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TOTAL PLAY ANNOUNCES REVENUE OF Ps.11,360 MILLION AND EBITDA OF Ps.5,074 MILLION IN THE SECOND QUARTER OF 2026

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—The increase of 121,572 net subscribers for Totalplay Residential reflects strong demand for the company’s technologically advanced internet services—

 —EBITDA less Capex and interest reached Ps.769 million in the period—

—Debt with cost is reduced by 5%,

further strengthening Total Play’s capital structure—

MEXICO CITY, July 27, 2026 /PRNewswire/ — Total Play Telecomunicaciones, S.A.P.I. de C.V. (“Total Play”), a leading telecommunications company in Mexico, which offers internet access, pay television and telephony services, through one of the largest 100% fiber optic networks in the country, announced today financial results for the second quarter of 2026.

“The solid increase of 121,572 net subscribers for Totalplay Residential in the quarter — which results from strong demand for our technologically advanced internet services — was consistent with the optimization of the use of our fiber optic network, which allowed us to increase the number of users without additional investment in geographic coverage, supporting the performance of the company’s financial results,” commented Eduardo Kuri, CEO of Total Play.

“Regarding the balance sheet, we reduced Total Play’s debt with cost by 5%, as a result of various amortizations during the period, including US$31 million of the Senior Secured Notes due 2028, which were paid in the first half of the year according to their amortization schedule, and US$56 million of the remaining Senior Notes due 2025, which were paid in the fourth quarter of the previous year,” Mr. Kuri added. “Similarly, we reduced trade payables by 9% and lease liabilities by 26%, which further strengthened the company’s capital structure.”

Second quarter results 

Revenue for the quarter was Ps.11,360 million, compared to Ps.11,551 million for the same period of the prior year. Total costs and expenses were Ps.6,286 million from Ps.6,152 million in the prior year.

As a result, Total Play’s EBITDA was Ps.5,074 million, compared to Ps.5,399 million a year ago; EBITDA margin for the quarter was 45%. The company reported operating profit of Ps.654 million, up from Ps.495 million a year earlier.

Total Play reported a net loss of Ps.362 million, compared to a net income of Ps.180 million in the same quarter of 2025.

   Q2 2025 

   Q2 2026 

  Change 

Ps. 

%

Revenue from services 

$11,551

$11,360

$(191)

(2) %

EBITDA  

$5,399

$5,074

$(325)

(6) %

Operating income

$495

$654

$159

32 %

Net result 

$180

$(362)

$(542)

—-

Amounts in millions of pesos.

EBITDA: Earnings before interest, taxes, depreciation, and amortization.

Revenue from services 

The company’s revenue decreased 2%, as a result of 1% growth in residential segment sales and a 16% reduction in enterprise revenue.

Totalplay Residential’s revenue increased to Ps.9,983 million, up from Ps.9,906 million the previous year, linked to a 6% increase in the number of the company’s service subscribers compared to the same quarter of the previous year, reaching 5,675,946 this period — a figure that includes 68,314 small and medium-sized businesses. Compared to the previous quarter, the subscriber base increased by 121,572 users. The company believes that the number of users achieved this quarter reflects its remarkable ability to offer technologically advanced internet services — with superior stability and speed — continuous innovation in its entertainment platform, and service excellence.

Average revenue per subscriber (ARPU) for the quarter was Ps.580, down from Ps.607 a year ago. The decline in ARPU is largely due to a growing proportion of double-play subscribers compared to triple-play users within the total residential subscriber base.

The number of homes passed by Total Play in Mexico at the end of this period was 19.5 million, up from 17.6 million a year ago.

Penetration — the proportion of homes passed by Total Play that have the company’s telecommunications services — was 29.1% at the end of the quarter, compared to 30.4% a year ago.

Revenue from the enterprise segment was Ps.1,377 million, from Ps.1,645 million in the previous year. The reduction is due to predetermined duration projects that were completed during this period.

Costs and expenses 

Total costs and expenses increased 2%, as a result of a 3% increase in service costs and a 2% increase in general expenses.

