Brazilian banks invested US$5billion in technology in 2020 – Febraban survey

93% of the banks surveyed mention artificial intelligence as an investment priority.

RIO DE JANEIRO, BRAZIL - The Febraban Bank Technology Survey, released Thursday morning, shows that banks in Brazil invested R$25.7 (US$5) billion in technology last year, an 8% growth over 2019

Investments in software increased 15% in 2020, to R$14.4 billion. Among executives at 21 banks consulted, 93% cite artificial intelligence as an investment priority. Coming in second place, with 80% of responses, comes process automation.

Experts say that this result shows that the country is in line with the investments made around the world.

The survey pointed out that 10% of the investments in technology . . .

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