orkida ilollari

Mobile banking is relatively a new service offered by banks around the world. Banks are obliged to keep investing in new technologies as otherwise, they would lose competitiveness and market share. It is interesting to know how clients react to these innovation efforts. This study aims to understand the client’s responses to bank innovation, especially to mobile banking technology in Albania. An online experiment is conceived based on Experimental Design Principles. Participants evaluate combinations of messages (elements) about mobile banking and rate each combination. The collected data are used to create individual models and later a general model to calculate the statistical relevance of each of the messages. The models use ordinary least squares regression and advanced data mining techniques (k—means clustering) to analyze the data and classify participants accordingly. At the end of the analyses, a set of two or three mindsets are depicted to show what pushes participants in t...

This study focuses on the much debatable issue of customer satisfaction (quality matching expectations) in the banking system, as for banks are the main actors of the Albanian financial system. In fact, the customer satisfaction in the banking sector is an important criterion for customer to differentiate and build their loyalty toward the bank, consequently increasing the odds for loyal customers towards more than a service of the bank. Previous studies and research suggest that consumer perceptions and their expectations are likely to differ as per their customer satisfaction. This particular study examines implications related to bank’s customers satisfaction for Albanian banks which for study purpose are grouped in two different clusters based on the origin of shareholder’s capital. Satisfied customers are an important advantage for any business likewise banks. The difference is made by customer satisfaction and loyalty created through some components on the behavior of bankers ...

This study is an attempt to look onto the hypothesis, forecasts and questions that are now at the center of the economic world debates on ensuring financial stablity. The purpose of this study is to give a contribution in improving the use of the macroprudential instruments and the real impact they have on the economy. This study aims to collect and analyse data in assessing the performance of the macroprudential instruments, to create institutional regulations in regards to monetary policy and to make a prediction about the right moment when these instruments should be activated. It may be possible that crises are less costly for the economy and achieve the financial stability. These macroprudential instruments, adapted acording the characteristics of each country, may be able to utilise all the appropriate means to contain the systemic risk. The main focus of this study is to analyse the monetary policies and the macroprudential instruments used by central banks as the supervisory...

With the latest technology developments, there is a pressure for the banks to keep up-to-date. One of the main reasons that makes this change necessary is the fast growing innovation in the international market, which increases the competition. The demand is rapidly growing from the market and the customers to innovate and invest in technology. The way that the banks innovate is by investing in better products and services that they offer to the customers. This investment is beneficial for both. On one hand, the banks benefit because of the automated services that become available and on the other hand is beneficial for the customers because they have improved services and can access their account 24/7 even out of the banks working hours. But, how do banks manage to keep their competitive advantage regardless of the rapid changes in technology and the customers’ demands? How is that possible and how do they achieve that? Beside implementing the new technology and services the banks ...

The systemic risk is a risk that affects the whole market and not just a particular industry. It is also known as “volatility” or “market risk”. This type of risk cannot be predicted and entirely avoided. There are needed the right asset allocation strategies to mitigate it. The last financial crisis pointed out that there is the need to use well-defined macro-prudential policies and instruments to overcome it. The economic crisis has occurred 85 times in the world and the experience has shown that the policy makers need to review and take regulatory measures which need to be taken based on the situation. The main reason that these financial crises should be prevented is strongly related to the financial and social costs that it causes to the society and the financial institutions. One of the most important regulatory tools used is the macro-prudential regulation consists in narrowing this gap, imposing the banks to take on higher risks during difficult periods to ensure the credit ...

This study aims to understand what Albanians think about the tourism business and the likely impact of Covid-19 on tourism in Albania. A Mind Genomics-based cartography assessed the different aspects of tourism, with a response from 4800 people out of 7000 invited. Mind Genomics is a new science based on regression models, data mining and clustering techniques. Only 38% of Albanians are optimistic about summer vacations. Two mindsets of Albanian respondents emerged from the study. Around 52.5% of participants belong to the pessimistic mindset about having vacations at all. The remainder, 47.5% of participants belong to the “cautious” group; they would wait for a “reasonable” offer to decide

'For many institutions, Internet is a dilemma. Embrace it and still will find yourself losing ground in your business or at least, can see your earnings falter. But ignoring it can be fatal' (The Economist) New technologies are changing the functionality of society and its various components: from one person to multinational companies. We are facing a complete change of paradigm not in vertical type, which belongs to a single sector, but the indirect type. If in the first case it is essential to jump on the train of the new technology, in the case of indirect paradigm that is obvious and inevitable, and this is what is happening in the time frame1. Initially it seemed that computers and technology would support only a way of living and working in industrial societies, rather than a modifier factor. In fact, company computers were used only to speed through office automation and to eliminate the large amount of paper documents. For many years it was thought that technology was only a useful tool to support the traditional, not understanding that represented a great opportunity to expand. Obviously, in this revolution are included banks in Albania, which from living a period of stability since 1992, are now facing a new world with more competition, more dynamics and more flexibility. We should not be surprised that in such cases the banks can be found weak, but there is not enough time to recover, it is precisely in these moments that plan strategies should be done which will define the future, "Customer oriented". The real cause of this debacle can be summarized in a letter: 'E', i.e., Electronic. A very simple way to verify the impact of new technologies, in our case the banking system, is to see the large number of words that have been born and was preceded by the prefix 'e': e-banking, e-trade, e -Business. In fact, no new words are born, these terms are common in the traditional financial world who added the letter 'e' as to emphasize a 'new way', a new world: the world of the New Economy. We can draw a line (hypothetically speaking) eline to distinguish the two worlds. On the one hand, there are the typical traditional businesses which dominate the contributions to 'physical' processes (slow and without flexibility) where products are placed by type 'push'. And on the other hand are businesses built by communication networks characterized by a pronounced innovation, the speed and flexibility of processes and products are placed by type 'pull'. Also, for the bank to win or lose customers is faster than in the past, the products are levied by type 'pull'. In this new way of acting, the client is in the center of the bank and consistently pursued from the policy of Customer Relationship Marketing. So, it is important to understand the characteristics of this new financial world, and thus define policies and strategies to adapt the structure of the bank in its entirety, but with special care not to see these changes as an actual trend but as the foundations to build the bank of the future. Banks should be seen today in this perspective.

As most of the countries around the world, even in Eastern Europe it became necessary to implement the policy and macro-prudential instruments. The measures adopted by the authorities varied and they consisted in controlling the banks’ loans issued in the foreign currency. Foreign currency lending was the main feature which was strengthened even more during the credit boom of the past decade. The policymakers in the region were clear about the need for development of the capital markets in local currency, in such a way that banks were to shrink for foreign currency funding and long-term maturities. It is obvious that macro-prudential instruments and policies varied amongst countries. This is due to the fact that each country has different problems of the macroeconomic nature and in the financial system. According to the report of IMF (2011b) when applying macro-prudential instruments should be noted that the same measures are not equally effective in all countries where they are a...