Financial wellbeing has emerged as the leading life priority for 57% of Asia Pacific consumers, surpassing health and wellbeing (49%) and family and relationships (48%), according to a new report by Personetics. The company, a global leader in Cognitive Banking services, has expanded its reach to 25 million users in the region.
The survey, which included 2,000 consumers with a quarter from Asia Pacific countries such as Australia, Japan, the Philippines, Singapore, and Vietnam, highlights the growing importance of financial wellbeing. Notably, Gen Z respondents in the region, aged 17-27, show a higher prioritisation of financial wellbeing at 65%, with 85% expressing strong interest in related services.
A significant 80% of Asia Pacific consumers indicated they would switch banks to receive more timely financial advice, with Gen Z leading this trend. This underscores the need for banks to offer personalised, AI-driven insights to retain and attract customers, particularly younger demographics.
Udi Ziv, CEO of Personetics, stated, “This survey is further evidence of what forward-looking banks in the region already understand: that they cannot afford to be complacent about consumer loyalty and that AI-driven personalisation is critical to customer satisfaction and business growth.”
Despite a lower trust level in financial advice from banks compared to Europe and North America, Asia Pacific consumers are increasingly embracing AI-driven financial insights, with many seeking features like double-billing alerts and savings nudges. Personetics continues to innovate with products like PrimacyEdge, aimed at enhancing customer loyalty and financial engagement.
