According to a survey conducted by the Brazilian Federation of Banks (Febraban), in partnership with Deloitte, the budget of Brazilian banks for technology will reach USD 7 million this year. The number is 18% higher than in 2021.
The survey included 17 institutions, which together represent 82% of the country’s banking assets. The main investments are contained in topics such as cybersecurity, artificial intelligence and open finance included in budgets such as the blockchain.
Last year (2021), banks invested USD 6 million in technology, of which USD 2 million was in investments. Unlike 2021, banks will make more capital available for investments made in software. The research projects that the value will be around 58%. Expenses with equipment must represent 27% of the total and information technology services, 7%.
“Banks need to follow the evolution of the consumption habits of the population, increasingly present in digital channels. Gone are the days of crowded agencies. Investments in technology, in addition to streamlining banking services, provide more security, predictability and consistency in operations. Another secondary factor is that banks, by investing in technology, aim to gain the trust of customers”, comments Jefferson Ribeiro, founder of Aprova Bancários.
New scope for banks
Also according to the survey, 53% of banks will invest this year in structures for remote work, which includes equipment, software and expenses with information security and cloud storage. In total, there should be R$ 46.4 million in investments.
Once a segment practiced by few companies, the home office is now a reality for 15.8 million Brazilians. In the last year, banks have made progress in remote work not only in administrative areas, but also in branches. In 82% of the institutions consulted, some form of remote work was adopted for the employees of the units; 73% reduced their hours of attention to the public, and 55% rotated teams.
Even with the growth of remote banking, 17.4 million people still do not have access to a bank branch in their regionaccording to the Financial City Report.
“With the Central Bank’s authorization of the home office banking correspondent profession, correspondents can now reach the millions of people who do not have access to bank branches”, comments Jefferson.
For the entrepreneur, the ease of services ends up bringing new perspectives to the population. “The services offered by conventional agencies, such as offering credit products, can be provided digitally by these professionals”, he concludes.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.