ASEAN banks ace digital but fail on service consistency: study

Singapore led the six markets whilst the Philippines and Vietnam lagged.

Banks across six ASEAN countries are facing a gap between digital capabilities and service experience, according to a report by advisory firm Twimbit.

The 45 banks in the study logged a banking customer experience (CX) score of 3.13 out of 5, but only 2.57 for service. Whilst digital capabilities are well-established, service consistency and brand clarity are uneven, Twimbit said.

Amongst markets, Singapore led with an overall CX score of 3.67.

Malaysia followed, with an overall score of 3.58, then Indonesia (2.99) and Thailand (2.87).

The Philippines (2.85) and Vietnam (2.74) lag due to fragmented journeys and gaps in service consistency and trust-building, Twimbit said.

DBS, Southeast Asia’s largest digital bank, led end-to-end money transfer experience with a 4.68 score. DBS also led the region with an overall score of 4.23 across four pillars measured by Twimbit: digital, service, brand, and employee experience.

Siam Commercial Bank, Thailand’s oldest bank, got a 4.46 score in Digital savings account journeys.

Trust, a Singapore-based digital bank, got the highest digital banking score in ASEAN at 4.03.

In terms of app experience, Bank Negara Indonesia (BNI) outperformed regional peers with 3.77, according to Twimbit.