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Adobe study shows that banks in Brazil are not yet prepared for the digital future

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According to the study “2021 Adobe Digital Trends Report: Financial Services in Focus”, Brazilian banks are not yet prepared for the future of digital finance.

The study showed that 54% of banks experienced an unusual growth in visitors to mobile and digital channels.

However, the report points out that only a third of financial institutions were prepared to react to the changes brought about by the pandemic.

Despite these challenges, Adobe’s Director of Financial Services Strategies, Christopher Young, underscored that there are trends that will continue to be relevant for the future of the financial industry, particularly those regarding customers’ experience with their banks.

“Consumers will continue their own digitization process, looking to online services to solve problems quickly. In this sense, companies in the sector must increasingly place customers at the center of their strategic decisions.”

Instead of centralized applications, Adobe’s study points out that open banking and decentralization is the key to success.

As Young highlighted, adopting a consumer-centric business model means that banks must have a data-driven culture. In this system, data can be easily activated to create a personalized, omnichannel digital experience across all consumer touch points.

Adobe

Another Adobe survey entitled “The State of Digital Transformation in Financial Services 2021″, mapped the three main actions that should be a priority for financial institutions that want to attract more consumers.

Among them, adobe mentions that it is necessary to create digital products that generate engagement in the channels. In addition, the actions must optimize the self-service functionalities. Finally, they need to gain deeper consumer insights to understand evolving needs.

“This ecosystem that is transforming the future of banks is made up of curious entrepreneurs and leaders. They want to test and innovate using technologies that unify data and content, and effectively deliver the financial experience of today and tomorrow,” concluded Young.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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