How much have banks digitized credit services? - The scoring system would further increase lending for individuals and businesses
Credit services in banks and non-bank financial institutions are partially digitized. According to a survey carried out by the Investment Council, financial institutions have a moderate use of digitization for granting loans.
For banks, the use of digital tools has little impact on lending growth. They have expressed that the application of scoring, i.e. a digital system that assesses creditworthiness and determines the possibility of non-payment of loan obligations by the individual or business, would increase bank lending.
Digitization is widely accepted by businesses, with 8 out of 10 companies (81%) reporting the use of digital banking services as easy or very easy to use. Better customer support and education could further increase usage. Furthermore, 55% of companies believe that digitalization has significantly improved their relationship with the banking sector, leading to increased efficiency and faster access to banking services.
While companies see it as a key factor in improving efficiency, many banks remain cautious, pointing to the need for greater alignment between business needs and digital strategies of financial institutions.
On the other hand, microfinance institutions remain neutral regarding the impact of digitalization on credit growth. Even the use of digital services is low among them, with a use of technology only in the loan application process, i.e. through the online application, or the use of tablets by the staff. Technology is also used in credit scoring through quick access to information and building scoring systems.
Both banks and non-bank financial institutions aim to digitize more credit-related services in the future.
The price of cigarettes begins - Excise duty increases by 250 lek/kg, the government foresees a new taxation scheme
Cigarettes will cost more for smokers this year. Based on the excise calendar approved by the Ministry of Finance, the increase in the price of packages in......
How much are foreign currencies exchanged today?
The American dollar has registered a decrease in value this morning after it was bought today at 93.6 Lek and was sold at 94.6 Lek compared to......
Justin Trudeau resigns as Prime Minister of Canada!
Justin Trudeau resigned as Canada's prime minister on Monday amid a crisis in his government and low poll ratings. He has also resigned as party leader and......
The "Tirana Moons" installation is added to the capital - ALL 38 million fund for an innovative space
Tirana Municipality has announced the opening of the tender for the "Tirana Moons" installation. The estimated limit fund of this project is 38 million and......
19 million mail deliveries in 9 months - AKEP: Albanians used the postal service more in 2024
Albanians sent about 6.6 million objects by mail in the third quarter of 2024. Data from the Electronic and Postal Communications Authority show that......
Wind, Britain's main source of electricity - Makes up 29% of total generation. Gas, at the lowest level of the decade
The UK's wind turbines have overtaken gas plants for the first time as the country's number one source of electricity, although they are still a long way......
The Great Ring, opportunities are increasing, properties are becoming more expensive - Expert: Many individuals have invested earlier in the surrounding areas
Infrastructure improvement has a direct and significant impact on the development of surrounding properties. The opening of infrastructural works, as in the......
Gas reserves are depleting at a rapid pace - The interruption of Russian supplies threatens the stability of the European market
Europe is using up gas reserves at the fastest pace in seven years as cold weather boosts heating needs, with temperatures expected to drop again this......
