According to a survey on consumer payment behavior conducted in October 2022 in Singapore, 74 percent of respondents preferred traditional banks as their principal banking institutions over digital ones. Traditional banks have been preferred for safety, reliability, and positive customer experiences.
Preference for digital versus traditional banks among consumers in Singapore in 2022
Characteristic
Share of respondents
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among consumers in Singapore, Malaysia, Thailand, Indonesia, the Philippines, Vietnam, and Cambodia
Supplementary notes
The survey was conducted among 6,550 consumers in Southeast Asia, including Singapore.
The report did not provide the number of respondents in each country.
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Visa Inc.. (July 17, 2023). Preference for digital versus traditional banks among consumers in Singapore in 2022 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1325541/singapore-preferences-towards-digital-versus-traditional-banks/
Visa Inc.. "Preference for digital versus traditional banks among consumers in Singapore in 2022." Chart. July 17, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1325541/singapore-preferences-towards-digital-versus-traditional-banks/
Visa Inc.. (2023). Preference for digital versus traditional banks among consumers in Singapore in 2022. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1325541/singapore-preferences-towards-digital-versus-traditional-banks/
Visa Inc.. "Preference for Digital versus Traditional Banks among Consumers in Singapore in 2022." Statista, Statista Inc., 17 Jul 2023, https://www.statista.com/statistics/1325541/singapore-preferences-towards-digital-versus-traditional-banks/
Visa Inc., Preference for digital versus traditional banks among consumers in Singapore in 2022 Statista, https://www.statista.com/statistics/1325541/singapore-preferences-towards-digital-versus-traditional-banks/ (last visited July 22, 2024)
Preference for digital versus traditional banks among consumers in Singapore in 2022 [Graph], Visa Inc., July 17, 2023. [Online]. Available: https://www.statista.com/statistics/1325541/singapore-preferences-towards-digital-versus-traditional-banks/