APAC banks excel in digital adoption, yet branches remain essential

Key takeaways:

  1. APAC leads in digital transformation, outpacing Europe by a median of 4.5%, particularly in investment and consumer finance
  2. Digital adoption differs by product type, with the highest growth seen in lower-risk offerings like investments and savings
  3. Consumers prefer consistent platforms to research and manage simpler financial products
  4. Branches will persist, focusing on sales and complex services like mortgages despite a potential decline in their numbers
  5. Adoption rates vary significantly within APAC based on country-specific factors and urban versus rural settings

Source: https://www.kearney.com/industry/financial-services/article/apac-banks-lead-digital-adoption-but-branches-aren-t-going-extinct-yet