The inaugural BankQuality™ Consumer Survey and Rankings interviewed 11,000 bank customers in 11 markets across the Asia Pacific region on their engagement, experience and satisfaction with their main retail banks.

While the growth of Alibaba and Alipay as well as Tencent and WeChat pay in China is well known, there have been questions about whether a similar model can succeed outside of China. Local players as well as those Chinese giants themselves are starting to show that a super-app may well succeed in other markets in Asia too.

Global and regional cash management banks across Asia-Pacific are making substantial investments in digital initiatives to enhance the overall transaction experience of their clients.

Electronic channels and bank agnostic platforms are transforming traditional trade finance functions across Asia Pacific

Losses from cybercrime has increased sharply as ransomware incidents soar, ‘cybercrime as a service’ provides greater access and new threats emerge, forcing banks to implement multilayered and stronger technology enabled IT risk and security frameworks.

Consumers chose Indonesia’s Bank Central Asia as the Most Recommended Retail Bank, and DBS Singapore as Most Selected Main Bank in APAC in the 2023 BankQuality Survey

Indonesia’s Bank Central Asia, DBS Singapore, South Korea’s Toss Bank, and China’s Alipay were voted the Most Recommended Retail Bank, Most Selected Main Bank, Most Recommended Digital-only Bank and Most Recommended Platform, respectively, in the 2023 BankQuality™ Consumer Survey

Malaysian consumers voted Maybank as the Most Recommended Retail Bank, while Touch ’n Go emerged as the Most Recommended Platform in the latest BQS™

Al Rajhi Bank in Saudi Arabia remains the leading global Islamic bank, with Middle Eastern counterparts surpassing Asian ones in scale and profitability, while Asian Islamic banks exhibit stronger asset quality

The popularity of Bank Central Asia reflects a trend of traditional banks embracing digital innovation to meet customer preferences