Should every bank build a Superapp?

Summary

The question of whether every bank should build a superapp is increasingly relevant as digital banking evolves across Asia Pacific. This report, based on insights from the Bank of Tomorrow Asia Pacific Summit, explores the strategic considerations banks face when evaluating superapp development. It examines how superapps—platforms that integrate multiple financial and lifestyle services—are reshaping customer engagement, particularly in Southeast Asia. The report discusses the customer-centric approach required for banks to remain relevant, highlighting the importance of solving real customer problems and creating seamless digital experiences. Case studies, such as Siam Commercial Bank’s SCB Easy and Robinhood apps, illustrate how banks can address diverse consumer needs, from everyday banking to food delivery. The report also investigates the value of personalising digital offerings for specific demographics, such as university students, through dedicated platforms like the Smart University app. Continuous innovation, agile product roadmaps, and the ability to adapt to changing consumer behaviours are identified as critical factors for success. Readers will find analysis on the competitive landscape, the challenges and opportunities of superapp adoption, and the strategic questions banks must answer: What are the benefits and risks of building a superapp? How can banks differentiate their digital offerings? What does it take to deliver sustained value in a rapidly changing market? This report is essential for banking leaders, digital strategists, and technology partners considering the future of digital banking platforms.