In the digital era we are living, microfinance had to find its way to facilitate financial processes. That is also what NOA has done, below you will find an article by Herjola Spahiu, CEO of NOA sha. regarding their digitalization of microfinance. 

Digital and Microfinance, at NOA we believe it makes a perfect match as it all goes how to offer a better service to our customers, partners, and team. 

When Microfinance was first introduced in Albania, back in the 90s, it was all about ensuring that everyone, independently their geographical location, educational level, or socioeconomic situation, would be able to access a loan in order to create alternative income flows for their families. Up to some few hundred dollars, these first loans were used to buy a cow, retail products for a small grocery store, tables and chairs for a first restaurant... 

Microloans had to be flexible, accessible, fast, and low-cost. Having these first elements in mind and the promise that digital is all about flexibility and lowering operational costs for our large variety of customers was a natural choice at NOA going digital. Introducing bio-metric tablets so 100% of the loan process can be effectuated in the field; building an all-in-one Contact Point so our customers’ requests are always followed-up in the fastest and securest manners; investing in digital security infrastructure through new virtual solutions and improved hardware; building a digitally-based network of partners for real-time loan applications, etc. these are all concrete running examples of how digital has made microfinance better, cheaper, faster and safer for NOA and its customers. 

Based on this new digital reality, NOA decided to adopt an ambitious slogan: #ReinventingMicrofinance. Preserve everything that works well in our socio-financial model, while investing in everything that can be further refined in our digital expansion. 

 #ReinventingMicrofinance is not just a corporate slogan at NOA. It is a commitment to continue serving the same mission as we have done in the last 23 years, but while offering a better service, a more tech-friendly solution, more advisory and diverse products, and above all, a human approach to access to finance protecting families from over-indebtedness while still remaining accessible for everyone.

Microfinance in a digital time is more human than ever.  It creates a good culture of customer centricity, and targets excellent customer experience and higher financial inclusion. Through digitalized financial services, our customers are educated to self-serve, by choosing the product they want, at the time needed and from anywhere.

This is our ambition at NOA, this is the new standard the market asks for, and we are proud to say Albania is leading the way forward.  

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