More than 40% of Brazilian adults have a digital bank account

More than 40% of Brazilian adults have a digital bank account

Photo: Publicity/DINO

Digital financial services have increasingly attracted Brazilians. Global research by Finder, an investment consultancy, showed that 42.7% of adults in the country already have a digital bank account. The number is 10.7% higher than last year. According to industry estimates, the number of users of digital financial services is expected to peak above 55% in 2027.

The accelerated movement of adhesion to the new banking and financial institutions created in the midst of the boom technology in recent years has heated up the digital services market. In 2022 alone, the number of Fintechs – as financial companies that have their processes all based on technology are called – jumped to 1,289, according to a survey by business consultancy Distrito. In 2015, that number was just over 300.

In the wake of the success of Fintech services – which include banks, credit, investment, financial control, payment, crowdfunding and even Bitcoin services – opportunities are opening up for professionals in the field of Information Technology. The sector, which received US$ 1.12 billion in investments in the first three months of 2022 alone, is home to a booming job market.

According to the specialist in Software Engineering, Alan Mercurys de Oliveira, there is a growth in open technology vacancies in the country, with a demand for several professionals such as engineers and software developers, quality test analysts and business analysts. “These vacancies, even though they are competitive, demand highly qualified professionals, who are highly sought after in the job market and tend to be rotated by companies, working on specific challenges and projects”, he informs.

And this search for professionals is not restricted to digital banks and financial services. In order not to be left behind in this technological era, traditional banks are also modernizing. Oliveira comments that traditional models of financial services needed to undergo digital transformation not only in relation to technology, but also modernizing their processes.

“Today, these companies adopt several agile methodologies in order to reduce the time-to-market, which is the time required from product design to delivery of the solution to the customer. And they use cutting-edge technologies that allow them to architect and develop systems so that they are highly available, performant and resilient”, says he, who has nine years of experience in the Information Technology area.

To be able to operate in this market, professionals need to be aware that the challenges are great, despite the increasing demand. “Tech professionals looking to work in this industry need to be aware that the challenges are proportionate to market demand. They need to acquire diverse technical knowledge, such as cloud computing, distributed systems and software engineering. And also behavioral, such as critical analysis, innovation, communication, leadership and productivity. It is not an easy journey, but it is largely satisfying when we can visualize our work improving the lives of millions of people”, attests Alan de Oliveira.

Brazil is the country that most increased the number of digital bank customers

The Finder survey on users of banks and digital financial services showed that Brazil, in 2022, was the country that most increased the number of customers who subscribe to this type of service. Then comes India (26.3%), Ireland (21.8%), Singapore (21.2%), Hong Kong (19.7%), United Arab Emirates (18.8%), Mexico (17 .4%), Spain (16.8%) and South Africa (14.8%).

At the other end, among the countries that least use this type of service is the United States, with 7.5% of users. Then comes the Philippines (12.8%), Malaysia (13.1%), Portugal (14.2%) and Germany (14.4%) among the countries where the population has not yet seen or knows the advantages of digital financial services. .

Another data shown by the survey is that most Brazilian customers of digital banks are male. At least 45.8% of respondents who said they use the service are men, against 39.9% of women customers. Regarding the age group, people aged 25 to 34 are more likely to use online bank accounts. At least 55.3% of this group claimed to already use some service.

And why do Brazilians have a strong adherence to digital banks?

according to a search carried out by Fiserv, which operates in the processing of card transactions – the possibility of interaction via cell phone or computer is the main reason for choosing a financial institution. At least 28% of survey respondents cited this reason. Second, with 18%, comes the non-charge or low service fees.

In addition, 70% of respondents stated that they would change institutions if they could not rely on good interaction via computer or cell phone, which reveals a preference for less bureaucratic, more autonomous and cheaper processes.

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