In this episode of Banking Uncovered, host Charles Green speaks to Hubert Petka, Group Director at RFI Global, about the growth and maturity of fintechs worldwide, and what’s next as the sector shifts from disruption to consolidation.

Once viewed as niche players offering sleek digital payment solutions, fintechs and neobanks are now an established part of the financial services ecosystem. Their focus is evolving from rapid customer acquisition to long-term engagement and profitability - raising questions about where future growth will come from, and how traditional banks can keep pace.

Drawing on RFI Global’s global data, they explore how the fintech landscape differs across markets, why some neobanks are thriving while others are consolidating, and which strategies are proving most effective in retaining customers in an increasingly competitive environment. They also discuss how partnerships, personalisation and innovation are helping fintechs to deepen customer relationships and capture new revenue streams, and how traditional banks have become more agile to compete.

Topics discussed include:

• How neobanks have progressed from simple payment apps to full-service providers
• The evolution of fintech growth across markets, including the UK, US, UAE and Hong Kong
• How traditional players have become more agile to respond to digital challengers, and what they need to do to thrive
• The importance of engagement tools such as Personal Financial Management (PFM) and budgeting apps
• The role of partnerships with technology firms in building credibility and trust
• How rewards and incentives have become key drivers of customer acquisition and loyalty
• The next frontiers for neobanks – from savings and investments to SME banking

Key insights include:

• 57% of the UK population now use a digital-only providers, but the big six banks still hold 80% of primary banking relationships
• Neobanks in the UK have grown their share of primary relationships from 3.5% in 2022 to 6% in 2024 – a 75% increase
• In the US, neobanks such as SoFi and Chime have captured around a third of new primary banking relationships, outpacing major incumbents relationships and Sofi has developed a similar product offering to traditional banks
• Investments and wealth management represent the next major growth opportunity for fintechs globally
• In the UAE, the market has entered wave two of neobank expansion, with Wio already holding over 10% of SME banking relationships

In this episode of Banking Uncovered, Charles Green speaks to Gourab Kundu, Citi Wealth’s head of digital growth for Asia South, based in Singapore, about the latest trends and innovations in digital wealth management and how Citi is leading the charge.

They explore how Citi is leveraging technology to deliver a seamless, secure and highly personalised experience for its wealth clients. From the mobile revolution to cybersecurity, Gaurav shares how Citi is reimagining the client journey through a hybrid model that blends digital tools with human advisory services.

Topics discussed include:

• Cybersecurity measures that protect client wealth while maintaining a frictionless experience
• The growing role of mobile apps in wealth transactions
• Citi’s approach to increasing its share of wallet among affluent clients
• Integrating digital tools with relationship managers for hybrid experiences
• Innovations in cross-border banking for mass affluent consumers
• The transformative potential of generative AI in wealth management

Key insights include:

• Over 90% of Citi’s wealth clients in Singapore use the mobile app regularly.
• RFI Global data shows banks in Singapore typically hold just 40% of their mass affluent clients’ wallets, leaving significant room for growth.
• Loyalty among mass affluent clients has improved dramatically, with switching intent dropping from 1 in 3 in 2024 to 1 in 5 in 2025.
• Satisfaction with relationship managers (RMs) is the #1 driver of poor NPS among mass affluent clients.
• Discover how Citi is redefining digital wealth management, and what is on the horizon for AI-personalisation.

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.