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Mass Affluent Banking in the ASEAN Region 2024

Publisher GlobalData
Published May 31, 2024
Length 63 Pages
SKU # GBDT18941511

Description

Mass Affluent Banking in the ASEAN Region 2024 Summary This report analyzes the ASEAN region's mass affluent market. This includes overall mass affluent market size (number of individuals) and their distribution in the region. The report provides analysis of the factors driving affluence and examines mass affluent individuals’ financial goals, banking patterns, investment preferences, and insurance preferences. The report also covers the region's competitor benchmarking and case studies. The mass affluent and emerging affluent continue to grow in the ASEAN region, boosting spending at a retail level as well as opening more opportunities for banks to offer investment services. Additional growth drivers include the increase in regional integration, the slowing Chinese economy, and Singapore’s safe-haven status. This report provides crucial insights into the behavior of mass affluent customers, empowering banks to tailor their offerings effectively. By leveraging data on market sizes and growth projections for ASEAN markets, banks can strategically attract and cater to this lucrative demographic, enhancing their competitiveness and profitability. Scope - Indonesia, Thailand, and Singapore have the largest mass affluent base in the ASEAN region despite widely different populations. - Face-to-face interactions remain important to ASEAN investors, highlighting that in-branch/premier lounge services are still required. - Malaysia has a highly competitive mass affluent segment, with international banks such as HSBC and UOB building significant market shares in the country. Reasons to Buy - Understand how consumer preferences vary between different customer demographics. - Access the latest consumer survey data on channel behavior, provider preferences, and product holdings. - Identify the areas for improvement that matter to particular consumers. - Benefit from the provision of actionable steps that can help your business target specific customer profiles.

Table of Contents

63 Pages
  • Executive summary
    • The ASEAN mass affluent population grew by 2.4% in 2023e
    • Growth drivers
    • Regional breakdown
    • The affluent population in Cambodia
    • The affluent population in Indonesia
    • The affluent population in Malaysia
    • The affluent population in the Philippines
    • The affluent population in Singapore
    • The affluent population in Thailand
    • The affluent population in Vietnam
    • Financial attitudes
    • Financial goals
    • Research methods
    • How valuable are mass affluent customers?
    • Credit penetration
    • Mortgage preferences
    • Insurance penetration
    • Premium accounts
    • Overall banking channel usage
    • Mass affluent customers' preferred provider of new products
    • DBS Treasures debit card
    • How valuable are mass affluent investors?
    • Investment penetration
    • Investment preferences
    • Investors' preferred method of investing
    • Illiquid investment product penetration
    • Offshore investment drivers
    • Provider preferences for new investments
    • Maybank Premier investment services
    • Market shares for key banking products
    • Customer tenure and NPS by provider
    • Cross-selling and bundling
    • Market shares for key banking products
    • Customer tenure and NPS by provider
    • Cross-selling and bundling
    • Market shares for key banking products
    • Customer tenure and NPS by provider
    • Cross-selling and bundling
    • Market shares for key banking products
    • Customer tenure and NPS by provider
    • Cross-selling and bundling
    • UOB Privilege banking
    • Market shares for key banking products
    • Customer tenure and NPS by provider
    • Cross-selling and bundling
    • Market shares for key banking products
    • Customer tenure and NPS by provider
    • Cross-selling and bundling in Vietnam
    • HSBC Premier account
    • Methodology
    • Secondary sources

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