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ASPEKT signs agreement for mutual collaboration with FAF D.C.

November 2010, Republic of Albania

ASPEKT signed agreement for installation and implementation of the Aspekt Microfinance Software for First Albanian Financial Development Company, Republic of Albania.

First Albanian Financial Development Company elected ASPEKT as the most appropriate vendor on the international bid for the implementation and delivery of Aspekt Microfinance Software. With the implementation of the Aspekt Microfinance Software the client will be able to ensure stability, effectiveness, scalability and further development as the company grows further. The system will integrate all front office operations with back office operations, hence give the employees an integrated platform that they can work on.

First Albanian Financial Development Company is a financial institution that provides loans directly to individuals and Small and Medium Enterprises (SMEs) in urban and semi-urban areas of Albania, rural and disadvantaged, which in most cases are inaccessible from banks. Its mission is to contribute to the economic growth of generally the poorer areas of Albania by providing its target clients access with appropriate and sustainable financial services consistent with their investment needs and business objectives. FAF’s frame of business and operations includes development of new financial instruments such as equity financing, insurance and alternative collateral, and of ways to adjust loan repayment terms and conditions to suit the requirements of poor people in rural areas. With its full range of financial services, FAF supports economic diversification and growth in mountain areas.