Executive Summary

US financial institutions (FIs) are struggling to maintain consumer trust in an increasingly volatile market environment. That trust is even more precarious in digital channels, where there’s less human touch and greater fraud risk. This third annual study reveals the weakest points in FIs’ trust and steps they can take to build trust amid crisis.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

1. How do 14 top banks and neobanks compare across the key dimensions of digital trust in consumers’ eyes?
2. What do consumers see as the weakest points in banks’ trustworthiness?
3. What can FIs do to improve customer trust in their digital channels?

WHAT’S IN THIS REPORT? An analysis of features and attributes that inspire the most customer trust in their banks’ digital channels, an overview of perceived weak spots in banks’ trustworthiness by customers, and data-driven recommendations banks can take to improve their digital trust.

KEY STAT: Traditional FIs will face tougher competition for customer loyalty going forward: Consumers no longer consider their current primary bank or credit union as the provider they’d trust most to supply them with banking services. PayPal now holds the top spot.