Trust is tech's toughest currency as SEA consumers show little tolerance for failure

Online banking and digital payments enjoy the highest levels of consumer trust in Southeast Asia, but brands handling money and personal data also face the harshest consequences when that trust is broken, according to new regional research from Vero and Kadence International.

The findings suggest that as Southeast Asia's digital economy matures, marketers can no longer rely on adoption or frequent usage as indicators of brand strength. Instead, consumers are placing increasing value on transparency, regulatory compliance and accountability, with trust emerging as a competitive differentiator across technology categories.

The Southeast Asia Consumer Tech Trust Score, based on a survey of more than 3,000 consumers across Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, assessed trust across 10 technology sectors, including online banking, digital payments, eCommerce, social media, telecommunications and generative AI.

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Financial technology services emerged as the region's most trusted categories, with online banking recording an average trust score of 81.7, followed by digital payments at 80.4. However, they are also the categories consumers are most likely to abandon following a serious security incident, underscoring the heightened expectations placed on businesses entrusted with sensitive financial and personal data.

By comparison, telecommunications, eCommerce, messaging apps, ride-hailing services and cybersecurity occupy a relatively stable middle ground, while social media continues to lag despite its widespread use. Generative AI ranked lowest, or second-lowest, across every market surveyed, highlighting persistent scepticism towards emerging 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.

"This Tech Trust Score comes at a critical time for both tech brands and consumers, when adoption is accelerating at an exciting pace and confidence is tested at a deeper level. This offers a very clear view of where trust is strongest and where it trails, which brands, governments, and consumers can use to make better decisions about how technology is built, regulated, and used."

Data protection remains consumers' greatest concern

Security continues to dominate consumer expectations. Nearly half (49.5%) of respondents identified misuse of personal data as their biggest concern, while online scams and fraud ranked among the top three concerns for 79% of respondents across the region.

The study found consumers have little patience when those risks materialise. Some 42% said they would stop using a technology platform immediately following a serious incident.

The reaction is particularly pronounced in the Philippines, where 56% would abandon a service straight away, followed by Malaysia (50%) and Singapore (48%). Indonesia and Vietnam proved comparatively more forgiving, with most respondents preferring to pause usage until issues are resolved, while Thailand recorded the lowest immediate withdrawal rate at 30%.

Only 3% of consumers across Southeast Asia said they would continue using a service without changing their behaviour after a major incident.

According to Lisa San Buenaventura, PR senior account manager at Vero, the findings reflect changing expectations among Filipino consumers.

"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," she said.

"While adoption remains high, people are paying closer attention to the signals that build confidence: from transparency and accountability to how organisations safeguard the interests of their users. As technology becomes more embedded in everyday life, consumers expect the same level of trustworthiness they would from the institutions and services they rely on daily. Ultimately, trust is becoming a key factor in how lasting relationships between brands and consumers are built."

The research also highlights category-specific vulnerabilities. Consumers in Indonesia and Malaysia are particularly likely to withdraw from online banking and digital payment platforms following scams, data leaks or service failures, while social media platforms are especially exposed in Vietnam and Thailand.

Telecommunications providers, meanwhile, experience the slowest withdrawal response, reflecting their essential role in consumers' daily lives and the relative difficulty of switching providers.

Credibility comes from independent voices

One of the study's more notable findings is that although consumers expect chief executives and founders to take responsibility during crises, they are not regarded as the most credible voices to explain what happened.

Instead, independent cybersecurity experts emerged as the most trusted source following technology failures in four of the six markets surveyed. Singapore stood apart, with government authorities viewed as the most trusted source of post-incident information.

The report suggests that while executive visibility remains important, rebuilding trust increasingly depends on independent validation rather than corporate messaging alone.

Regulation also plays an increasingly significant role in shaping perceptions of trustworthiness.

Consumers in Singapore, Malaysia and the Philippines identified government approval and regulatory compliance as the strongest indicators that a technology company can be trusted. Indonesia differed, with respondents placing greater emphasis on a company's proven track record, while consumers in Thailand and Vietnam prioritised clear explanations of how their personal data is collected and used.

"This study reveals how critical government approval and regulatory compliance have become to building trust between consumers and tech brands," said Pongsiri Poorintanachote, managing partner at Vero Advocacy.

"Regulatory obligations are often seen as an operational burden, but this data suggests they can do more: they make a company's sense of accountability visible to consumers. In markets where people are actively looking for proof points of trust, that visibility is what earns credibility and reduces friction."

Usage no longer equals trust

Perhaps the clearest implication for marketers is the growing disconnect between product adoption and genuine consumer confidence.

Social media illustrates the trend most clearly. While approximately 79% of respondents actively use social platforms - more than double the regional average usage across categories - the sector remains among the least trusted, with an average trust score of just 67.8.

Conversely, categories such as telecommunications, cloud storage, cybersecurity, eCommerce and ride-hailing enjoy stronger trust relative to their usage levels, while online banking and digital payments combine both high adoption and high confidence.

According to Ashutosh Awasthi, director at Kadence International, brands need to look beyond engagement metrics when evaluating customer relationships.

"Usage is an important signal, but it is not a complete measure of trust," he said.

"The trust-usage gap reveals a more complex consumer relationship with technology. This gives brands a more demanding brief: they need to understand not only how often consumers use a product, but what level of confidence sits behind that behaviour. To ensure sustained growth, brands need to make consumers feel confident enough to keep relying on the product when expectations, risks, or alternatives change."

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