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The growing base of millennials in Thailand expect intuitive, effortless and engaging digital experiences when they bank, according to research conducted by the United Overseas Bank of Thailand (UOB Thai).
UOB released the findings as it announced that Thai consumers would be the first to experience TMRW, its mobile-only digital bank built for Asean’s digital generation.
The majority of respondents said they expected their bank to be intuitive when it comes to offering services. For example, when opening a new account, millennials want the experience to be as simple as uploading a photo ID card in addition to as few online forms to fill out as possible.
One in two respondents also want their digital banking experience to be fun and engaging. Almost half (48 per cent) said they would welcome proactive intelligence from their bank to help them stay informed about spending limits and payment due dates.
The UOB survey also found that Thai millennials are yearning for a smart and simple way to help them monitor their spending habits and to cut expenses considering that almost half (45 per cent) of respondents spend more than they earn each month.