3 of 5 Singaporeans prefer face-to-face banking deals

Cautious clients would not exchange banking security for convenience.

According to Nielsen Global Survey of Investment Attitudes, consumers in Singapore prefer to use online banking as well as branch banking facilities with equal intensity (both 61%).

Thirty-six percent of consumers in Singapore use online investment brokerage or investment service providers, a level which is higher compared to the Asia Pacific average (28%). More than a quarter (27%) uses a financial planner/adviser to conduct their investment transactions, while mobile phones also play a significant part in investment transactions (27%).

“The high smartphone penetration level makes these mobile devices ideal tools for investors to make swift investment transactions and capture investment opportunities on the go,” said Joan Koh, Nielsen’s Managing Director for Singapore. “As mobile banking and investment services become even more widespread, we expect to see even more consumers utilizing the mobile channels to make investment transactions.”