transform banking in 2020

Digital keys that will transform banking in 2020

A recentstudy reveals what will be the trends that will change the ways in which we understand banking today and the way in which people relate to it.

The irruption of new technologies affects all sectors of activity (tourism, accommodation, transport, etc.…) but if there is a traditional business that is strongly undergoing this digital transformation, it is undoubtedly the banking sector.

We all know the once concept of an all-powerful, ubiquitous bank with large structures with enormous regulatory demands. Well, today they are beginning to be overwhelmed by what are called “Fintech” applications that operate as a global entity, with multiple financial services and a very low cost, incorporating artificial intelligence and mobility technologies to better serve their clients.

What will be the trends that will dominate the banking market in 2020?


In 2014, investment in Fintech-type applications multiplied by 3, reaching 12,000 million dollars. That same year, traditional banking invested $ 215 billion in information technology, and despite regulation and other entry barriers, there is already a great demand for services related to Fintech both in the field of retail and consumer banking.

Collaborative economy

In 2021 we are sure that citizens will continue to need the services that are provided today in banks in a traditional way, but perhaps these people will no longer need to go to the bank in person.

The sharing economy is transforming sectors such as transportation (Uber), tourist accommodation (Airbnb) and it seems that the financial sector is next.

consumer banking

We are talking, for example, about the use of information technologies to be able to relate businesses in a much more efficient way, for example platforms that put people who have capital in contact with those who seek financing instead of going to the intermediation of a bank, as shown has done traditionally.


In 2015, only 13 blockchain companies were able to attract more than 350 million dollars of investment and at the beginning of 2017 this amount exceeded 1 billion dollars.

The two main advantages of this technology, which are attracting both the attention of executives of financial institutions and startups and risk companies, are the possibility of considerably reducing the cost of infrastructure and internal platforms of banks and on the other hand the different applications that this technology has, since they are practically unlimited and range from financial transactions to the automation of contractual processes.

The application of robotization and artificial intelligence will mean an evolution in the financial sector similar to what was once the arrival of ATMs.

Cloud Computing

Currently, most entities only use the cloud to host business processes that are not part of their main activity, but in 2021 it is estimated that they will also integrate other more strategic areas such as payments or credit qualification, mainly due to Lower costs of storing data in the cloud.


Security in the network is today one of the main concerns of executives of financial institutions and this concern will only increase over time, especially due to the rapid growth that will be carried out in the area of ​​payments, insurance and commercial banking.

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