CAMBRIDGE, Mass.—Consumers in Asian-Pacific countries are some of the most advanced when it comes to digital engagement with financial services, with 73% of consumers believing they should be able to accomplish any financial task on a mobile device, a new report shows.
The Forrester Research report also reveals that 77% of banking customers in Asia Pacific prefer digital channels, which are also preferred by life insurance customers in countries such as China, Thailand, India, and Australia.
In addition, Forrester found that many consumers trust payment firms and technology firms over traditional financial services providers to help them better manage their finances, Fintechnews stated in its analysis.
“While banks lead in consumers’ trust to act in the best interest of their financial well-being, a surprising cast of digital characters is not far behind. In India, Google beat out banks as the most trusted company to act in their best financial interests,” Fintechnews said.
In China, Alibaba and WeChat are slightly behind banks, and across all regions, insurers break into the top three in just two regions: Hong Kong and Malaysia, the report noted.