A new regional study found that Southeast Asian consumers place the highest trust in online banking and digital payment services but are also the quickest to stop using them after serious security or service failures.

The Southeast Asia Consumer Tech Trust Score, released by Vero and Kadence International, surveyed more than 3,000 consumers across Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. It examined trust in 10 technology categories, including online banking, digital payments, e-commerce, social media, cybersecurity, telecom, and generative artificial intelligence (AI).

Online banking recorded the highest average trust score at 81.7, followed by digital payments at 80.4. However, more than half of consumers said they would be most likely to abandon these services after a major incident. Generative AI ranked the lowest or second-lowest in trust across all markets, while social media also scored relatively low despite being among the region's most-used technologies.

"Trust is probably the single most important indicator of success and the key ingredient for sustainable growth in any sector, but more so in technology," said Konwika Fikaew, Vice President for Tech Comms at Vero. She added that the study provides insights that brands, governments, and consumers can use in shaping how technology is developed, regulated, and used.

The study found that 49.5% of respondents identified misuse of personal data as their top concern, while online scams and fraud ranked among the top three concerns for 79% of respondents. Across the region, 42% said they would immediately stop using a technology brand following a serious incident. The Philippines recorded the highest share of respondents willing to quit immediately at 56%, followed by Malaysia (50%) and Singapore (48%).

"One of the patterns we've observed in the Philippines is that consumers are becoming more discerning about the technology they choose to engage with," said Lisa San Buenaventura, PR Senior Account Manager at Vero. She said consumers increasingly value transparency, accountability, and how organizations protect users' interests.

The report also found that government approval and regulatory compliance were viewed as the strongest indicators of trust in Singapore, Malaysia, and the Philippines, while Indonesian respondents placed greater importance on a company's proven track record. Consumers in Thailand and Vietnam prioritized clear explanations of how their data is used.

According to the study, consumers generally trusted independent cybersecurity experts more than company executives to explain security incidents, while Singapore was the only market where the government was considered the most trusted post-incident source. It also concluded that high technology usage does not necessarily translate to high trust, noting that convenience often keeps consumers using services even when confidence remains low.