Top 10 banks to ace money transfer journey

Summary

Customer experience in digital money transfers is a defining factor for banks across Southeast Asia, where mobile banking and real-time payment systems have become central to daily financial activity. This report examines how leading ASEAN banks—including those in Singapore, Malaysia, Indonesia, Thailand, the Philippines, and Vietnam—are shaping the money transfer journey through their digital channels. It explores the growing dominance of QR-based payments, the integration of real-time payment infrastructures like PayNow and DuitNow, and the evolving expectations for fast, secure, and intuitive transfer processes. Twimbit’s analysis benchmarks the top 10 ASEAN banks on their end-to-end money transfer experience, focusing on key parameters such as product discovery, payee management, transfer efficiency, QR payment usability, and transfer management features. The report details the evaluation pillars and sub-parameters used to assess how banks enable customers to discover transfer options, add and verify payees, complete transactions efficiently, manage recipients, and conduct QR-based payments. Readers will find insights into the digital payment landscape, the criteria that distinguish leading banks, and the challenges of delivering seamless omnichannel transfer experiences. The report addresses questions such as: Which banks offer the most intuitive money transfer journeys? What features set apart the best digital banking apps for transfers? How do banks support QR payments and real-time transfers? What are the best practices for payee management and transaction confirmation? This resource is essential for banking professionals, digital product managers, and anyone interested in the future of digital payments and customer experience in ASEAN banking.