Over 4 in 5 of Singapore’s affluent middle class rely on banking apps: report

The pressure is on banks to roll out loyalty incentives.

With the spending power of millennials set to rise, and the majority of customers preferring to bank digitally, it’s becoming necessary for banks and fintech players to roll out digital loyalty initiatives or risk losing their patrons.

According to a survey by the Collinson Group, financial services brands looking to engage affluent middle class customers in Asia risk being left behind if they do not meet the expectations of these valuable customers in terms of digital experiences,

The survey revealed that 55% of Singapore’s affluent middle class prefers to bank digitally, while 57% make digital payments whenever they can.
52% meanwhile, believe mobile banking is incredibly important, while 40% said they use digital wallets.
 

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!