The increase in costs, to Ps.1,677 million, from Ps.1,630 million in the previous year, resulted mainly from higher costs related to memberships, maintenance and support, partially offset by lower costs related to business projects and reduced content costs, as a result of a higher proportion of double play users in the residential service subscriber mix.

The increase in expenses, to Ps.4,609 million, from Ps.4,522 million, reflects higher personnel, advertising and promotion expenses during the period.

EBITDA and net result 

Total Play’s EBITDA was Ps.5,074 million, compared to Ps.5,399 million the previous year.

Relevant variations below EBITDA were the following:

A reduction of Ps.484 million in depreciation and amortization, as a result of the termination of the useful life of a group of assets.

A decrease of Ps.1,219 million in exchange gains, as a result of a net liability monetary position in foreign currency, in conjunction with a lower appreciation of the peso against the basket of currencies in which the company’s monetary liabilities are denominated this quarter, compared to the previous year.

Consistent with the results of the quarter, there was a decrease of Ps.534 million in the tax provision for the period.

Total Play reported a net loss of Ps.362 million, compared to a net income of Ps.180 million in the same period of 2025.

Balance sheet

As of June 30, 2026, the company’s debt with cost was Ps.54,194 million, 5% lower than the Ps.57,030 million of the previous year. This reduction resulted from various debt with cost amortizations during the period, including US$31 million of Senior Secured Notes due 2028, paid in the first half of the year, and US$56 million of the remaining Senior Notes due 2025, paid in November of the previous year.

Lease liabilities were Ps.2,595 million, 26% lower compared to Ps.3,503 million in the previous year.

Cash and cash equivalents, as well as restricted cash in trusts, totaled Ps.6,270 million, from Ps.7,416 million a year ago. As a result, the company’s net debt was Ps.50,519 million, 5% lower compared to Ps.53,117 million in the previous year.

The debt ratio — Net Debt / EBITDA of the last two quarters annualized — was 2.55 times.

Total Play’s fixed assets — which include accumulated investment in fiber optics, telecommunications equipment and subscriber acquisition costs, among other assets — were Ps.78,001 million, compared to Ps.84,216 million a year ago.

Six-month results

Revenue for the first six months of 2026 was Ps.22,537 million, 1% higher than Ps.22,393 million of the previous year, as a result of a 2% increase in residential revenue and a 7% decrease in enterprise revenue. Total costs and expenses grew 6% to Ps.12,614 million, from Ps.11,912 million, driven by a 7% increase in general expenses and a 4% increase in service costs.

Total Play reported EBITDA of Ps.9,923 million, compared to Ps.10,481 million in the previous year; EBITDA margin for the period was 44%. Operating profit was Ps.954 million, down from Ps.1,257 million in the same period of 2025.

The company recorded net loss of Ps.1,689 million, compared to net loss of Ps.1,781 million a year ago.

   6M 2025

   6M 2026

   Change

Ps.

%

Revenue from services

$22,393

$22,537

$144

1 %

EBITDA      

$10,481

$9,923

$(558)

(5) %

Operating income

$1,257

$954

$(303)

(24) %

Net result

$(1,781)

$(1,689)

$92

5 %

Amounts in millions of pesos.

EBITDA: Earnings before interest, taxes, depreciation, and amortization.

About Total Play

Total Play is a leading Triple Play provider in Mexico that, thanks to the widest direct-to-home fiber optic network in the country, offers entertainment and technologically advanced services with the highest quality and speed in the market. For the latest news and updates about Total Play, visit: www.totalplay.com.mx.

Total Play is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community well-being; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. Each of the Grupo Salinas companies operates independently, with its own management, board of directors, and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values, and strategies for achieving rapid growth, superior results, and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Total Play and its subsidiaries are presented in documents sent to the securities authorities.

 

Investor Relations:

Bruno Rangel

Rolando Villarreal

+ 52 (55) 1720 9167

+ 52 (55) 1720 9167

jrangelk@totalplay.com.mx

rvillarreal@totalplay.com.mx

Press Relations:

Luciano Pascoe

Tel. +52 (55) 1720 1313 ext. 36553

lpascoe@gruposalinas.com.mx

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.

