01 Mar '11, 11am

Asians now more sophisticated in handling personal finance matters: Meanwhile, almost eight-in-10 respondents al...

SINGAPORE : Asians are now increasingly more sophisticated in their handling of personal finance matters. This is according to the annual Citi Financial Quotient Survey, which shows that 52 per cent of Asian respondents believe they have a good or very good understanding of money management and personal finance matters. Citi said this is up 13 per cent since the question was last asked in 2007. Meanwhile, almost eight-in-10 respondents also think digital banking has made managing their personal finance much easier. Citi said three-quarters of respondents have been making more use of digital financial services. And one of the latest trends is using mobile phones to do day-to-day banking. The survey reveals that 61 per cent of respondents have expressed an interest in mobile phone banking. Citi said the 2010 survey involved 5,500 people across 11 countries with 500 interview...

Full article: http://www.channelnewsasia.com/stories/corporatenews/view...

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