Cash still dominates in the Western Balkans, and digital banks are almost entirely absent. But as a sign of change, all businesses in Albania must start accepting electronic payments by the end of 2026.

https://p.dw.com/p/5BzKj

Fatbardha Rino is a trailblazer in the Western Balkans as the founder and CEO of Jet Bank, Albania's first fully digital bank that runs entirely through a mobile app.

Launched without physical branches, the bank reflects major technological changes in Albania's banking sector and aligns with government efforts to promote cashless payments nationwide by the end of the year.

Despite resistance from many consumers and small businesses, digital banking is seen as crucial to tackling the country's large shadow economy and money laundering risks.

With EU accession targeted for 2030, Albania is accelerating financial sector reforms. Jet Bank could play a big role in this transformation, but its success will depend on building trust in digital payments among a population tied to cash.

This video summary was created by AI from the original DW script. It was edited by a journalist before publication.

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