Wealth is rising rapidly across Asia, in both the number of affluent consumers and the value they hold. In this episode of Banking Uncovered, Charles Green speaks to Stefano Colombu, Managing Director of Asia at RFI Global, about the surge in mass affluent consumers across APAC, what drives their financial decisions, and how their money moves across borders.

From the booming China–Hong Kong corridor to the growing importance of Singapore and the UAE, they unpack how affluent and high-net-worth consumers are reshaping the regional banking landscape, and what banks must do to attract and retain them. They explore the rise of digital-only banks, the evolving role of relationship managers, and how regulations and AI are influencing investor behaviour and expectations.

These insights are fuelled by RFI Global’s data from over 40,000 interviews across 8 APAC markets and 50 cross-border wealth corridors.

In this episode, we discuss:

• The growth in affluence in Asia: The demographic and economic forces behind the rise of affluent consumers across the region.
• The rise of emerging affluents: Why banks should pay attention to this growing segment and how their behaviours differ.
• Cross-border banking motivations: They explore what is driving the trends in cross-border corridors and the behaviour of affluent consumers.
• Wealth hub dynamics: The importance of China, and how Singapore and UAE are gaining ground on the US as preferred destinations for Asian investors. 
• Share of wallet trends: Why consumers look beyond local players to global banks as their wealth increases, and how fintechs and digital-only banks perform.
• The future of AI in banking: Asian consumers’ expectations and experiences with AI and how to gain their trust.
• Balancing digital and human touch: How to get the balance right. Mass affluent consumers want seamless digital experiences but still value proactive relationship managers.