In Asia Pacific, consumers have a myriad digital banking services and digitalisation is continuously embraced by many. According to a survey conducted by McKinsey, digital banking penetration in the region is close to 90% and approximately 80% of consumers expect to maintain or increase use of digital banking beyond the pandemic. Most consumers are also open to buying financial products via digital channels.
Digitalisation in the banking industry isn’t new, yet we have experienced immense “tech-celeration” in the last two years to last a lifetime and pandemic-induced changes in consumer behaviours that will never return to the way it was.
Most tech-savvy consumers do not regularly walk into a bank anymore, technology provides consumers with convenient and quick access to banking services.
