Álvaro Santos Pereira, in his opening remarks at the 8th edition of the “Grande Encontro Banca do Futuro” organized by Jornal de Negócios, highlighted the risks associated with the fragmentation of the banking value chain, which paradoxically “coexists with a concentration of technological infrastructures.”
“The financial sector increasingly relies on a limited number of service providers, cloud computing, and Artificial Intelligence (AI) platforms,” he noted, a dependence that “creates points of systemic vulnerability.”
Santos Pereira warned that a single failure among these service providers “can paralyze various financial institutions.”
The governor also mentioned that regulations have been developed recently to “mitigate” these risks.
In his address, he also discussed the role of AI, stating that it “allows for deeper risk modeling, customer service and advice, product or service recommendations, and even fraud detection mechanisms.”
However, he argued that “safe, transparent, and effective governance models” are necessary to manage AI.
