Nurses top Gallup’s poll, but trust in clinicians strains under broader healthcare discontent.
The pharma industry moved up from last place in Gallup’s annual survey of US industry reputation, although 58% of consumers still view the industry negatively. Healthcare fared better landing in the middle of the list, but still notched a 51% negative rating. Consumers are still angry about high pharma drug prices, but they’re increasingly aware that insurers, pharmacy benefit managers (PBMs), and hospital systems are part of the problem. There’s an opportunity for pharma to continue to spotlight how PBMs drive up drug prices, for instance. But companies should also amplify more recent efforts, like creating US jobs by building more manufacturing plants in the US and making some medications more accessible in direct-to-consumer programs, to win back public goodwill.
Customers feel that banks support them and their communities.
The law enforcement agency is seeking civil penalties against the neobank, replacing the FTC’s original lawsuit.
The Canadian bank pled guilty to criminal charges for its AML failures and accepted penalties and growth limitations imposed by a US regulator.
This tactic reflects customers’ desire for stability and safety in the rocky year following last March’s US bank collapses.
Banks that abruptly close customer accounts without clear explanations lose business and trust in their brands.
Brands can take a page from lululemon athletica’s playbook and hold a dupe swap to show consumers what they’ve been missing or use social media to give a behind-the-scenes look at how a product is made. Other strategies include leaning into secondhand and adding less expensive alternatives.
Here are some things banks should consider when partnering with a fintech.
Consumers’ sentiment is shifting. They now put more trust in institutions other than their primary bank or credit union for financial and banking services.
US banks are facing a consumer crisis of faith amid market turmoil. The trust-building actions banks take now will determine how their customer relationships fare in the future.
Digital trust—the confidence that bank customers have in their providers’ digital channels—is a precious commodity for banks. As competitive and cybersecurity threats abound, trust will be their advantage to lose.
Powerful data and analysis on nearly every digital topic.
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