Investments are set to increase by 18% in 2022, according to the National Banking Federation.
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According to the Central Bank, pilots for the Real Digital project should commence in the fourth quarter despite delays prompted by a strike.
Institutions are also focused on making the most out of data obtained through Open Finance, study says.
The technology will be rolled out to 10 million clients as part of the bank's strategy to boost security and shift more processes to the online channels.
The new stage will integrate non-banking services and mark the transition into open finance.
Fear of receiving too many unsolicited approaches from companies is among the main factors behind the lack of interest from consumers.
The completion of the roll-out in December will mark the start of the migration into Open Finance in the country.
After being postponed for nearly a month, the most critical phase of the project goes live.
The next phase of the implementation has been delayed in one month as institutions adapt their systems for the new model.
Financial inclusion via the national emergency aid scheme and the roll-out of instant payments are among the factors boosting adoption of mobile platforms, which account for more than half of all banking transactions in Brazil, according to research.