Chart of the day: ATM frequenters are keen on using mobile banking

Trust is amongst key considerations for customers to switch to mobile banking.

This chart from UOB shows the relationship between the intention to adopt mobile banking and the frequency of when they use ATMs.

The chart revealed that more frequent users of ATMs are the most eager to adopt mobile banking.

“Individuals who use ATMs and visit bank branches frequently have expressed a strong desire to adopt digital banking but have not done so. This is the segment that banks need to focus their efforts. Trust ranks first among key considerations on whether customers will adopt digital banking,” Dr. Reuben Ng, Assistant Professor at the Lee Kuan Yew School of Public Policy and Principal Investigator of the study said.

The inaugural national survey on digital inclusion and resilience conducted by Lee Kuan Yew School of Public Policy (LKYSPP) in partnership with UOB also revealed that most Singaporeans still frequent banks and ATMs despite digital services being made available.