US Trust in Financial Services Market Report 2023
[{"name":"Financial Services","url":"https:\/\/store.mintel.com\/industries\/finance\/financial-services"}]
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…

US Trust in Financial Services Market Report 2023

£ 3,695 (Excl.Tax)


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.

Key Issues Covered in this Report

  • The types of financial services providers consumers trust the most.
  • How trust changes across a variety of financial services brands.
  • The biggest drivers when choosing FIs.
  • The biggest factors that contribute to trusting FIs.
  • Attitudes toward financial services providers and the industry.

US Financial Services Industry – Consumer Insights

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.

Expert Analysis from a Financial Services Specialist

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 AnalystAmr Hamdi
Finance Analyst

Table of Contents

    • Key issues covered in this Report
  1. Executive summary

    • Consumer trends: key takeaways
    • Graph 1: top reasons for trusting financial services providers, 2023
    • Graph 2: trust in traditional banks vs tech companies and neobanks, by generation, 2023
    • Opportunities
  2. Consumer Insights

    • Consumer fast facts
    • Consumer trust across financial services providers
    • Graph 3: trust in financial services providers, 2023
    • Graph 4: trust in banks vs credit unions, by generation, 2023
    • Trust in financial brands
    • Graph 5: trust and mistrust across traditional bank brands, 2023
    • Graph 6: trust in online and mobile payments brands, by generation, 2023
    • Important factors in choice of FI
    • Graph 7: top five factors in choice of FI, 2023
    • Graph 8: most important factors in choice of FI, by generation, 2023
    • Graph 9: desire for financial support, by household income, 2023
    • Financial services concerns
    • Graph 10: consumers’ top five concerns regarding financial services providers, 2023
    • Attitudes towards financial services providers
    • Graph 11: satisfaction and trust in financial providers vs industry, by age, 2023
    • Graph 12: loss of trust after bank failures, by household income, 2023
    • Graph 13: attitudes toward biometric authentication, by generation, 2023
    • Graph 14: adding accounts with new providers in the past year, by age, 2023
  3. Competitive strategies

    • Marketing and advertising
  4. The Market

    • Market context
    • Market drivers
  5. Appendix

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.


Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.


Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.


Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.


Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

Below is a sample report, understand what you are buying.

Click to show report
2024 Sample Consumer Cover

Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

Trusted by companies. Big and small.

Want to speak to us directly?

Contact us with your enquiry and our expert global team can help.

Get in touch