Rubicon Sh.a. (“Rubicon”), a young FinTech company based in Albania, has been approved to operate as an Electronic Money Institution (EMI) by the Central Bank of Albania.
„The authorization of the EMI license allows now Rubicon to enter the market with its flagship product ‘Pago’ and become a role model for the digital-banking experience of the future in Albania and the region,” according to the press release.
„Pago, as a financial mobile app, will offer easily accessible, affordable, and contemporary services, including instant payments, ecommerce services, personal finance management, and investments. With its freemium model for customers, Pago is set to disrupt the current market,” the company says.
Market statistics strongly indicate the need for new financial solutions in Albania.
Armand Brahaj, founder of Rubicon, said “We are incredibly excited to have been granted the EMI licence as a major milestone towards our vision to lead the modern financial ecosystem in the region. We build solutions centred around the needs of individual and businesses. With Pago as a vertical financial solution, we are opening new ways for payment processing, management of personal finances, and investments driven by innovative technology.”
Rubicon is now focused on accelerating its market entry having closed a pre-seed investment round last year. The company plans to launch Pago mobile application by summer this year. A number of initial services will be rolled out to a closed group of customers starting next months.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
