Online banking and digital payments are the most trusted technology services in Southeast Asia, but consumers are also the quickest to abandon them after a major security or data breach, according to a new study by Vero and Kadence International.

The Southeast Asia Consumer Tech Trust Score, which surveyed more than 3,000 consumers across six countries, gave online banking the highest trust score at 81.7, followed by digital payments at 80.4. At the other end of the spectrum, generative AI ranked as the least trusted technology category.

Nearly half (49.5 percent) of respondents identified misuse of personal data as their biggest concern, while online scams and fraud ranked among the top three concerns for 79 percent of those surveyed.

Trust can disappear quickly. About 42 percent of respondents said they would immediately stop using a platform following a serious incident, with the strongest reactions coming from the Philippines (56 percent), Malaysia (50 percent) and Singapore (48 percent).

The study also found that high usage does not necessarily mean high trust. Although social media is one of the region’s most-used digital services, it ranked among the least trusted categories across all markets.

Consumers said government approval, regulatory compliance, transparency and a proven track record are the strongest indicators that a technology company can be trusted. After a major incident, however, respondents said they trust independent cybersecurity experts more than company executives to explain what went wrong.