Rovena Troplini – Aleksandër Moisiu University, Durrës, Albania
Ikbale Tota – Aleksandër Moisiu University, Durrës, Albania
Merjemë Zyko – Durrës, Albania
7th International Scientific-Business Conference – LIMEN 2021 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – CONFERENCE PROCEEDINGS, Online/virtual, December 16, 2021, published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-54-7, ISSN 2683-6149, DOI: https://doi.org/10.31410/LIMEN.2021
Technological development has played an integral role in the transformation and progress of the financial sector. Reductions in time, costs, efficiency, are some of the opportunities that the Fintech sector stimulates. In this paper we will examine the advantages of technology integration in finance and FinTech’s interaction with other sectors such as banking but also the risks it carries. We will analyze Fintech implementation in Albania market and the challenges faced for development.
If we take into consideration how quickly the economic, social, cultural and natural conditions are changing, of course finding, applying and developing new alternatives is the right solution. FinTech is therefore seen as the future of the financial sector.
In conclusion, Albania as a developing economy and unknown with new technologies, regardless of all the difficulties, is open to innovations and can be seen as a new market for the development of FinTechs.
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