Consolidated Quarterly Income Statements

(Millions of Mexican pesos)

2Q 25

2Q 26

Change

$

%

$

%

$

%

Revenue from services

11,551

100 %

11,360

100 %

(191)

(2 %)

Cost of services

(1,630)

(14 %)

(1,677)

(15 %)

(47)

(3 %)

Gross profit

9,921

86 %

9,683

85 %

(238)

(2 %)

General expenses

(4,522)

(39 %)

(4,609)

(41 %)

(87)

(2 %)

EBITDA

5,399

47 %

5,074

45 %

(325)

(6 %)

Depreciation and amortization

(4,904)

(42 %)

(4,420)

(39 %)

484

10 %

Operating profit 

495

4 %

654

6 %

159

32 %

Financial cost:

     Interest revenue

60

1 %

30

0 %

(30)

(50 %)

     Accrued interest expense

(1,745)

(15 %)

(1,568)

(14 %)

177

10 %

     Change in fair value of financial instruments

(98)

(1 %)

(4)

(0 %)

94

96 %

     Other financial income

299

3 %

42

0 %

(257)

(86 %)

     Foreign exchange gain – Net

1,947

17 %

728

6 %

(1,219)

(63 %)

463

4 %

(772)

(7 %)

(1,235)

—

Profit (loss) before income tax provisions

958

8 %

(118)

(1 %)

(1,076)

—

Income tax provision

(778)

(7 %)

(244)

(2 %)

534

69 %

Net profit (loss) for the period

180

2 %

(362)

(3 %)

(542)

—

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.

Consolidated Accumulated Income Statements

(Millions of Mexican pesos)

6M 25

6M 26

Change

$

%

$

%

$

%

Revenue from services

22,393

100 %

22,537

100 %

144

1 %

Cost of services

(3,227)

(14 %)

(3,340)

(15 %)

(113)

(4 %)

Gross profit

19,166

86 %

19,197

85 %

31

0 %

General expenses

(8,685)

(39 %)

(9,274)

(41 %)

(589)

(7 %)

EBITDA

10,481

47 %

9,923

44 %

(558)

(5 %)

Depreciation and amortization

(9,224)

(41 %)

(8,969)

(40 %)

255

3 %

Operating profit 

1,257

6 %

954

4 %

(303)

(24 %)

Financial cost:

     Interest revenue

116

1 %

60

0 %

(56)

(48 %)

     Accrued interest expense

(3,516)

(16 %)

(3,149)

(14 %)

367

10 %

     Change in fair value of financial instruments

(1,022)

(5 %)

(7)

(0 %)

1,015

99 %

     Other financial income

102

0 %

74

0 %

(28)

(27 %)

     Foreign exchange gain – Net

1,906

9 %

579

3 %

(1,327)

(70 %)

(2,414)

(11 %)

(2,443)

(11 %)

(29)

(1 %)

Loss before income tax provisions

(1,157)

(5 %)

(1,489)

(7 %)

(332)

(29 %)

Income tax provision

(624)

(3 %)

(200)

(1 %)

424

68 %

Net loss for the period

(1,781)

(8 %)

(1,689)

(7 %)

92

5 %

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.

Consolidated Statements of Financial Position

(Millions of Mexican pesos)

As of June 2025

As of June 2026

Cambio

$

%

$

%

$

%

ASSETS

Current Assets:

   Cash and cash equivalents

4,509

4 %

4,442

5 %

(67)

(1 %)

   Restricted cash in trusts

2,907

3 %

1,828

2 %

(1,079)

(37 %)

   Customers – net

2,958

3 %

3,082

3 %

124

4 %

   Recoverable taxes

2,890

3 %

2,290

2 %

(600)

(21 %)

   Inventories

2,257

2 %

2,086

2 %

(171)

(8 %)

   Derivative financial instruments 

4

0 %

–

0 %

(4)

(100 %)

   Other current assets

791

1 %

895

1 %

104

13 %

Total current assets

16,316

15 %

14,623

15 %

(1,693)

(10 %)

