In a rapidly growing market like the Albanian one, FinTech platforms are playing an increasingly important role in transforming how financial transactions are conducted. The research aims to perform a strategic assessment of ten FinTech platforms currently operating in Albania based on 12 strategic criteria. The assessment is based on multi-criteria decision-making methods (MCDM). For this, a model based on the fuzzy approach was developed, allowing for the management of uncertainty and subjectivity in evaluating the performance and suitability of the platforms. Specifically, the fuzzy LMAW method was used to weight the criteria, with Security being assigned the highest weight. The ranking of the platforms was conducted using the fuzzy CRADIS method, with EasyPay achieving the best results. Through this model, the research seeks to provide an objective ranking of the platforms based on each criterion’s relative contribution. The findings are expected to help developers, investors, and policymakers better understand the competitive positioning of current players. The results may also highlight areas for further improvement and growth in Albania's FinTech sector.
Strategic assessment of fintech platforms in using fuzzy LMAW and fuzzy CRADIS methods
Authors
- Blerina Dervishaj Department of Finance and Accounting, Faculty of Economy, "Ismail Qemali" University of Vlora, Lagja, ''Pavaresia'', Rruga “Kosova” 400, 9400 Vlorë, Albania.
- Adis Puška Department of Mathematics and Informatics, Faculty of Economics and Agribusiness, Agricultural University of Tirana, Rruga Paisi Vodica 1025, Tirana, Albania.
- Adis Puška Department of Public Safety, Government of Brčko District of Bosnia and Herzegovina, Bulevara mira 1, 76100 Brčko, Bosnia and Herzegovina.
- Anđelka Štilić The College of Tourism, Academy of Applied Studies Belgrade, Bulevar Zorana Đinđića 152a, 11070 Belgrade, Serbia.
- Dragan Pamučar Faculty of Organizational Sciences, University of Belgrade, Jove Ilića 154, 11000 Belgrade, Srbija, Serbia, and Faculty of Engineering, Dogus University, Istanbul, Türkiye, and Department of Applied Mathematical Science, College of Science and Technology, Korea University, Sejong 30019, Republic of Korea.
- Darko Božanić Military Academy, University of Defence in Belgrade, Veljka Lukića Kurjaka 33, 11042 Belgrade, Serbia.
