53% of High-Income Consumers in APAC Find Bank Rewards Misaligned: Dragonpass Index

A new study by Dragonpass reveals that 53% of high-income consumers in Asia-Pacific believe their bank rewards no longer align with their lifestyle needs. The APAC Loyalty Index, which surveyed consumers across Southeast Asia and China, highlights a growing disconnect between traditional loyalty programs and modern consumer expectations.

Trust Remains Key, but Relevance Lags

While 80% of respondents stay loyal to their bank primarily due to trust and security, 28% overall say their loyalty rewards do not match their lifestyle. Among high-income earners, this dissatisfaction jumps to 53%, indicating a significant gap in value delivery for affluent segments.

Shift Toward Lifestyle and Personalization

The index shows that consumers increasingly expect rewards that are immediate, personalized, and integrated into daily life. Travel remains the most powerful retention tool, especially among younger and affluent consumers, who prefer digital concierge services, premium travel experiences, and tailored lifestyle benefits.

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John Su, Group CGO and APAC CEO of Dragonpass, noted: “The traditional loyalty model was designed around transactions, but consumers today demand something far more intuitive and integrated into their lifestyle. They expect their banks or financial providers to play an active role in their everyday lives.”

Implications for Financial Institutions

For banks, fintechs, and payment brands, loyalty is shifting from a marketing add-on to a strategic growth lever. As switching barriers fall, brands that can embed loyalty seamlessly into consumers’ lifestyles are more likely to retain high-value customers.