May 9, 2023
Tirana Bank becomes a member of IFC’s DigiLab Acceleration Program

During the IFC Europe Forum on “Embracing Change”, organized in Dubrovnik, Croatia, the CEO of BALFIN Group, Edlira Muka, signed an agreement with the IFC on the membership of Tirana Bank in the DigiLab acceleration program. Through this agreement, Tirana Bank will benefit from IFC’s support in accelerating its digital transformation.

IFC’s DigiLab program will enable the preparation of Tirana Bank’s senior managers to accelerate the digital transformation of processes and services. The 13-week training with 20 participants from Tirana Bank’s team aims to provide financial institutions with a methodology and a work scheme that enables the participants themselves to build, throughout the program, a high-level digital transformation strategy.

DigiLab completed 3 training rounds with 12 graduated financial institutions from Europe and Central Asia. Tirana Bank, part of BALFIN Group, joins the 4th group, during which it will work with practical insight and tools to develop its digital strategy and adopt technological trends in order to better serve customers. The ultimate outcome of the acceleration project is for Tirana Bank to develop its digital transformation roadmap, as the first step in the latter’s development.

Read also: Embracing Change: BALFIN Group attends IFC’s Europe Forum in Croatia

IFC – a member of the World Bank Group – is the largest global development institution focused on the private sector in developing and developed countries. In 2018, it provided over $23 billion in long-term financing to businesses in the abovementioned countries, harnessing the power of the private sector to end extreme poverty and promote shared prosperity.

Tirana Bank is the first private bank in Albania, established in 1996. For several years now, the bank’s growth rate is higher than the Albanian banking sector’s average, where in the last year it reached the value of over €1 billion in assets. The DigiLab acceleration program poses an exciting opportunity for Tirana Bank, where digital transformation is of paramount importance, as part of BALFIN Group’s overall strategy and approach to innovation.