Populix Study: This Is The Reason Gen Z Prefers Digital Banks For Daily Transactions

Photo: Illustration of digital bank SeaBank (photo: Antara)

JAKARTA - A study from Populix shows that digital banking growth is strongly driven by Gen Z, which occupies the largest generation group in Indonesia today.

For this reason, this study sees that SeaBank is the digital bank most chosen by Gen Z with a market share of 57 percent, then followed by Bank Jago (36 percent), and Blu by BCA (26 percent).

However, specifically for respondents in the Jabodetabek area, studies found that respondents tended to use 2-3 digital bank applications to meet their daily needs.

Populix mentioned several functions of digital banks, including for the refill of e-wallet (54 peraen), interbank transfers (49 percent), shopping on e-commerce or online platforms (48 percent), and inter-account transfers (47 percent).

"Digital banks are the answer to their desire for fast, comfortable, and safe transaction activities," said Indah Tanip, VP of Research Populix in her study.

The survey also shows several factors that influence respondents in choosing digital banks, such as admin fees and low transfer fees (56 percent), promotion/discount/cashback (52 percent) programs, and bank security (50 percent).

On the other hand, easy-to-use application designs (49 percent) and flexibility in daily transactions (47 percent), are also the reasons digital banks are widely selected by Gen Z.

Then, this report states that the reason SeaBank is chosen by Gen Z the most for use in daily transactions is because the features offered include free admin fees and transfers, providing many interesting promotional programs, and having easy-to-use applications.

Meanwhile, Bank Jago was chosen because it was integrated with other applications, and Blu by BCA was chosen because of the safety of responsive applications and customer services.