Abstract:

Digitization and advances in new technologies are transforming the world. In the banking sector, digitization is revolutionizing the industry, creating new customer needs that deserve the attention of institutions. In this sense, the implementation of digital initiatives allows us to respond to customer concerns, ensuring their satisfaction, while improving internal processes and increasing operational efficiency.

The methodology of the study consists of a qualitative descriptive approach, through a case study, using direct observation and document analysis.
The study clarified that digitization is, in fact, changing banking as we know it, and Caixa geral de depósitos (CGD) in particular, through process automation, investment in new technologies in branches, and a strong focus on the digital channel, enabling it to improve its operational efficiency.

However, there are challenges that should not be ignored. Finally, it is concluded that the future of banking will inevitably be digital, but it is necessary to understand that there will always be a small amout of customers with low familiarity with digital technologies.

Over the years, the financial system has undergone significant evolution, driven by the economic development that has been felt. With this growth, and contrary to what happened previously, where resource transactions were carried out inefficiently between people, these began to be carried out by financial institutions, guaranteeing maximum security and efficiency. Some authors mention that, the savings of individuals, and even companies, began to be directed to these financial institutions, providing them with capital, which allowed them to increase their operations and invest in other projects.

The literature review allowed us to contextualize the financial system and, subsequently, analyze the evolution of the Portuguese banking sector and its most relevant events, such as Portugal's accession to the EEC, integration into the EU, and the international financial crisis of 2008. The crisis resulted in an increase in prudential rules, driving structural and regulatory changes.

In this sense, digitalization emerges as a response to the new demands of the market, also contributing to greater banking efficiency through the automation of processes and improvement of the customer experience. The implementation of digital technologies in the banking sector (such as artificial intelligence, cloud adoption, big data, among others) allows financial institutions to improve internal operations and offer higher quality products/services. At the same time, these technologies contribute to the reduction of operational costs and to the positioning of the institution in the market.

The case study made it possible to relate theoretical concepts to their practical application, demonstrating how the impact of technological modernization is affecting CGD. It was possible to verify that the investment in this aspect has assumed a crucial role in the innovation strategy, both in physical branches (through their modernization and the investment in VTM to reinforce the self-service space), as well as the investment in digital solutions (improvement of the CaixaDirecta app, CGD's entry into the metaverse, strategic partnerships with fintechs, among others), showing the institution's commitment to digitalization, in the face of an increasingly competitive and demanding market.

Keywords:

Caixa Geral de Depósitos, Banking Sector, Digitization, Efficiency.