Hong Kong and Singapore have the best performing mobile banking apps in Asia, a global study found, though they lag behind some Western counterparts that do a better job of integrating services from partners into their apps.
The report was conducted by Sia, a Paris-based international management consulting firm. The study assessed 140 apps in 22 markets with a slate of 95 criteria, including functionality, user experience and feedback, with each receiving a score from 0 to 100. The Post got an exclusive preview of the study, the Mobile Banking Benchmark 2024, on Tuesday before it is published later this month.
Two digital lenders – Hong Kong’s Mox Bank and Trust Bank Singapore – tied for fourth in Asia with a score of 65.
“The traditional banks such as DBS and HSBC are leaders in the mobile banking sector as they are very strong in terms of functionality,” he said. “This is because they have long-standing banking experience that they can leverage to offer a wide range of functionality in their mobile banking apps for their clients.”
“The digital banks such as Trust, Mox and ZA are outperforming DBS and HSBC in terms of user experience, but they are lagging on … functionality.”
