Albania is set to launch its first digital-only bank in the near future, a step expected to accelerate the country’s broader push towards online financial services and digitalisation. In an interview with bne IntelliNews, Dimitris Petrilis, sales director for Central Eastern Europe at Backbase, which is partnering with Jet Bank to deliver a fully app-based banking experience, said the aim was to get the first mover's advantage. 

Jet Bank will operate without physical branches, offering banking services exclusively through digital channels. “This is the first digital bank in Albania. This has always been the objective of Jet Bank. To be the first digital bank and get the first mover's advantage,” said Petrilis of Backbase, an AI-powered banking platform provider. 

The project is underway as Albania undergoes a broader digital transformation supported by government initiatives, with banks increasing investment in online services.

“Albania is going through major digitalisation, which is supported by the government there. Banks are investing in digital banking, but the launch of the first digital bank in the country will definitely raise the bar for the others,” Petrilis said.

Jet Bank and Backbase said in a January press release that the partnership would enable Jet Bank to move from initial setup to User Acceptance Testing (UAT) in roughly three months, with full operational capability possible within six months. 

As a greenfield lender, Jet Bank opted against legacy infrastructure, instead building its operations around a unified digital engagement platform capable of integrating core banking, payments and third-party services.

Petrilis said Backbase brought global experience to the project. “We're powering some of the world's most successful digital banks, bringing proven expertise from over 200 banking projects across 120+ countries. All of that accumulated knowledge came to Jet Bank.”

The platform provides core features such as account opening, payments and lending out of the box, reducing the need for lengthy development.

“Our pre-built digital banking platform enabled Jet Bank to launch a world-class digital bank in months, not years. This includes fundamental features any modern digital bank needs, such account opening, payments, and lending, which are already built and proven in the market,” Petrilis told bne IntelliNews. 

The use of pre-configured systems also helped reduce execution risks. “Rather than building from scratch, Jet Bank leveraged our solutions, which are already validated by leading banks worldwide.”

Although the bank has yet to go live, early interest has been strong, reflecting pent-up demand for digital-first services in Albania. “Jet Bank is … currently in the UAT phase. However, it has already created a lot of ‘noise’ in Albania and the population is eager to embrace the first digital bank in the country,” Petrilis said.

Backbase said the platform will support continuous product updates after launch, allowing Jet Bank to introduce new features through monthly releases without disrupting existing services.

Jet Bank’s chief executive Fatbardha Rino said in the January statement the lender aimed to “set a new standard for digital banking in Albania” by building a service that is “intuitive, reliable, and relevant in everyday use”.

The launch highlights a broader trend across the Western Balkans, where digital banking adoption still lags behind Western Europe but is accelerating.

Backbase said its marketplace model would allow Jet Bank to expand its offerings over time through partnerships with third-party providers, while maintaining a consistent customer experience.

In the medium term, the bank aims to establish itself as a primary banking provider in Albania, before expanding regionally with new digital products and services.