The data: US public confidence in banks has not fully recovered from the 2008 financial crisis, according to a Gallup survey. About 62% of respondents said they trusted banks and financial institutions versus 76% before the crash.

Zoom out:

• Gen Z has a trust issue with banks: Our April 2025 study showed that just 32% of Gen Zers globally trusted banks compared with 51% of consumers 55 and older.
• Protection from fraud is crucial: Nearly 95% of respondents to our January 2026 report US Banking Consumer Trust 2026 said protection from fraud was a very or extremely important factor in their trust in a bank.
• AI-based scams may be part of the problem: Some 62% of respondents to an Alloy study had been victims of scams or knew someone who had.

Implications for banks: Consumer safety and security is imperative, but banks cannot shape the narrative caused by factors outside of their direct control—like financial scams.

They can demonstrate security through their actions, but banks can also strengthen their brand image by addressing other issues. For example, Gen Zers care more about social responsibility than older consumers do. The brand image banks craft with Gen Z in mind may be a small step to restoring the trust they are struggling to rebuild.