Pulso Perú report analyzed 20 countries in the region to analyze digital innovation, and Peru occupies the sixth place.
“According to the study, financial sector institutions have understood the importance of digital innovation; So much so, that the average investment in 2018 reached 20% of the total budget of financial institutions, which represents an increase of 4% compared to 2017”, the Energiminas magazine said on a press release.
The main focus of the digital innovation field has been on the development of channels and services that provide a personalized experience at any time and from any place. Examples of these are mobile banking and virtual accounts.
Pulso also determined that companies that perceive payment management fraud as the main challenge for their clients, tend to invest 8% more in innovation compared to entities that are developing other financial products and services.
On the other hand, the study indicates that the countries that have invested the most in digital innovation in 2018 are Panama (17.17%), Argentina (12.42%), Bolivia (11.67%), Colombia (11.58%) and Venezuela (10.99%). Peru occupies the sixth place with an investment of 10.93%, which represents a decrease of 1.5% compared to 2017, a year in which the country was ranked fourth in the region.
Pulso also believes that traditional entities must work on the implementation of technologies that facilitate the development of financial and non-financial products and services, and attract talent that works in areas such as data analysis, artificial intelligence and cybersecurity to stay competitive with the new disruptive actors in the sector.