Bankinter launches its fourth CFO Frontline Report on AI in finance, highlighting it as a growing strategic advantage. “”
The bank has organised the CFO Forum in Bilbao, a space aimed at chief financial officers of Spanish corporates.
The study showcases the drive for digital transformation being promulgated by corporate finance departments, which is already the second most important area of action after treasury management, according to 47% of the CFOs surveyed.
Bankinter has published the fourth “CFO Frontline Report”, which it presented at the CFO Forum, a space specifically aimed at CFOs from the Spanish business ecosystem. The event was opened by Maite Cañas, Bankinter's Head of Business Banking, in Bilbao, and was also attended by Jacobo Díaz, Head of the Finance and Digital Banking Area, and Javier Hernández Bermejo, Territorial Director of the Bank's Northern Division.
In this edition, the report focuses on AI in finance as a strategic advantage. So much so that almost half of the 190 CFOs surveyed for this report—specifically, 47.37%—place AI as the second focus of action within their area, after treasury management. This figure compares with 43.23% in the 2023 study. That year, the second focus of action was growth support, scenario generation and analysis, which now ranks third, demonstrating how the role of AI in companies has evolved.
Further reinforcing this finding is the fact that 22.11% of the CFOs surveyed cited the “general drive for technology” as a key focal point, a significant 12.50% up on the previous year.
The “Gaining in operational efficiency” priority action also grew significantly, rising from 16.15% to 26.84%, showing how technology plays a key role in optimising financial processes.
This drive towards digitalisation, coupled with technological efficiency, reflects a strategic shift in the role of a CFO, who now handles more than just the financial management of the company.
Investing in technology
Aware that growth in technology must be accompanied by investment, 76% of CFOs say their company will invest in this area in the next three years, especially in large corporations and with greater emphasis on the transportation sector.
The report also highlights that the AI application that is having the greatest impact in financial areas is cybersecurity, which seems to indicate that companies are prioritising security and confidentiality, limiting both the use of unencrypted AI tools and their widespread integration into business processes.
This study is part of the wider CFO Forum initiative, which has its own space on the Bankinter website. The bank launched this space through Large-corporate Banking to create a meeting space for chief financial officers and professionals from these departments to provide them with knowledge and useful tools.
