iute Albania at the IFC workshop: Digital Services and Integrated Finance

On March 31, 2026, iute Albania was part of the dedicated workshop on e-KYC and e-signature, “Digital Financial Services and Embedded Finance”, organized by the International Finance Corporation (IFC), in partnership with the State Secretariat for Economic Affairs (SECO), the Albanian Association of Banks and the Albanian Association of Microfinance, with the aim of increasing cooperation to support members’ efforts towards digitalization.

During the workshop, IFC presented a recent study that highlights developments in the field of electronic customer identification (e-KYC) and the use of electronic signatures in Albania, showing steady progress, but also significant structural and regulatory challenges.

The study, conducted in October 2025 on banking and non-banking financial institutions, shows that the adoption of e-KYC remains uneven. While banks are treading more cautiously, bringing an overall adoption rate of just 55%, fintech institutions lead the way with around 80% usage.

Biometric verification is now standard across most fintech institutions, while digital identity databases are used by around 75% of them. However, wider integration, particularly with state databases such as e-Albania, remains limited due to lack of access. In terms of signature, qualified electronic signatures (QES) dominate with 47%, reflecting their reliability.

The workshop highlighted that electronic signatures, from simple to qualified, are transforming digital transactions in the financial sector, noting that a risk-based approach is more important than a rigid hierarchy.

The presented report explained that signing is not just a formality, but a process that ensures the identity, purpose and integrity of the document. This concept of functional equivalence is the basis of modern regulations, meaning that electronic signatures can have the same legal effect as handwritten ones, when these functions are fulfilled.

iute actively contributed its perspective during the workshop and engaged in key discussions with the General Directorate for the Prevention of Money Laundering (AFIU) and the National Authority for Cybersecurity, emphasizing the importance of the adoption of the new draft law “On Electronic Identification, Trust Services and Digital Identity Portfolio”.

One of the most significant achievements in iute is precisely the integration of the QES qualified electronic signature through Evrotrust, which gives every digital contract the same legal value as a physical signature. This technology has been used for over 125 thousand contracts that iute customers have signed from their mobile phones, with 96.10% coverage, with the objective of reaching 98% in 2026. Meanwhile, thousands of citizens are also going through the digital registration process in the application, with the objective of exceeding the 50% limit in 2026.

The discussions also highlighted the need for continued support from the AFIU and the Bank of Albania to promote the recognition and adoption of electronic identification and electronic signatures by all market actors, as well as to ensure access to state databases such as e-Albania, with the aim of improving data quality and providing faster and more efficient processes for customers.