The strength of long-term banking relationships remains dependent on the inherent trust customers have in their providers. This trust can come in many forms; for some, it is due to their deposits remaining secure for the length of said relationship. For others, it is the active demonstration of community involvement and financial support that drives this trust. Mintel’s consumer report provides a comprehensive analysis of US consumers’ trust in financial services providers, including an overview of competitive strategies to build trust.
In the past couple of years, consumers wrestled with the recessionary impacts due to the pandemic, and most recently, the one-two punch of high inflation and high interest rates – leading to financial wellness taking a higher precedence in many peoples’ minds. With over 40% of consumers wanting FIs to help them achieve their financial goals, providers have the chance to take a more active role in their customers’ financial wellbeing and gain the two most coveted currencies in the financial services industry – trust and loyalty.
Purchase the full report for a comprehensive analysis of US Consumers’ Trust in Financial Services. Readers of this report may also be interested in Mintel’s US Unbanked and Underbanked Consumer Report.
This report, written by Amr Hamdi, a leading financial services analyst, delivers in-depth commentary and analysis to highlight consumer trends in the US financial services industry.
Trust remains the backbone of any banking relationship – essential in fostering loyalty, ensuring financial security, and upholding the integrity of the industry.
Amr Hamdi
Finance Analyst
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
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