Singapore consumers are willing share email address and phone number with chatbots but least likely to give card security number

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Latest data from YouGov shows that across APAC, consumers in Singapore are least likely (after Australians) to choose a chatbot over human assistance for personal banking needs, with two in five consumers (41%) expressing reluctance. A quarter (24%) are unsure of their decision, and almost three in ten (28%) are likely to choose a chatbot over human support.

Among the various banking services, a quarter of Singapore consumers (24%) tend to use chatbot services to check their balances and transaction history. Simple transactions or payments is the next area where they have taken chatbot assistance (at 21%), followed by getting branch details information and receiving notifications and reminders (12% each).

Among those who do not use a personal banking chatbot, not seeing a need to use remains a top reason why an individual has not interacted with a chatbot in a personal banking service request (28%), followed by preference for human interaction (17%).

When it comes to sharing personal information, email address is the most likely personal information that individuals are willing to share with a chatbot (at 39%), while credit card security number is the least likely information an individual would choose to do so, considering the likely risk in personal data security.

Around a third are comfortable sharing details such as full name (36%) and phone number (32%), and a quarter are fine to part with date of birth details (26%). In comparison to this, consumers in Singapore are less likely to share banking details such as credit or debit card number and bank account numbers (11% each).

The data shows interesting differences among the different age groups. While millennials seem more comfortable than others in sharing personal banking details, Genz are most relaxed about sharing personal identification information such as email, name and number. Among all the generations, baby boomers are most reluctant to share any kind of personal details with chatbots.

**Results based on a survey of 1097 adults in Singapore in May 2023.

Image: Pixabay 

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