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.
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.