According to a recent survey, three quarters of Malaysians remain optimistic about their long-term financial wellbeing, despite a decline in the overall perception of financial inclusion compared with last year.

This research by the Principal Financial Group analyses individuals’ perceptions of financial inclusion based on support provided by employers, the government, and the financial system.

Financial inclusion refers to the degree to which individuals and businesses have access to useful and affordable financial products and services – transactions, payments, savings, credit and insurance – that meet their needs, delivered in a sustainable and responsible way.

According to the results, 69% of Malaysians report feeling financially included, marking a decline from 78% last year. This shift in sentiment aligns with global trends: this year, overall perceptions of financial inclusion have fallen in 39 out of 41 surveyed markets.

Of the three pillars driving financial inclusion, employers are seen as the most helpful. Over 70% of Malaysians say their employer plays a helpful role in driving financial inclusion, followed closely by the financial system (69%), and the government (68%).

The research also explores attitudes towards financial education and retirement preparedness. More than half (57%) of working Malaysians agree that their employer provides access to high-quality resources that help with financial education, while 55% believe their employer offers support for a smooth transition into retirement.

With the pandemic having accelerated Malaysia’s digital transformation journey, 85% of respondents say they can make secure online transactions with ease.

Additionally, 69% express confidence in the security of their financial data, while 72% feel they have access to the necessary tools to build a financially secure retirement.

Finally, 70% of Malaysians believe the use of artificial intelligence in financial services will give them better access to a range of tools to help with their money.