Eight in 10 respondents (84.3%) in four countries of Southeast Asia say they either highly trust (29.3%) or somewhat trust (55.0%) fintech platforms, while 15.0% are neutral and fewer than 1% report low or no trust. The research shows that the most important factors shaping that trust are the security of financial data (reported by 71.0% of respondents), transparent fees and terms (69.6%), and brand reputation (64.5%). They are followed by regulatory oversight (64.0%), user experience (62.6%), personal recommendations (38.5%) and past personal experience (30.4%). Singapore appears to be the leader by the share of consumers who tend to trust fintech services with 91.8%. Most respondents are somewhat trusting (69.1%) while 22.1% report high trust and 8.8% are neutral. The main drivers of trust in Singapore are transparency of fees and terms (60.3%), security of financial data (58.8%), brand reputation (57.4%), regulatory oversight (55.4%) and ease of use (54.4%). 35.3% of respondents tend to trust fintech services thanks to family and friends’ recommendations, while only 28% rely on their own past experience. The Philippines shows the second highest level of trust at 88.1%. Interestingly, brand reputation is especially influential in the Philippines, where 73.8% of respondents say it affects their trust. Security and fee transparency are close behind (both 69.1%), followed by user experience (66.7%). Vietnam shows the highest share reporting high trust: 37.2% highly trust fintech and 47.4% somewhat trust it. Vietnamese respondents place the greatest emphasis on data security (76.9%), followed by transparent fees (66.7%) and user experience (60.3%). In Indonesia the trust mix includes a larger neutral segment: 29.4% highly trust, 47.1% somewhat trust and 22.4% are neutral, with 1.2% indicating no trust. Indonesian respondents are particularly focused on transparency and security - 80.0% point to transparent fees and terms and 76.5% to data security. Brand reputation and ease of use are also strong drivers. UnaFinancial analysts said, “Regional trust reflects growing familiarity supported by expanding digitalization. Differences between markets follow from infrastructure and market maturity. Singapore stands out thanks to widespread smartphone and Internet access, strong digital and financial literacy, and deep familiarity with online services that make fintech interactions routine”. Re-disseminated by The Asian Banker
