4 in 5 Asean consumers use AI for financial decisions, UOB survey finds
Most of these consumers report positive outcomes, even as digital wealth management goes mainstream, says the bank
A recent UOB survey reveals that four out of five Asean consumers make financial decisions based on AI advice or recommendations, with most reporting positive outcomes. Vietnam and Indonesia consumers are the most positive, while Singapore consumers are the least likely to use AI daily (38%). Digital wealth management is mainstream, with more than 60% of UOB's new-to-wealth customers coming from digital platforms.
Consumers value AI banking features like savings goal nudges, overspending alerts, and personalized investment recommendations. Despite the rise of AI, 76% of consumers still trust their primary banks to act in their best interest, with this gap narrowing in Vietnam. The survey indicates that human advice remains valuable for complex financial decisions, with 67% of consumers working with or looking for a financial adviser.
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