Today, any user can carry out multiple financial transactions over the Internet: from opening an account, to investing in stock, to paying bills or making a transfer. In fact, the number of users who use online banking services in Spain has not stopped growing, according to Statista. While in 2008 only 18% of clients made use of this type of banking, that figure rose to 49% in 2018. In the case of BBVA, more than half of its customers worldwide already use banking services on their mobile devices.
Ignacio Boixo, member of the Consejo General de Colegios Profesionales de Ingeniería Informática (General Council of Professional Engineering and Computing Schools), highlights that savings and investment models are becoming increasingly diversified. “Banks have begun to offer a whole range of fintech services supported by secure communication models that have been deployed in a wide range of areas, such as payments, financial statements, portfolio management, or algorithmic trading,” he says. While the number of services offered is predicted to increase even further in the coming years, different technologies are expected to mark the future of the banking sector.