What Drives 53% of Singaporeans Away from Digital-Only Banking?

A plethora of technological advancements and geopolitical events repeatedly upend the banking industry. 2023 was no exception, marked by highly publicized bank failures, rising interest rates, and various global economic challenges.

Amidst these upheavals, one constant emerged: People remain content with their banks.

In the fourth iteration of the EPAM 2024 Singapore Consumer Banking Report, 9,000 retail banking consumers across nine countries were surveyed, revealing consistent satisfaction across different demographics.

However, despite this satisfaction, Singaporeans exhibit caution towards remote banking, expressing discomfort with entirely digital banking providers.

Read the full article here.

To read the full 2024 Consumer Banking Report, visit epam.com/2024-banking-report.

Learn how EPAM helps financial services companies keep pace with emerging technologies, rising customer expectations and ever-changing regulations: www.epam.com/industries/financial-services.