According to a survey on consumer payment behavior conducted in October 2023 in Singapore, 68 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 2023
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 19, 2024). Preference for digital versus traditional banks among consumers in Singapore in 2023 [Graph]. In Statista. Retrieved November 21, 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 2023." Chart. July 19, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1325541/singapore-preferences-towards-digital-versus-traditional-banks/
Visa Inc.. (2024). Preference for digital versus traditional banks among consumers in Singapore in 2023. Statista. Statista Inc.. Accessed: November 21, 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 2023." Statista, Statista Inc., 19 Jul 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 2023 Statista, https://www.statista.com/statistics/1325541/singapore-preferences-towards-digital-versus-traditional-banks/ (last visited November 21, 2024)
Preference for digital versus traditional banks among consumers in Singapore in 2023 [Graph], Visa Inc., July 19, 2024. [Online]. Available: https://www.statista.com/statistics/1325541/singapore-preferences-towards-digital-versus-traditional-banks/