Non-Current Assets:

   Property, plant and equipmente – Net

84,216

80 %

78,001

81 %

(6,215)

(7 %)

   Rights-of-use assets -Net

2,434

2 %

1,515

2 %

(919)

(38 %)

   Trademarks and other assets

2,444

2 %

2,459

3 %

15

1 %

Total non-current assets

89,094

85 %

81,975

85 %

(7,119)

(8 %)

Total assets

105,410

100 %

96,598

100 %

(8,812)

(8 %)

LIABILITIES AND STOCKHOLDERS’ EQUITY

Short-Term Liabilities

   Financial debt

6,814

6 %

5,856

6 %

(958)

(14 %)

   Lease liabilities

2,131

2 %

1,645

2 %

(486)

(23 %)

   Trade payables

11,356

11 %

10,345

11 %

(1,011)

(9 %)

   Reverse factoring

1,349

1 %

165

0 %

(1,184)

(88 %)

   Other short-term liabilities

2,906

3 %

2,848

3 %

(58)

(2 %)

Total short-term liabilities

24,556

23 %

20,859

22 %

(3,697)

(15 %)

Long-Term Liabilities

   Financial debt

50,216

48 %

48,338

50 %

(1,878)

(4 %)

   Lease liabilities

1,372

1 %

950

1 %

(422)

(31 %)

   Employee benefits

109

0 %

158

0 %

49

45 %

   Deferred income tax

13,728

13 %

13,528

14 %

(200)

(1 %)

Total long-term liabilities

65,425

62 %

62,974

65 %

(2,451)

(4 %)

Total liabilities

89,981

85 %

83,833

87 %

(6,148)

(7 %)

EQUITY:

   Capital stock

8,201

8 %

8,060

8 %

(141)

(2 %)

   Retained earnings

(15,656)

(15 %)

(15,958)

(17 %)

(302)

(2 %)

   Other comprehensive income

22,884

22 %

20,663

21 %

(2,221)

(10 %)

Total equity

15,429

15 %

12,765

13 %

(2,664)

(17 %)

Total liabilities and equity

105,410

100 %

96,598

100 %

(8,812)

(8 %)

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.

Consolidated Statements of Cash Flows

(Millions of Mexican pesos)

6M 25

6M 26

$

$

Operating activities:

Net loss

(1,781)

(1,689)

    Income tax

624

200

Loss before income tax provision

(1,157)

(1,489)

Items not requiring the use of resources:

    Depreciation and amortization

9,224

8,969

    Employee benefits

17

20

Items related to investing or financing activities:

    Accrued interest income

(116)

(60)

    Accrued interest expense 

3,516

3,149

    Other financial transactions

921

(66)

    Unrealized exchange gain 

(2,120)

(436)

10,285

10,087

Resources (used in) generated by operating activities:

   Customers and unearned revenue

160

76

   Other receivables

–

2

   Related parties, net

(167)

(224)

   Taxes to be recovered

828

263

   Inventories

451

460

   Advance payments

(211)

(208)

   Trade payables

(2,418)

(799)

   Other payables

105

311

Cash flows generated by operating activities

9,033

9,968

Investing activities: 

   Acquisition of property, plant and equipment

(5,298)

(5,212)

   Other assets

14

–

   Collected interest

116

60

Cash flows used in investing activities

(5,168)

(5,152)

Financing activities:

   Loans (paid) received

2,989

(554)

   Leasing cash flows

(1,349)

(835)

   Restricted Cash in Trusts

(519)

(65)

   Reverse factoring

(241)

(193)

  Interest payment

(3,591)

(3,059)

Cash flows used in financing activities

(2,711)

(4,706)

Net increase in cash and cash equivalents

1,154

110

Cash and cash equivalents at the beginning of the year 

3,355

4,332

Cash and cash equivalents at the end of the year 

4,509

4,442

 

 

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SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.

