Article

2018 FEBRABAN Banking Technology Survey

Investments in banking technology grow again

Banks have also always been at the forefront of technology. This is what the 26 editions of the FEBRABAN Banking Technology Survey – including this publication – have been showing year after year. It is clear how Brazilian banks, and those operating in Brazil, spend to explore, develop, apply and improve technologies aimed at bringing convenience, practicality and safety to consumers. In 2017, investments and spending on technology grew 5%, to R$ 19.5 billion, with a special highlight to resources allocated to software. Separately, investments alone were 13% higher, reaching R$ 6 billion, the highest level since 2014.

By dedicating efforts and resources to new technologies, banks do nothing more than this industry’s essence: anticipating the consumers’ new demands. And it was so when digital channels evolved over the last two decades. First, there was the growth of internet banking and, in 2017, mobile banking consolidated as a major channel. There are 59 million active accounts in this channel – the same number of internet banking accounts. Last year alone, 1.6 million accounts were opened via mobile in Brazil, almost three times more than in 2016.

Did you find this useful?