Analysis: How digitized is the banking system in Romania
How digitized is the banking system in Romania? How many banks use machine learning (ML), artificial intelligence (AI), chatbots, cloud computing and cloud banking, big data, biometrics or optical character recognition, explains Ziarul Financiar.
A number of 13 banks on the Romanian market use technological solutions based on machine learning (ML) and all 13 have cloud computing and cloud banking applications. At the same time, 17 banks use biometrics and customer identification solutions, and 16 banks have optical character recognition applications. Regarding the use of chatbots, a number of 12 banks turn to this alternative, and in the segment of artificial intelligence 9 banks claim that they use it, while big data appears in the case of only 5 banks. No bank uses applications based on blockchain technology, according to the BNR.
Banks on the Romanian market have made progress in the process of digitizing their activity, adopting innovative technologies, but the pace of alignment with technological changes is heterogeneous, being more pronounced in the case of large and medium-sized banks, which have a greater potential for development and a higher investment capacity. At the level of the banking sector, the investments for this purpose are estimated at around 770 million lei in 2023, according to the BNR evaluations.
A number of 13 banks on the Romanian market use technological solutions based on machine learning (ML) and 13 also have applications related to cloud computing and cloud banking. At the same time, several banks, namely 17, use biometrics and customer identification solutions, and 16 banks have optical character recognition applications. Regarding the use of chatbots, a number of 12 banks turn to this alternative. Regarding applications based on artificial intelligence techniques, a number of 9 banks claim to use them, while big data appears only in the case of 5 banks, as indicated by the BNR evaluations.
Source: www.mediafax.ro
