The inaugural BankQuality™ Consumer Survey and Rankings in the Middle East interviewed 3,000 customers in three key markets in the region on their engagement, experience and satisfaction with their main retail banks.

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

Exponential leaps in artificial intelligence and its rising adoption in the financial services industry mean that some risks need to be assessed and managed along the way

Banks have been investing in AI over the last few years, focusing on specific use cases. They must now scale AI across their business processes and incorporate emerging advancements in GenAI.

Banks in Asia Pacific invested an estimated $63 billion towards technology in 2022. The annual spending on technology is expected to increase by 7.5% in 2023 to $68 billion.

While leading financial institutions are rapidly integrating GenAI into operations to enhance efficiency, challenges in model reliability, data integrity, and compliance hinder implementation and scalability.