Every fourth company in the non-banking financial sector already has a digitalization strategy, and 32% are in the process of developing it. In the three sectors – insurance, social security and investment companies are dominated by companies that invest up to 20% of their total expenses in financial innovations and plan to maintain a similar amount of investments over the next three years.
This is indicated by a survey conducted by the Financial Supervision Commission for the period 2020-2026 among 50 leading companies.
The findings indicate that the sector is moving from introducing digitalization and experiments with new technologies to building comprehensive models in which innovations are part of the business, requiring systematic management of technological, operational and regulatory risks.
The latest FSC study on the development of financial innovations, conducted in 2026, highlights the clear trend - digitalization is permanently linked to the long-term development of the non-banking financial sector.
Along with the implementation of new technologies, the sustainability of digital processes, regulatory compliance, data protection are increasingly important and effective information management. The survey data shows that among the widely used technologies, digital platforms, application programming interfaces (APIs) and electronic customer identification (eKYC) stand out, which are applied to automate processes, process and analyze large volumes of data, improve customer service and increase compliance with regulatory requirements.
At the same time, the profile of challenges is expanding - in addition to cybersecurity and data protection, dependence on external providers, the integration of new technologies with existing IT systems and the shortage of qualified personnel are increasingly significant.
For comparison, the 2020 FSC survey shows that in the conditions of the COVID-19 pandemic, the main focus was on the implementation of digital platforms, cloud services and mobile technologies. At that time, the use of artificial intelligence was still limited, but the pandemic accelerated the digitalization processes and directed companies towards solutions to reduce costs, increase operational efficiency and improve access to financial services.
In 2021, the FSC's specialized study on the use of artificial intelligence confirmed the trend established a year earlier that the technology was still in a relatively early stage of implementation, but attitudes towards it were mostly positive. At that time, 45% of participants assessed the impact of AI as positive, and over 42% reported a positive effect on the optimization of work processes.