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California Energy Commission, California Public Utilities Commission and Rajasthan Electricity Regulatory Commission Sign Landmark Memorandum of Intent to Advance Clean Energy Collaboration

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25 minutes ago

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July 28, 2026

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ISGF Facilitated Strategic Partnership to Accelerate Renewable Energy Integration, Grid Modernization, Energy Storage and Transportation Electrification between California and Rajasthan

NEW DELHI, July 28, 2026 /PRNewswire/ — The California Energy Commission (CEC), the California Public Utilities Commission (CPUC), and the Rajasthan Electricity Regulatory Commission (RERC) have executed a landmark Memorandum of Intent (MoI) on 25 June 2026, establishing a strategic collaboration framework for advancing clean energy technologies, grid modernization, renewable energy integration, energy efficiency, transportation electrification, long-duration energy storage, renewable energy forecasting, and grid reliability.

The Memorandum of Intent marks a significant milestone in strengthening international cooperation between two global leaders in renewable energy deployment. California and Rajasthan, among the largest and most progressive states in their respective countries, share common ambitions of accelerating the clean energy transition while ensuring reliable, resilient, and affordable electricity systems.

The virtual signing ceremony was attended by Hon’ble Energy Minister of Rajasthan Mr Heeralal Nagar, Mr Siva Gunda, Vice Chair of California Energy Commission; Mr John Reynolds, President, California Public Utilities Commission, Mr Hemant Kumar Jain, Member, Rajasthan Electricity Regulatory Commission; and Mr Reji Kumar Pillai, President, India Smart Grid Forum (ISGF) and Chairman, Global Smart Energy Federation (GSEF), along with senior officials from the participating organizations.

The collaboration aims to promote knowledge exchange, policy dialogue, technical cooperation, and the sharing of global best practices in key areas including Renewable energy integration, Grid modernization and resilience, Energy efficiency, Transportation electrification, Long-duration energy storage, Energy forecasting and grid planning and other Emerging clean energy technologies.

Speaking on the occasion, Hon’ble Minister for Energy, Rajasthan Government, Mr Heeralal Nagar, said, “Rajasthan is a leader in clean energy in India. We have strong sunshine and good wind, and we are using them to produce more and more solar and wind power. We are also adding battery storage and smart meters, and improving our power grid, so that clean power reaches our people in a steady and affordable way. California has done excellent work in this field, and there is a lot we can learn from each other. This agreement is an important step. It allows our two sides to share knowledge, ideas and experience — on solar and wind power, storage, electric vehicles and grid reliability. I believe this will bring real benefits to the people of both Rajasthan and California.”

Mr Siva Gunda, Vice Chair, California Energy Commission, said, “California and Rajasthan are demonstrating how subnational partnerships can accelerate the clean energy transition through practical collaboration. This Memorandum of Intent provides a strong foundation for sharing technical expertise on renewable energy integration, grid reliability, energy forecasting, transportation electrification, and long-duration energy storage. We look forward to learning from one another as we work toward reliable, affordable, resilient, and increasingly clean energy systems.”

President of California Public Utilities Commission, Mr. John Reynolds, commented, “California and Rajasthan are confronting many of the same challenges as we transition to cleaner, more reliable, and more affordable energy systems. This Memorandum of Intent creates an important opportunity for our institutions to learn from one another, share regulatory experience, and strengthen our collaboration in support of the people we serve.” 

ISGF President, Mr Reji Kumar Pillai has commented, “Rajasthan today operates one of the most complex grids with nearly 80% of renewable energy. Out of 62 GW of installed capacity in Rajasthan, 42 GW is solar and 6 GW is wind. Managing a grid with such high level of variable RE generation sources is a major challenge and requires advanced digital technologies and enabling regulatory framework. This collaboration between California and Rajasthan is expected to be mutually beneficial and would be an ideal test bed for new technologies and policy interventions.”

Following the signing ceremony, the California Energy Commission acknowledged ISGF’s pivotal role in enabling this collaboration and expressed its appreciation for the continued partnership with Rajasthan and ISGF. The Commission also recognized the valuable support provided by the India Energy and Climate Center at UC Berkeley and the UC Davis India Center for Energy and Climate in advancing this initiative.

