Albanian Avant-garde: Process Automation and More Discussed by the Working Group

MFC assisted in organizing the second National Working Group meeting in Albania. Its subject was Digitalization of MFI-s: Operational, Data Sharing and Cyber Security Framework. Here comes the summary provided by Albanian Microfinance Association.

In collaboration with the Microfinance Center (MFC) and with the financial support of the European Union in the framework of EaSi Program, the Albanian Microfinance Association (AMA) held its second roundtable on a series of discussions on the topic: “Microfinance of Tomorrow, Digitalization of Microfinance Institutions” on November 6th.

The meeting, attended by representatives of microfinance institutions, Albanian regulatory bodies,  focused on the operational framework of data exchange and cyber security, closely linked to the process of digital transformation of microfinance institutions. In the context of global developments in the field of digitalization of financial services, and with the aim of providing the Albanian consumer with high quality innovative services, the member financial institutions of the Albanian Microfinance Association are intensifying their efforts to be not only one step ahead with other sectors of financial services delivery in the country, but why not, their vanguard.

The discussion was about the challenges that Microfinance Institutions face in creating a fully digital process of delivering products and services, regarding the integration with public and private platforms with the aim of automating lending processes, designing and creating automated decision making tools, the use of digital platforms for collecting credit installment payments through them (so-called e-wallets), as well as the practical execution of remote transactions via electronic signature. The AMA members developed several action points to address those issues.

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