The artificial intelligence (AI) revolution is transforming the global financial sector all around the world. According to a Boston Consulting Group (BCG) study, the strategic and large-scale adoption of AI can increase banks’ productivity between 35% and 50%, with significant impacts in areas such as customer service, risk management, internal operations, and technology.
Brazil emerges as one of the country’s most receptive to the digital revolution in the banking sector. A recent article by Valor Econômico, a highly influent news vehicle in the country, highlights that, although productivity gains with digitalization have been modest so far, the growth potential is enormous. Between 2018 and 2023, Brazil had an annual gain of 3.5% in the assets per employee metric, outperforming countries such as Canada, the United States, Australia, the United Kingdom, and India, but still below markets such as Saudi Arabia, China, and Indonesia.
The BCG study points out that the country is among the markets where fintechs and digital banks, such as Nubank, have gained scale and institutional recognition, being treated as large banks by regulators and consumers. This trajectory reflects a global trend: in countries such as the United Kingdom, Poland, and South Korea, the so-called “digital attackers” are gaining space and market value, challenging traditional banks for presenting more agile and customer-centric models.
An emblematic example of Brazilian innovation, Pix, an instant payment system, handled US$ 5 trillion in primary transactions in 2024, surpassing the global volume of transactions with stablecoins (US$ 4 trillion) and approaching giants such as Mastercard (US$ 10 trillion) and Visa (US$ 13 trillion). This leadership reinforces the country’s potential to integrate digital assets into the traditional financial system, a frontier that could redefine credit and liquidity soon.
The Boston Consulting Group paper shares more global cases, including:
- South Korea and Poland: Digital attackers such as neobanks already capture more than 60% of the customer base in some markets.
- United States: Banks that have strategically adopted AI are already achieving up to 5% improvement in revenue or cost reduction, with projections of up to 50% transformation of operational functions.
- Europe: Banks that lead in domestic deposits have valuations up to 3x higher than their competitors.
AI: From Tool to Business Strategy
The key to unlocking this value lies in the bold adoption of AI, combined with process reengineering and a focus on leaner, more specialized business models.
International examples show that banks with focused models, such as those specializing in wealth management or credit, outperform universal banks, even with higher cost structures. This is due to the ability to generate recurring revenues from high value-added products and less reliance on interest margins.
Artificial intelligence has become a central part of business strategy. BCG’s 10-20-70 model reinforces that 70% of successful AI adoption depends on people and culture, as well as technology. This requires a profound change in the way banks operate, with integration between areas, focus on value, and reimagination of processes.
Opportunity for Inclusive Credit
AI can be a powerful ally in quality financial inclusion, a central theme on the G20 agenda. With more accurate and ethical algorithms, it is possible to expand access to credit for historically excluded populations, such as microentrepreneurs and informal workers, without compromising the sustainability of the system.
Artificial Intelligence (AI) has been a concrete reality in the credit industry for more than 20 years, with concrete results of how AI has transformed processes such as real-time score updates, fraud detection, automation of statistical models, and responsible credit expansion.
Brazil has a unique opportunity to stand out more and more in this transformation. The path is similar to countries as United States and China, which start from a state policy, strategy, legislation and advanced regulation. China, for example, has an AI literacy strategy in its teaching curriculum at various levels. While here we have consumers eager for the use of digital technologies and a vibrant fintech ecosystem, which can make the country a global reference in smart and inclusive credit.
For countries interested in advancing on AI innovations, it is necessary to have the right business talents with emotional intelligence, the ability to work in teams, flexibility, resilience and critical thinking. Another key point is to have training programs for professionals to develop and use AI. After all, more than technical structural tools, the transformation that will remain is the one that happens when psychosocial factors are also considered.
Author: Elias Sfeir
President of ANBC – Brazilian Association of Credit Bureaus. Representative of Latin America in the World Bank Credit Committee. He also represents Brazil and Latin America in credit organisations accross the world, such as ACCIS, BIIA and ALACRED.
Source: ANBC
