TIRANA, June 14 /ATA/ The forum “Digitalization vs cash” was held on Tuesday in Tirana with the participation of Arben Ahmetaj, Deputy Prime Minister and Minister of State for Reconstruction and Reform Program, Gent Sejko, Governor of the Bank of Albania, Delina Ibrahimaj, Minister of Finance and Economy and Bledar Shella, president of the Albanian Banking Association.
The Governor of the BoA Sejko announced that “Bank of Albania has paved the way for a digital revolution in the payment market, through the legal and regulatory framework in force, which can be considered ahead of the curve in the context of European Union. ”
According to him, the concept of “open banking” means the creation of technological developments, in order for the information of bank customers to be available for third parties.
“The market is aware that digitalization is the future, not only as a result of the technological revolution that is evolving in every walk of life, but also from the point of view of their strategic development, in terms of minimizing the costs and risks incurred from streamline practices, and at the same time to increase effective productivity, ” Sejko said.
Referring to statistics, the Governor said that, “in 2012, about 96% of transfers were recorded on paper at bank counters, while today about 50% of transfers are processed remotely. If we include in the calculations card payments, it turns out that 79% of payments and transfers are made remotely and only 21% in bank affiliates. From this point of view, I judge that banks remain committed to accommodate the needs of the e-Albania platform, both in the existing conditions and after the launch of “open banking.”
Sejko assessed that the creation of a “central repository of biometric data of the population, which can be used as security elements in communication and remote authentication, is a very positive development for the digitalization of banking services.
On the part of banks and non-banks, they need to commit themselves to embracing all innovations set out in the law “On payment services.” Also, it is necessary to see and evaluate the possibilities of infrastructural developments foreseen in the strategy, which will bring an increased efficiency in the processing of payments and transfers, such as Instant Payments or the national SWITCH, ” Sejko said.
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