Branch Banking Remains Crucial for 95% in Hong Kong

In the bustling financial hub of Hong Kong, consumer satisfaction with banking services remains high, driven by a blend of traditional and modern banking preferences.

Consumers remain largely satisfied with their primary bank relationships but are not putting all their eggs in one basket, actively using multiple providers across critical services.

Banks hoping to capture more customer wallet shares will need to improve their game regarding instant payments, digital concierge access, financial education, and transparent AI tools. However, the human touch still carries tremendous weight – physical branches and in-person discussions are far from obsolete in account holders’ minds.

The 2024 Consumer Banking Report by EPAM provides an insightful exploration into the dynamics of Hong Kong’s banking sector, highlighting the factors that influence consumer decisions, their shifting preferences, and how technology is forging the future of banking.

Read the full article here

To understand the emerging trends, attitudes and behaviors impacting the banking sector as well as how to turn these opportunities into revenue-generating ventures, download the full 2024 Consumer Banking Report here

Learn more about how EPAM helps financial services companies: https://www.epam.com/industries/financial-services .