FinTech: Should We Accelerate Their Development?
FinTech: Should We Accelerate Their Development?

Author(s): Rovena Troplini, Ikbale Tota, Merjemë Zyko
Subject(s): Social Sciences, Economy
Published by: Udruženje ekonomista i menadžera Balkana
Summary/Abstract: Technological development has played an integral role in the transformation and progress of the fnancial sector. Reductions in time, costs, efciency, are some of the opportunities that the Fintech sector stimulates. In this paper we will examine the advantages of technology integration in fnance 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 fnding, applying and developing new alternatives is the right solution. FinTech is therefore seen as the future of the fnancial sector. In conclusion, Albania as a developing economy and unknown with new technologies, regardless of all the difculties, is open to innovations and can be seen as a new market for the development of FinTechs.

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