ISGF has been actively promoting international collaborations to accelerate the deployment of smart grids, renewable energy, electric mobility, and advanced energy technologies across India. This partnership further reinforces ISGF’s commitment to fostering global cooperation that supports India’s clean energy ambitions and contributes to building resilient, sustainable, and future-ready power systems.

About India Smart Grid Forum (ISGF)

ISGF is a public private partnership initiative of Govt. of India with the mandate of accelerating smart grid deployments across the country. With 170+ members comprising of ministries, utilities, technology providers, academia and research, ISGF has evolved as a Think-Tank of global repute on Smart Energy and Smart Cities. Mandate of ISGF is to accelerate energy transition through clean energy, electric grid modernization and electric mobility; work with national and international agencies in standards development and help utilities, regulators and the industry in technology selection, training and capacity building. Website: https://indiasmartgrid.org/

 

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Behind the Stream: How CHZZK’s Top Streamers Brought the Final Home from New York

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25 minutes ago

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July 28, 2026

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CUPERTINO, Calif., July 28, 2026 /PRNewswire/ — When Handongsuk went live from the stands of the 2026 World Football Championship final in New York, more than a hundred thousand fans back in Korea were right there with him — every roar, every heartbeat, in real time.

Handongsuk is one of the biggest football voices on CHZZK, Korea’s number-one live streaming platform. Together with fellow creator Samsik, he made the trip from Seoul to New York as the “New York Expedition,” carrying the atmosphere of the sport’s biggest stage directly to a Korean audience that increasingly experiences live sports not through a broadcast network, but through the creators they follow.

It’s the same convergence story playing out across the world this summer — old media and new media no longer competing, but merging into a single live experience — and in Asia, it runs through CHZZK.

The technical backbone was TVU Networks. From Central Park to the packed stadium concourse, the entire on-site production was carried on a TVU One Backpack, transmitting broadcast-grade live video straight to CHZZK over the public internet.

Delivering stable, ultra-low-latency video from inside one of the most congested network environments on Earth — a sold-out stadium with tens of thousands of phones fighting for signal — is one of the hardest challenges in live production. TVU’s proprietary ISX transmission protocol solved it, intelligently bonding multiple cellular connections to hold picture quality and latency steady even as network conditions shifted moment to moment.

The result was a seamless, immersive stream: two creators walking fans through the sights, sounds, and electric energy of the final, with no truck, no fixed uplink, and no compromise — just a single backpack and the platform’s millions of viewers.

For CHZZK, it’s proof that a digital-native platform can put fans at the center of the world’s biggest sporting moments. For TVU, it’s the same technology trusted by traditional broadcasters in over 100 countries, now powering the creators redefining how a generation watches live sports.

The final has always been the world’s biggest stage. This summer, that stage belonged to the streamers — and TVU brought it home.

TVU Networks is a global leader in cloud and IP-based live video solutions, powering broadcast, streaming, and remote production for news, sports, and entertainment across 100+ countries. Learn more at tvunetworks.com.

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SOURCE TVU Networks

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MDRT Survey: Singaporeans Increasingly Use AI to Manage Their Finances and Make Financial Decisions

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July 28, 2026

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Nearly nine in 10 Singaporeans use digital platforms, including AI-powered chat tools, to manage or seek information about their personal finances.Almost one in five Singaporeans who use AI tools for financial purposes have made financial decisions based primarily on AI-generated advice.Despite high digital adoption, trust gaps still exist, and human supervision and expertise remain crucial.

SINGAPORE, July 27, 2026 /PRNewswire/ — As digital adoption in personal finance continues to rise, Singaporeans are increasingly using digital tools not only to manage their money but also for AI-generated advice to guide their financial decisions, according to a recent survey by MDRT. Digital channels have become deeply embedded in the financial lives of Singaporeans, with nearly nine in 10 (89%) using at least one platform, such as mobile banking apps, financial websites or AI-powered chat tools, to manage their finances or seek financial information.

