Operation of Digital Banking Products in Albania

Abstract

The major aim of the paper is to assess the expansion of the digital banking products’ use and to analyze its driving factors like the level of trust in digital banking, the amount of knowledge needed to effectively use its products, the evolution of the customer relationship with the bank, and the new role of banks in the Albanian financial market. The analysis of these factors relies mainly on the identification of the economic motives for the group under observation, the psychological factors that condition their relationship with money, and the legal obligations to use bank payment tools. The study used the quantitative method. The data are collected through a questionnaire that is distributed to a carefully selected sample and contains questions that made it possible to carry out a factual, grounded, and consistent assessment. It contributes to highlighting the approach for increasing the use of digital banking products both among the young generation and the whole population. At the same time, this study provides commercial banks with beneficial information on the diversification and complementarity of the banking products, the new services that banks can offer to this group of the population, and their repositioning in the financial market of the future.