Safeguards should also be strengthened to ensure that individual rights are adequately protected and that the methodologies used do not result in discriminatory practices. The provision of online credit is increasing. At the end of last year, the share of banks offering loans to households and firms via digital channels was 44 and 25 per cent respectively.
The capacity to lend remotely and the use of digital tools to assess customers’ creditworthiness allowed banks with a higher rate of technological innovation to increase their market share during the pandemic crisis. However, the recent acceleration in the use of new technologies has exposed us to greater risks, as witnessed in some major cyber incidents.