Albania is set to welcome its first fully digital bank, Jet Bank — a bank built around customer needs and supported by security infrastructure powered by some of the world’s most trusted global platforms. Jet Bank aims to contribute to greater financial inclusion and to offer a new alternative within the Albanian banking system, operating primarily through a mobile application.

Customer onboarding will be fully digital, secure, and compliant with legal, regulatory, and European standards. The bank’s core banking system is built on Oracle Banking Services, a platform widely used by international banking institutions, ensuring stability, data integrity, and operational continuity. Jet Bank’s entry into the Albanian market is the result of long-term analysis of financial sector developments, but above all of close observation of real customer needs and existing service gaps.

In an interview with Monitor, Fatbardha Rino, CEO of Jet Bank — which has recently received its preliminary license from the Bank of Albania — explains the operating model of a 100% digital bank, its target market, ownership structure, and the key differences compared to traditional banks.

Fatbardha Rino is a financial services professional with over 24 years of experience in banking, having worked with leading banks both in Albania and abroad. Throughout her career, she has consistently pursued the next stage of development — where banking meets technology — actively contributing to major transformations in both the domestic and international financial markets.

As Ms. Rino explains, the decision to build a digital bank in Albania was not driven by technological trends, nor by the intention to replace branches or traditional banks. Instead, it emerged from a long-term assessment of financial system developments and, more importantly, from first-hand observation of unmet customer needs. The objective is to address concrete challenges: lengthy processes, complex products, limited access, and customer experiences that are often not designed around the individual.

“Albania is currently at a pivotal stage of development. Digitalization is a national priority, while reforms aimed at economic formalization, transparency, and alignment with European standards have significantly increased international confidence in investing in the country. This international attention is not coincidental, but a reflection of concrete steps Albania is taking toward a more European economy,” she emphasizes, adding that it was within this context that Jet Bank was conceived as a fully digital bank.

Regarding the launch timeline, the CEO explains that Jet Bank will begin operations only after the full completion of all regulatory and certification processes, as well as the detailed testing phase of its systems.

“The licensing process for a bank is structured and time-intensive, involving extensive technical, operational, organizational, and security verifications. Legally, this process may take up to 12 months and is designed to ensure that every element of the bank is fully sustainable before being offered to the public. We are currently in a very important preparatory phase, where every operational component is being tested and certified in detail, in close cooperation with the supervisory authority. This process is essential to guarantee customer security, operational stability, and full regulatory compliance,” Ms. Rino explains.

But how will this digital bank operate, and how secure will it be?

“Jet Bank will operate as a 100% digital bank, primarily through its mobile application. Customer onboarding will be entirely digital, secure, and compliant with legal, regulatory, and European standards. The bank’s core banking system is built on Oracle Banking Services, ensuring stability, data integrity, and operational continuity. The user experience and digital interaction are powered by Backbase, while process automation and integrations are supported by Facilization. Customer identification and verification are conducted through Jumio, while risk monitoring, AML, and regulatory compliance are ensured through ComplyAdvantage.

The technological infrastructure is built on leading global platforms, combining Oracle Cloud Infrastructure, Microsoft Azure, and Amazon Web Services, while security is further strengthened through dedicated Palo Alto firewalls.”

Customer data will be stored within the European Union, in full compliance with Albanian legislation and the strictest EU data protection regulations. “Until we are confident that all these components are stable, secure, and fully certified, the necessary time must be taken,” Ms. Rino notes.

The key difference between a fully digital bank and a traditional one lies in the fact that Jet Bank has been built digital from the ground up. This means that processes, systems, and operational models have not been adapted from existing structures but have been designed from the outset for a branchless bank with predominantly digital interaction.

“We do not have legacy systems or inherited manual processes from traditional models. Unnecessary processes have been eliminated, while essential ones have been automated, allowing technology to handle volume and routine, and enabling people to focus on decision-making, oversight, and customer relationships.”

At the same time, Jet Bank is building a strong organizational structure, including functional leadership and a dedicated Customer Service Centre, with teams specifically trained to manage complex cases and provide continuous customer support. This combination of technology and human responsibility ensures efficiency, flexibility, and the same regulatory rigor, security levels, and control standards as traditional banks.

Speaking about the ownership structure, Ms. Rino explains that Jet Bank is owned by JET Holding, a consortium of international companies headquartered in Amsterdam. Ownership is structured through investment entities with identified ultimate beneficial owners (UBOs), in full compliance with legal and regulatory requirements. Mr. Idan Avishai, a British national, is one of the key investors and contributed during the early stages of the project, but he is neither the sole shareholder nor the sole representative of the bank’s ownership.

Jet Bank is currently undergoing the regulatory approval process with the Bank of Albania, which includes the approval of governance structures, management bodies, and the organizational model. Only after the completion of this process will the bank be formally registered and begin operations. All shareholders and ultimate beneficial owners have passed the rigorous “fit & proper” assessment, fully aligned with Albanian law and European standards.

Jet Bank has been conceived and is being built by a local professional team and will operate under the full supervision of the Bank of Albania, concludes the CEO of Jet Bank.