According to The digital transformation in the Italian banking sector , a survey published by the Bank of Italy in April this year, digital transformation, with limitations and slowdowns, has nevertheless spread to our country, at a speed that varies depending on the different types of activities involved . Digitalization began with payment services : in 1998, a quarter of banks already allowed their customers to make or receive payments digitally; ten years later, in 2008, this ratio was close to 90 percent and in 2018 all the banks interviewed provided digital access. In the same year, moreover, 75 percent of banks (corresponding to over 80 percent of deposits) allowed online micropayments and peer-to-peer money transfers via mobile devices , reflecting the preference given by customers to these tools.
Since the early 2000s, the digitalization process has also spread to wealth malta whatsapp resource management , although at a slower pace than that observed for other banking services: in 2018, less than 60 percent of the banks interviewed placed savings products through digital channels.
( i.e. the ability to almost completely finalize a transaction or contract with digital tools) is still largely heterogeneous across business areas, with poor returns for residential mortgages (financing designed for those who decide to purchase a property) compared to consumer credit and – to an even greater extent – asset management. Digital intensity is, however, very high for payment services.
Finally, it should be noted that the ICT transformation in the banking sector is closely linked to the emerging phenomenon of FinTech companies , which concerns the adoption of technologically intense and innovative processes that could lead to new financial products and services .