Intelligent CIO LATAM Issue 05 | Page 75

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FIVE INEVITABLE TECH TRENDS FOR THE FINANCIAL INDUSTRY

Felippe Mantteucci Melo , Vice President of Technology at IBM Brazil , explains , based on the IBM Institute for Business Value 2021 report , the relationship of customers with financial institutions and highlights trends in the digitization of services in this sector .

It was almost in the blink of an eye : Suddenly , customers ’ experience with the financial sector reached a level that few people imagined a few years ago , when they were still waiting impatiently in line at an ATM .

The relationship between people and banking institutions continues to evolve exponentially and , for that to happen , the level of investment in technology is voluminous . Naturally , after all , it is this contribution that will accelerate the digitization of services and create new ways of connection between banks and their customers .
Throughout 2020 , the financial sector in Brazil confirmed this scenario : Investment in technology grew 8 % here , at around R $ 8.9 billion . More than that , disruptive technologies have gained significant relevance in IT investments , with AI being a priority for 93 % of institutions , a 10 % point jump in just 12 months .
The relationship between people and banking institutions continues to evolve exponentially and , for that to happen , the level of investment in technology is voluminous .
As a concrete example , more than 618 million calls were answered via chatbot over the past year in the country according to the FEBRABAN 2021 Banking Technology survey .
Associated with such consistent numbers , the banking sector will undergo a new transformation phase with the consolidation of Open Banking , a standardization of the process of sharing data and financial services by institutions through the opening and integration of technology platforms and infrastructures .
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