The Financial Innovation Association Kosovo unites financial technology, otherwise known as FinTech, companies and other organizations that operate outside banking sector, providing financial services to the residents of Kosovo.
The association’s mission is to create a reliable and responsible industry practice, aimed at long-term cooperation with and positive assessment by consumers and market monitoring institutions, while at the same time explaining to the general public the various opportunities the alternative financial services can provide for the development of individuals and the society as a whole.
The association represents non-bank crediting companies, which issue consumer loans.
Non-Banking Consumer Loans
Non-banking consumer loans can be received either in company branches or remotely via internet. A collateral is not necessary. Larger amounts have a fixed payment schedule, but smaller loans have to be paid back at once. In most cases people use these loans in unexpected life situations when extra funds are needed. Non-banking consumer loans are not meant for solving long-term financial problems or other liabilities.