Case Study

Reaching the Underbanked Affluent: A High-Income Consumer Study in Singapore

About

About

The client wanted to understand the financial profile and behaviour of affluent Singapore residents earning S$10,000+ per month who remain outside existing wealth/priority banking programmes.The objective was to segment this audience by investable assets and assess their readiness for premium financial products in order to identify a clear opportunity for wealth and priority banking outreach.
Problem Statement

Identifying and Reaching an Under-represented High-Income Segment

The client needed to understand the financial profile of high-income Singapore residents outside any wealth or priority banking programme, a segment overlooked by conventional research. This meant reaching respondents earning above S$10,000 monthly, excluding anyone already enrolled in a wealth/priority programme, and segmenting qualified respondents by investable asset value into "Open Voyage" and "Premier Voyage" groups. Rigorous demographic, income, and residency screening throughout made recruitment and qualification a significant challenge.

Solution

Layered Screening for a Precisely Defined Affluent Audience

A structured screening framework verified age, residency, and monthly income above S$10,000, while filtering out anyone already enrolled in a wealth/priority banking programme. Qualified respondents were then segmented by investable asset value into "Open Voyage" and "Premier Voyage" groups, ensuring a precise, tiered sample of the affluent, non-enrolled population.

Outcome

Delivering a Precisely Segmented Affluent Consumer Dataset

200Qualified respondents surveyed across Singapore
21–64Age range covered, ensuring broad generational representation
100%Respondents verified as Singaporean citizens or Permanent Residents.
S$10,000+Monthly income threshold met by every respondent
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