software solutions are dedicated to fintechs digital banks, challenger banks as well as traditional financial institutions that are looking for the main IT engine of their financial activity. More:

About BOS

BOS is a microservices-based, modern, and fully scalable, Sharia-compliant transaction system, addressed to fintechs, neobanks, as well as traditional financial institutions. BOS, thanks to such functionalities as open API, allows for quick software implementation as well as easy integration with external systems.