4 in 5 Asean consumers use AI for financial decisions, UOB survey finds

[SINGAPORE] About four in five consumers in the Asean region have made a financial decision based primarily on artificial intelligence advice or recommendations, and most of them report positive results, a UOB survey has found.

Vietnam and Indonesia consumers led the market among those with a positive outcome from AI-assisted financial decisions, according to UOB’s Asean Consumer Sentiment Study 2026, which was released on Monday (Sep 14).

Singapore had the most number of consumers who said they would not make a major financial decision based primarily on AI advice.

Digital wealth management has become mainstream, with more than 60 per cent of UOB’s new-to-wealth customers coming from digital platforms, said Jacquelyn Tan, head of group personal financial services at UOB.

“This digital adoption is here to stay, and in fact, it’s also the entry point for a lot of the young consumers to start their investing journey,” she said.

UOB’s study was conducted in June on 5,000 consumers from Singapore, Malaysia, Indonesia, Thailand and Vietnam.

In the survey, UOB found that 91 per cent of regional consumers use digital tools to manage wealth, such as to track cash flows, plan financial goals, invest, monitor their portfolios and track financial insights.

The survey also found that nearly half of consumers in the Asean region use AI daily for financial activities.

But Singapore consumers use AI for financial activities least frequently, with 38 per cent using it daily; in Vietnam, 55 per cent are daily users of AI.

SEE ALSO

UOB’s digital wealth sales, transactions jump almost 50% as clients invest more online

Singapore banks court younger customers as more climb wealth ladder

Singapore, Thailand lift Asean consumer confidence as regional outlook diverges: UOB survey

Consumers in the region use AI mostly to compare products and understand financial information. To them, the most valued AI banking features include savings goal nudges, overspending alerts and personalised investment recommendations.

The survey found, however, that banks retain an edge over AI in the trust department. Some 76 per cent of consumers trust their primary banks to act in their best interest, compared with 68 per cent for AI-powered tools such as ChatGPT.

In Vietnam, however, this gap is narrowing; 76 per cent of consumers say they trust their primary bank, compared with 72 per cent for AI-powered tools.

As financial decisions and solutions become more complex, consumers also value human advice: Some 67 per cent of regional consumers are working with or actively looking for a financial adviser.

“Where a human adviser matters, or where the support is needed, is where financial stakes are the highest,” Tan said. “Consumers do see digital tools and human advisors as complementary.”