Brazilians Overwhelmingly Prefer Digital Banking

September 5, 2019

Brazilians Overwhelmingly Prefer Digital Banking

    More than 75 percent say they would very likely consider switching financial institutions if they weren’t able to manage their account easily on their mobile device

BROOKFIELD, Wis. & SÃO PAULO, September 5, 2019 – In a fast-moving global village, constant connectivity is key. The number of people working regular hours is decreasing as international time zones and exchange rates become more important. Smartphone and mobile banking capabilities are helping financial institutions meet customers’ evolving demands, while also enabling them to stand out from their competitors. 

In Brazil, two-thirds of the population (66 percent) prefer to interact with their primary financial organization through mobile or online devices, according to a new survey. More than 75 percent of respondents went as far as to say they would very likely consider switching financial institutions if they were not able to manage their account easily on their mobile device.  

The survey of 600 Brazilians, commissioned by global financial services technology provider Fiserv, Inc. (NASDAQ: FISV) and carried out by Toluna Insights, revealed that 42 percent of respondents prefer to use their smartphone, tablet, or wearable device to interact with their bank, while a further 24 percent prefer their laptop or desktop. Just 16 percent would rather visit a traditional branch and less than 10 percent are more partial to speaking to a representative by phone.

Younger respondents are generally more likely to prefer to bank via a mobile device, with 43 percent of those between the ages of 18-34, as well as the same percentage of those between 35-54 saying they prefer smartphones, tablets, or wearable devices.  

However, mobile banking is not just for the younger generations. While 28 percent of Brazilians over the age of 55 still prefer the traditional method of visiting a branch, 33 percent responded that they actually now favor banking via smartphone, tablet, or wearable device.

Rodrigo Silva, vice president, Latin America and the Caribbean at Fiserv, the Wisconsin-based company that entered Brazil in 2009, says the importance Brazilians place on constant connectivity should persuade financial institutions to focus on improving their digital options in order to retain and grow their customer base.

“Customers of all ages are realizing the convenience of banking through digital devices,” he said. “Through technology, financial institutions can be open around the clock, rendering a customer’s location and working hours irrelevant. If banks focus on ensuring their digital presence is both simple and all-encompassing, they will continue to be able to serve existing customers and attract new ones even as preferences for banking evolve.”  

Fiserv digital technology helps automate banks’ processes while elevating convenience and easy usage for customers. The company’s digital platform serves as an omni-channel orchestrator, creating experiences that are both secure and intuitive, with easy-to-configure digital and physical access points for personal and business customers through a sophisticated and sleek interface.

According to the most recent Federation of Brazilian Banks Congress, held in São Paulo this past June, mobile activity is on a steep rise. In 2018, smartphone transactions grew 80 percent compared to the same period for 2017 and are likely to soon surpass transactions made via internet banking. While computer transactions grew from 3.5 billion to 3.9 billion in 2018, mobile transactions rose from 1.7 billion to 3 billion. 

“Mobile is the present and the future,” said Silva. “In Brazil, the number of people using handheld devices to complete their banking needs is rising by the day. Financial institutions looking to lead and grow must meet customer expectations and continually update their mobile technology. The Fiserv platform puts digital banking literally in the hands of bank customers, enabling them to manage their finances whenever and wherever they are.”

As digital banking continues to grow, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover™ cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among the FORTUNE Magazine World’s Most Admired Companies®. Visit and follow on social media for more information and the latest company news.


For more information contact:

Media Relations:
Yuri Coghe
Sherlock Communications
+ 55 (13) 9 9710 8816

Additional Contact:
David Heaton Sr. Manager, Public Relations
Fiserv, Inc.
+1 770-282-0261