Behavior Changes

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Strategizing complete. I will now generate the response following these steps.# Banking in Colombia Current Behavior Changes Analysis

Ongoing Behavior Changes¶

Based on the synthesis of the provided reports and the analysis of current data from 2024 and 2025, several key ongoing behavior changes are impacting relationships and demand within the Colombian banking value chain.

A significant shift is the accelerating digital adoption among both individual and business customers. Individuals are increasingly utilizing digital channels for their banking needs, moving away from traditional physical interactions for basic services like deposits and payments. Davivienda's Daviplata reaching 18.5 million users by the end of 2024, with a substantial portion relying on it as their sole financial product or using it for microbusiness transactions, exemplifies this trend. Nearly all of Davivienda's Colombian customers now engage digitally. This behavior is further supported by the high rate of online purchases among adults and their widespread adoption of accounts with financial institutions or fintechs. The impending launch of the interoperable fast payment system, Bre-B, in May 2025, led by the Banco de la República, is poised to reinforce this digital migration by enabling real-time payments and further driving digital financial inclusion. The growth of the Fintech sector in Colombia, with 394 startups by 2024, also indicates a strong consumer appetite for innovative digital financial tools and experiences. Mobile wallets have emerged as a preferred payment method.

Financial inclusion continues to be a driving force shaping customer behavior, particularly through digital means. The digital strategy in Colombia, including the development of digital identity systems and fast payment systems, is specifically aimed at providing secure, efficient, and accessible digital financial services to underserved populations, including women and those in rural areas.,, While historical trends show increasing account ownership, digital platforms are playing a crucial role in reaching segments previously excluded from the formal financial system. Despite progress, disparities in access persist for certain demographic groups. Regulatory efforts towards Open Finance are anticipated to further enhance financial inclusion by allowing for better credit profiling and customized product offerings based on broader data access.

Changes in lending behavior and credit quality are also notable. Rising delinquency rates, particularly in consumer and SME loan portfolios, have become a significant concern in 2024 and continue into 2025. This behavioral change from borrowers directly impacts banks' willingness and capacity to extend new credit, contributing to the previously observed slow credit growth. However, projections for 2025 suggest a potential rebound in demand for lending driven by anticipated lower interest rates and an expected recovery in fixed investment and goods consumption. This indicates a potential shift in borrowing behavior if economic conditions improve as forecasted.

Customer expectations are evolving significantly, influenced by the broader digital landscape. Customers now anticipate hyper-personalized financial services delivered instantly across seamless omnichannel experiences. This demand for personalized interaction, even within digital channels, is driving banks to invest in technologies like AI and machine learning to analyze customer behavior and offer tailored products and recommendations., The perceived lack of personal connection in purely digital interactions is also influencing some customers to seek more traditional or hybrid service models or to engage with multiple financial providers.

Finally, payment behavior is gradually shifting. While cash remains prevalent, the use of digital payment methods, such as debit cards and mobile wallets, is increasing, particularly in the context of online commerce, where PSE is a leading bank transfer method., This indicates a growing customer preference for convenient electronic transactions.

These ongoing behavior changes collectively highlight a financial ecosystem in transition, driven by technological advancements, evolving customer needs and expectations, and the prevailing macroeconomic environment.

Impact of Behavior Changes on the Value Chain¶

The ongoing behavior changes identified have a direct and significant impact on the various steps and relationships within the Colombian banking value chain:

Value Chain Step	Impact of Behavior Changes
Captación (Funding)	Shift to Digital Channels: Increased use of digital platforms (e.g., Daviplata) for deposits alters the dynamics of fund collection, potentially reducing reliance on physical branches and lowering operational costs associated with traditional deposit-taking. Expanded Customer Base: Financial inclusion efforts through digital means and tailored products bring previously unbanked individuals into the formal system, increasing the potential pool of depositors., Changes in Deposit Product Demand: Demand for easily accessible digital deposit products may increase, while demand for traditional products like physical CDTs might be relatively less dynamic.
Colocación (Lending)	Increased Credit Risk Management Focus: Rising delinquency rates necessitate more stringent credit assessment and collection processes, potentially slowing down loan approval times and impacting the volume of new lending., Evolving Lending Channels: Digitalization enables online loan applications and potentially faster processing for certain loan types (e.g., microcredit), changing how lending relationships are initiated and managed. Potential for Increased Demand: Projected economic recovery and lower interest rates in 2025 could lead to higher demand for commercial and retail loans, requiring banks to adjust their lending capacity and strategies.
Gestión de Tesorería	Liquidity Management Adjustments: Changes in deposit inflows and outflows due to increased digital transactions and financial inclusion impact the volume and velocity of funds managed by treasury. Interest Rate Risk Management: The impact of macroeconomic factors on interest rates directly affects the cost of funding (Captación) and the yield on loans (Colocación), requiring active treasury management to mitigate interest rate risk and optimize net interest margins.
Servicios Financieros Especializados	Growth in Digital Service Demand: High demand for digital banking drives the expansion of services offered through apps and online platforms, including payments, transfers, and potentially digital investment or wealth management tools., Increased Competition and Innovation: The rise of Fintechs and the push for Open Finance increase competition in specialized services, encouraging traditional banks to innovate and offer more personalized and efficient digital solutions., Demand for Personalized Services: Customer expectation for hyper-personalization necessitates the use of data analytics and AI to tailor specialized service offerings (e.g., investment advice, financial planning).,

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