Press Release

  

• Positive Experience Drives User Loyalty:Over 98% of individuals and 99% of SMEs reported a positive experience with digital banks; approximately 64% of both individual and SME users have been using digital banking services for more than two years, with approximately a quarter of individual respondents using them for over four years.
• 100% Public Trust in Digital Banks:The trust levels of both individual and SME users in digital banks across various aspects, including data security and fraud prevention, remained high, similar to or even surpassing last year's levels. A remarkable 100% of SMEs expressed confidence in digital banks' data security.
• High Recognition for AI Application: Over 90% of individuals and SMEs acknowledged digital banks' forward-thinking approach in applying AI technology. Nearly 85% of the individual and nearly 99% of SME respondents believe this significantly enhances their perception of digital banks offering a "smarter and more convenient" banking experience.

 

Hong Kong, 6 November 2025 –The development of digital banking in Hong Kong has become matured, with its services not only integrated into the daily lives of citizens and the operations of small and medium-sized enterprises (“SMEs”) but also earning high user loyalty and trust through its outstanding performance in security, innovation, and user experience. The latest survey by The Hong Kong Association of Banks (“HKAB”) Digital Banking Education Taskforce (the "Taskforce") indicates that digital banks have transformed from market innovators into a key force driving industry development, demonstrating significant growth potential in areas such as Artificial Intelligence (“AI”).

The Taskforce commissioned the School of Communication at Hong Kong Baptist University to conduct an online questionnaire survey from August 13 to 26 this year, successfully interviewing 1,006 individual respondents and 205 SMEs¹. The aim was to gain a deeper understanding of the public's and SMEs' usage habits, trust levels, and future expectations regarding digital banking.

 

High User Stickiness: Digital Banks Emerge as Primary Daily Bank

The survey results show that digital banks have successfully established a solid customer base, with 66.4% of individual and 63.7% of SME users having continuously used digital banking services for over two years. Among these, 25.1% of individuals and 22.2% of SMEs have been using them for over four years. Respondents cited reasons for long-term use including digital banks becoming their primary accounts, positive user experience and convenience, and attractive offers and rewards. A high proportion of 92.9% of individuals and 98.2% of SMEs stated that digital banks meet at least 50% of their daily banking needs. Furthermore, 82.7% of individual users and a remarkable 96.5% of SME users engage with digital banking at least once a week. This indicates that the business model of digital banking has become mature, with efficient services meeting the needs of the vast majority of users.

 

Trust Built on Regulation and Transparency Drives Security Confidence to New Highs

The public holds extremely high confidence in digital banks' security measures. For measures including personal data protection, fraud prevention, and overall account security, nearly 100% of SME users and over 94.5% of individual users express trust in the data security of digital banks. This confidence stems from a clear understanding of the regulatory framework; the survey found that 70.1% of the public and 82.4% of SMEs are aware that digital banks are strictly regulated by the Hong Kong Monetary Authority (HKMA) and protected by the Deposit Protection Scheme Ordinance. Furthermore, multiple digital banks have been recognised for their performance in safeguarding user privacy, receiving awards from the Office of the Privacy Commissioner for Personal Data (“PCPD”). This reinforces their professional image in data handling and information security.

 

Innovative AI Applications Gain Broad Recognition, Powering Smart Transformation

Digital banks are recognised as a core force driving industry innovation, particularly in financial technology and AI applications. These include smart customer service, optimised transaction processes, data analysis, personalised product recommendations, savings advice, and security alerts for unusual transactions, all of which have significantly enhanced user experience and risk management capabilities. Additionally, multiple digital banks are using AI to enhance their Deepfake detection capabilities. This strengthens their ability to investigate related fraud, improves the precision of anti-fraud detection, and provides greater protection for customers. A high 92.7% of the public and 99.4% of SMEs agree that digital banks are more forward-thinking than traditional banks in adopting AI technology. The application of AI has also tangibly translated into better customer experience, with 84.9% of the public and 98.8% of SMEs stating that AI-driven services have enhanced the perception of a "smarter and more convenient" banking experience.

Gigi Wong, spokesperson for the HKAB Digital Banking Education Taskforce stated, "This survey marks a significant milestone, reflecting that in just five years, digital banks have evolved from an innovative concept into an essential platform for the everyday banking of both the public and SMEs. Over 90% of users report a positive overall experience, with the majority stating that digital banks meet most of their daily service needs. Behind this data is a profound behavioral shift. The establishment of user habits and trust demonstrates that digital banking is not merely 'viable' but is becoming mainstream. As the user base continues to expand, the industry has also begun to achieve profitability, further validating the sustainability of this operating model. This is not only a recognition of the industry's efforts but also a clear signal that the financial ecosystem is being reshaped. As digitally native financial platforms, we firmly believe that digital banks hold immense potential in areas such as AI applications, data analytics, and smart financial management. Looking ahead, we will continue to drive innovation through technology to bring more convenient and personalized financial experiences to the public and propel the comprehensive development of smart finance in Hong Kong."

¹All SME respondents were financial decision-makers for their companies

 

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Infographics of Survey Data as Attached:

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