For financial institutions, technology is essential to accelerate business growth, create new products and services and automate processes. According to a survey by Febraban, banks should invest approximately R$ 47,4 billion in technology during 2024, reflecting a significant advance in the adoption of new tools, like PIX. This highlights Brazil as one of the global leaders in the digital transformation of the financial sector, promising a bright future. In this panorama, a NAVA Technology for Business, company specialized in technology services and solutions, list ten trends that this market should incorporate in the coming years
1- Information security and data protectionWith the increasing digitization, protection against cyber threats is crucial. In 2024, 25% of banks plan to increase the number of professionals in the cybersecurity field, 79% of organizations plan to invest in architecture, infrastructure and technological tools
2- Integration of emerging technologiesDespite the digital advancements, there are challenges in the effective adoption of technologies such as blockchain and artificial intelligence
3- Competition among fintechs and new business modelsFintechs challenge with disruptive solutions, forcing rapid adaptation and differentiation of services by traditional institutions
4- Customer experienceConsumers are becoming increasingly demanding regarding customer experience in the financial sector. That's why, there is a growing demand for interactive and personalized digital experiences
5- Investment in technological infrastructureSome financial institutions still face challenges with outdated technological infrastructure, needing to update legacy systems to provide high-quality digital services
6- Cloud usage maturityaccording to a survey by Febraban, 79% of respondents intend to increase investment in cloud, this expansion has promoted scalability, operational efficiency, flexibility in storage and agility for changes
7- Tokenizationtokenization emerges as a means to democratize access to investments in different areas, how agribusiness and renewable energy, also facilitating the financing of these activities. The Central Bank has established tokenization and cryptocurrencies as priority areas for regulation in 2024
8- Greater adoption of cryptocurrenciesBrazil stands out as the sixth country with the highest adoption of cryptocurrencies in the world, according to a survey conducted by Triple A, with a base of 26 million investors. This trend reflects the rapid acceptance of Brazilians towards new forms of financial transaction
9- DREXExpectations for the implementation of the national digital currency are high, with the system currently in testing phase
10- Open FinanceThe system surpassed 42 million active consents, increase of about 97% compared to the previous year in 2023. The investments made by the Open Finance Brazil structure totaled R$ 95 million, 53% higher than the amount recorded in 2022
Barriers to adoption
Despite the advances and possible implementations of these trends, Brazil still faces challenges such as digital inclusion and professional training. Continuous investments and robust regulation are essential to consolidate the country's leadership in the digital transformation of the financial sector
Adriana Viali, CEO of NAVA, understand that, even with the obstacles, the future remains promising. "With continuous investments in infrastructure and solid regulation", Brazil will not only overcome the current challenges, but it will also strengthen its position as a global leader in the digital transformation of the sector. Constant innovation and the improvement of operational practices will ensure safer financial services, efficient and accessible to all.”
