Research shows impact of digital channels on banking operations

The use of digital channels to carry out banking operations has been dominant in Brazil. Payments and opening of accounts, among other transactions, are mostly made over the internet and by cell phone. According to a survey by the Brazilian Federation of Banks (Febraban), in partnership with Deloitte, the use of digital channels for banking operations grew 23% last year and is now seven out of ten in the country.

The survey showed a 28% growth in smartphone operations, which totaled 67.1 billion and represent 56% of the total. The transactions by internet banking increased by 6%. In addition, financial transactions via cell phone grew by 75% last year, from 9.3 billion transactions to 16.3 billion operations.

The numbers also reveal that payment-related transactions grew by 72% in mobile banking. And, for the first time, the number of account openings through digital means surpassed the use of physical channels for the same operation. Digital account opening reached 10.8 million in 2021, an increase of 66% compared to 2020. The use of physical channels for this purpose totaled 9.9 million, 16% more than the previous year .

The study also showed the growth of Pix, an instant payment system in operation since November 2020. Data brought by Febraban and Deloitte show an 809% growth in the number of users who paid more than 30 Pixs per month between March 2021 and March 2022.

In addition, the rate of expansion of receipts of more than 30 Pix per month in individuals is higher than in companies. For the federation, this shows the potential for expanding the use of Pix in stores and service providers.

“The survey results reflect the new profile of our customer who seeks and finds convenience, convenience, security and speed in banks’ digital channels,” said Isaac Sidney, president of Febraban.

“There has been an unequivocal change in the behavior of consumers in the activities of various sectors of the economy, who no longer go to the bank branch, because they are able to carry out almost all transactions in electronic media”, he added.