Capitalizing on Asia’s digital-banking boom

Capitalizing on Asia’s digital-banking boom

Internet banking is now near universal, and smartphone banking has grown more than threefold since 2011. In emerging Asian markets, the trend is similarly dynamic, with about a quarter of consumers using computers and smartphones for their banking. And despite some structural obstacles, we believe this surge will continue—and incumbents and market entrants alike should prepare for the consequences.

Drawing in digital consumers will require more than an online presence, even one that is best in class.2 Our research shows that in developed Asia, consumers value the quality of basic services, the strength of financial products, brand reputation, and the quality of customer service and experience. Among these, they are typically least satisfied with the financial products offered and with customer experience. Survey results from emerging Asia were less conclusive, indicating these markets are at the early stages in digital banking.

Our findings also show that simplicity and security are crucial aspects for online offerings.


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