Roundtable: Open Banking and SEPA – An initiative for regional development in payments

28 October 2023

The Albanian Association of Banks (AAB), in cooperation with the Kosovo Banking Association (KBA), organized a discussion table on October 17, 2024, focusing on recent developments in digital banking and payment systems in the region. This event is part of joint initiatives aimed at improving digital infrastructure and enhancing financial inclusion. The gathering brought together experts and senior representatives from the banking sector and the Bank of Albania to discuss the implementation of Open Banking and the SEPA process.

The meeting opened with welcoming remarks from representatives of both AAB and KBA, who emphasized the significance of regional cooperation for the development and integration of payment systems. The discussions were structured into two sessions.

In the first session, participants were briefed on the legal and regulatory implementation of Open Banking in Albania, with a presentation by Mr. Deniz Deralla, Director of the Supervision Department at the Bank of Albania. Following this, Mrs. Irida Huta, Chairperson of the AAB Digitalization, Payments, and Alternative Channels Committee, shared insights into the practical challenges and experiences of Open Banking. She highlighted the crucial need to educate clients about this evolving process. Ms. Akile Cernobregu, Chairperson of the Payments Committee at the Kosovo Banking Association, also addressed the participants, providing an overview of the project’s current status in Kosovo.

The second session focused on SEPA and instant payments. Ms. Ledia Bregu, Director of the Payment Systems, Accounting, and Finance Department at the Bank of Albania, presented the progress made and future goals for SEPA implementation. The discussions highlighted the importance of SEPA in rationalization and accelerating interbank transactions across the region.

In conclusion, the participants agreed on the need to continue these collaborative efforts to foster experience sharing and enhance efficiency in regional payment systems.

GALLERY

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