Online banking takes off in Asia

Physical importance: Despite online banking becoming more and more popular, bank customers still look to traditional services like ATMs and branches.

Asian consumers are moving quickly into digital banking and have a clear view of what digital features they are seeking, according to McKinsey’s latest findings which revealed banking through desktops, smartphones, and tablets has become more common in both developed and emerging Asia.

The McKinsey Personal Financial Services Survey on personal financial service usage and behaviour found that digital consumers represent a sizable population in most markets with nearly 700 million digital banking consumers across Asia, notably in China and India.