SINGAPORE - The rising Asian affluence has created the digitally savvy, entrepreneurial Asian customers, and banks have to work harder to attract them, said industry players at the 6th Retail Banker International Asia Trailblazer Summit on Thursday.
The event for the financial services industry focuses on innovation in the retail banking space and trends across Asia-Pacific.
"Digitally savvy, entrepreneurial Asian customers have raised their service expectations and banks are finding it ever-more challenging to cater to these demands adequately," said Mr Ruben Kempeneer, Asia-Pacific regional director at Timetric, which organised the event.
He added that the diversity and potential of the region's emerging markets also come from the rural banking population.
Major banks like Citibank Singapore and DBS Bank discussed key developments shaping the retail banking industry, which includes mobile and online banking.
The Retail Banker International Asia Trailblazer Awards will be held later on Thursday night, to recognise the efforts of retail banks.