The Impact of Digitalization on Microfinance in Kosovo Performance
Session
Management Business and Economy
Description
Like global trends, Kosovo's financial sector is experiencing a significant transformation propelled by digital technology, advanced analytics, and innovative distribution channels. These changes not only open up substantial opportunities for financial institutions to maintain their market share but also to meet the ever-evolving needs of consumers. The potential impact of these advancements on the financial services sector in Kosovo, particularly the promising microfinance industry, is a topic of great interest. Financial institutions can effectively harness these innovations to enrich their service offerings and better cater to customer demands, painting a hopeful picture for the future of microfinance in Kosovo. The digital revolution in Kosovo's Financial industry is not solely about technology; it's about prioritizing and adapting to customer needs. Financial institutions are exploring new technologies to improve their services and strongly emphasizing customer-focused initiatives. These efforts, combined with the advancement of digital technology, are poised to create a prosperous future for Kosovo's financial industry and make customers feel valued and integral to the industry's progress. While the changes in the finance sector have been less noticeable in terms of governance and risk management processes, their importance should not be underestimated. Financial institutions have consistently adjusted their business strategies and organizational frameworks to adapt to the digital age. This study aims to evaluate Kosovo residents' awareness of Microfinance Institutions (MFIs) and their strong readiness to utilize these institutions' digital services, indicating a significant market potential. The adaptability of financial institutions in the face of digitalization is a testament to the industry's resilience, providing reassurance about its future.
Keywords:
Kosovo, Financial sector, Digital technology, Advanced analytics, Microfinance industry, Customer needs, Banking industry, Technology adoption, Governance, Risk management, Customer-focused initiatives.
Proceedings Editor
Edmond Hajrizi
ISBN
978-9951-982-15-3
Location
UBT Kampus, Lipjan
Start Date
25-10-2024 9:00 AM
End Date
27-10-2024 6:00 PM
DOI
10.3107/ubt-ic.2024.9
Recommended Citation
Vranovci, Shpresim, "The Impact of Digitalization on Microfinance in Kosovo Performance" (2024). UBT International Conference. 9.
https://knowledgecenter.ubt-uni.net/conference/2024UBTIC/MBE/9
The Impact of Digitalization on Microfinance in Kosovo Performance
UBT Kampus, Lipjan
Like global trends, Kosovo's financial sector is experiencing a significant transformation propelled by digital technology, advanced analytics, and innovative distribution channels. These changes not only open up substantial opportunities for financial institutions to maintain their market share but also to meet the ever-evolving needs of consumers. The potential impact of these advancements on the financial services sector in Kosovo, particularly the promising microfinance industry, is a topic of great interest. Financial institutions can effectively harness these innovations to enrich their service offerings and better cater to customer demands, painting a hopeful picture for the future of microfinance in Kosovo. The digital revolution in Kosovo's Financial industry is not solely about technology; it's about prioritizing and adapting to customer needs. Financial institutions are exploring new technologies to improve their services and strongly emphasizing customer-focused initiatives. These efforts, combined with the advancement of digital technology, are poised to create a prosperous future for Kosovo's financial industry and make customers feel valued and integral to the industry's progress. While the changes in the finance sector have been less noticeable in terms of governance and risk management processes, their importance should not be underestimated. Financial institutions have consistently adjusted their business strategies and organizational frameworks to adapt to the digital age. This study aims to evaluate Kosovo residents' awareness of Microfinance Institutions (MFIs) and their strong readiness to utilize these institutions' digital services, indicating a significant market potential. The adaptability of financial institutions in the face of digitalization is a testament to the industry's resilience, providing reassurance about its future.