Spanish banking is preparing for a new phase of technological investment focused on artificial intelligence (AI) and the integration of services on digital platforms. The investment of the ten largest banks reached €5.578 billion in 2025 and could exceed €8 billion by 2031. The study Artificial Intelligence and Platformization in Spanish Banking: Adoption, Impact and Monitoring of the Business Model, published today by Funcas, analyses its implications for banking activity and competition.
The new phase of digitalisation goes beyond online banking and mobile applications and reaches credit granting, internal processes, and risk management. "The challenge is not just to incorporate artificial intelligence, but to turn technological investment into effective improvements in productivity and service, preserving security, transparency, and customer trust," notes Francisco Rodríguez, Director of Financial Studies at Funcas.
The degree of AI adoption among the ten largest Spanish banks increased by 32% between 2021 and 2025. Although larger entities still show a higher level of adoption, medium-sized banks are making relatively more intense progress and partially closing the gap. Usage is particularly concentrated in automated credit risk assessment (scoring), automated operations, and operational assistance.
The analysis finds an association between higher AI adoption and better indicators of operational efficiency, lower default rates, and higher intermediation margins. This relationship does not establish causality, as the size of the entities may influence both technological adoption and banking results. The relationship with profitability is also more moderate and heterogeneous. Internal development accounts for 51% of AI incorporation strategies, compared to 35% from external purchase or licensing and 14% from alliances.
Spanish banking maintains an AI adoption rate above the European average, but the gap is narrowing. The relative indicator of the study fell from 1.44 in 2021 to 1.19 in 2025, while adoption was also increasing in Spain. This convergence reflects the acceleration of other European countries.
The total technological investment of the ten largest Spanish banks increased from €2.313 billion in 2014 to €5.578 billion in 2025, multiplying by 2.4. Its share of operating expenses rose from 4.49% to 8.71%.
By 2025, 77.6% of internet users, nearly 25 million people, frequently used digital banking, and about 5.1 million contracted some financial product or service online.
Competition is also changing. Neobanks and exclusively digital entities managed 15.55% of bank accounts in 2024, up from 11.92% in 2014. The ability to integrate technology, data, and services thus acquires greater competitive relevance.
