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Banking Transactions Made by Mobile Phone Increase 24% in Brazil

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The number of bank transactions made by the mobile phone, through applications, grew 24% in 2018 compared to the previous year. According to a survey released today (7) by the National Federation of Banks (Febraban), the number of banking transactions with financial transactions grew 33%. The number of transactions with financial transactions per mobile phone increased by 80%. In 2018 2.5 million payments and transfers were made (including Credit Order Document — DOC and Electronic Transfer Available — TED), surpassing internet banking.

“We observed the migration from our client to the mobile. The ease of being able to solve financial issues only by using the mobile phone is a key point of this growth,” said Febraban’s Banking Technology and Automation director, Gustavo Fosse.

According to data from the Bank Technology Survey 2019, conducted through questionnaires to 20 associated banks, the advance of 80% is related to the growth in the number of accounts paid through this channel, which reached 1.6 billion, and the increase of 119% in the number of DOCs, TEDs and other transfers of amounts in bank accounts (862 million).

“In the mobile we have increased in all types of transactions that we search. In internet banking there has been increase in two of them and stability in two, but decrease of balance search by 17%, which nonetheless is a natural move, because if I am at home, I take the cell phone and look at the balance, not I’m going on the internet for this. It’s a natural evolution of transactions.”

Credit and investments

The contracting of credit by mobile phone increased 60% to reach 359 million in 2018. Investments and applications made by the same channel grew 36%. The data also indicate that the opening of accounts made by application reached 2.5 million in 2018, while in 2017 were 1.6 million.

“The major highlight here is the customer preferring to use the digital channel to open an account rather than going to an agency to do so. We are observing that customers are seeking more structured operations, such as account opening, by mobile . This has already been much discussed in the industry and with the flexibility of legislation, ease of photographing a document and transfer, customers are also seeking this option,” he said.

The communication between client and bank by web-chat had growth of 364%, with 138.3 million last year. Chatbot calls increased from 3 million in 2017 to 80.6 million in 2018, which corresponds to an increase of 2,585%.

Heavy users

The survey also evaluated the number of accounts with mobile banking users increased from 57 million in 2017 to 70 million in 2018. Of these, 38% are so-called heavy users, that is, people who make more than 80% of their banking operations per middle of the cell phone. In 2017, heavy users were 16.3 million and in 2018 they were 26.8 million, an increase of 64%.

According to the survey, investments in banking technology totaled R $19.6 billion in 2018 or 3% more than in the previous year. Of this total, R $10 billion was allocated to software for the development of new functionalities in services and products of banks. “At least 10% of that figure is used for safety,” Fosse said.