Among these users, more than a third of Singaporeans (35%) now use AI tools for financial purposes, from information gathering to real-world financial actions, signaling a growing shift towards AI-assisted financial management. Of those who have acted on AI-generated advice or used it as a starting point, 60% say it has influenced their savings or budgeting habits. Almost half (47%) have used it when choosing or switching financial products, such as loans, credit cards or insurance plans, and two in five (40%) say it has informed major financial decisions, including large investments or property purchases.

Nearly one in five AI users (19%) even rely primarily on AI-generated advice when making financial decisions, underscoring the technology’s expanding influence in shaping financial outcomes.

“Singaporeans are increasingly comfortable using technology in their everyday lives. I’m seeing more people use AI to better understand financial concepts or prepare for financial conversations, which is helpful. However, AI is only as effective as the information it receives. It may not identify gaps in our thinking or ask follow-up questions that uncover important aspects of our financial situation. The risk is that decisions made based on incomplete information or narrowly framed questions may overlook critical considerations,” said Laura Hoi, a 22-year MDRT member with six Court of the Table qualifications.

Increasing use of digital tools and AI in financial decision-making

While AI tools are gaining traction, established digital platforms remain the most commonly used among Singaporeans, led by banking websites and mobile apps (52%), government financial portals (43%) and financial comparison websites (30%).

That said, 29% use generative AI chat tools such as OpenAI’s ChatGPT and Google’s Gemini, while 14% turn to AI-powered chatbots offered by banks or financial institutions. They mainly do so to better understand financial concepts such as mortgages, investing and taxes (54%), as well as to compare financial products such as loans, credit cards and insurance (51%). The appeal lies largely in convenience (57%) and cost accessibility (52%), alongside the ability to simplify complex information (40%) and the freedom to ask follow-up questions (37%).

Usage patterns also reflect different levels of engagement with emerging digital tools across generations. Millennials and Gen Z are more likely to use AI to actively manage their finances, including budgeting and financial planning, while Gen X and baby boomers tend to use it primarily as a source of information.

Consumers continue to value human expertise alongside AI guidance

Despite AI’s growing role in personal finance, most Singaporeans (81%) remain measured in how they use these tools, turning to them primarily to build knowledge and explore options rather than replace professional advice. Among those who have not acted or would not act on AI-generated advice (36%), the top concerns were the lack of human oversight or reassurance (45%), the fear of bias or errors (36%), and the risk of generic or automated responses (36%).

Only 37% of Singaporeans who use AI tools are comfortable using them for personalized financial advice, and just 31% would use AI to review long-term financial plans, suggesting a strong preference for human guidance in financial decision-making. Those who currently work with a financial advisor show a similar preference, indicating that AI is seen more as a complement, rather than a replacement, to the client-advisor relationship.

Importantly, face-to-face interaction is still highly valued. While digital communication is now widely accepted, around four in 10 Singaporeans who work with financial advisors still prefer meeting in person, particularly when discussing complex financial topics (42%), making important financial decisions (41%) or reviewing long-term financial plans (38%). In-person engagement becomes even more crucial during periods of market volatility or financial uncertainty, with half (50%) favoring face-to-face meetings with their advisors, highlighting the enduring importance of personal guidance and reassurance that direct human interaction provides when navigating critical financial decisions.

“AI can provide answers based on a snapshot of information, but financial planning goes beyond that. It’s about knowing the questions to ask, understanding each individual’s unique circumstances, and helping clients adapt their financial plans as their lives and goals evolve. I believe the future is about combining the speed and accessibility of AI with the empathy, judgment, and long-term perspective that only trusted human relationships can provide to help people make more informed and confident financial decisions,” said Ms Hoi.

Survey methodology

This survey was conducted online by market research and insights agency Opinium between April 6 and April 9, 2026. The Singaporean survey was fielded in English among a sample of 2,000 Singaporean adults, weighted to be nationally representative based on age, race and gender.

About MDRT

Founded in 1927, MDRT® (Million Dollar Round Table®), The Premier Association of Financial Professionals®, is a global, independent association of the world’s leading life insurance and financial services professionals from more than 80 nations and territories and nearly 700 companies. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognized internationally as the standard of excellence in the life insurance and financial services business. For more information, please visit mdrt.org.

 

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SOURCE MDRT

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