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US Incumbent Bank Digital Trust 2022

How Consumers Rank Trustworthiness of the Top 10 US Banks

Report by Maria Elm  | Sep 20, 2022
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Table of Contents
Executive Summary
Incumbents Have a Golden Opportunity to Cement Their Trust Advantage Over Neobanks
Incumbent Leaders in Digital Trust
How Incumbents Performed in Key Digital Trust Categories
Read Next
Sources
Media Gallery
About This Report
Incumbent banks remain firmly in the lead against neobanks on digital trust—but there are threats to keep their eyes on.
Topics
Banking
United States
Table of Contents
Executive Summary
Incumbents Have a Golden Opportunity to Cement Their Trust Advantage Over Neobanks
Incumbent Leaders in Digital Trust
How Incumbents Performed in Key Digital Trust Categories
Read Next
Sources
Media Gallery

Executive Summary

The 10 largest US banks by assets trounced neobanks in our latest US Banking Digital Trust Benchmark. But a few neobanks are starting to punch above their weight on winning consumer trust, threatening to narrow or even close the gap with their legacy rivals. That means incumbents must stay on their toes and protect their trust advantage.

Key Question: What drives incumbent banks’ performance across each of the key dimensions of digital trust?

Leading Providers US Digital Banking Users Would Trust Most to Provide Them with Banking Services, 2021 & 2022 (% of respondents)
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KEY STAT: Fewer consumers cited their current primary bank or credit union as their most trusted financial services provider this year versus 2021. Incumbents should act now to preserve their trust advantage over digital-only banks.

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Table of Contents

  1. Executive Summary
  2. Incumbents Have a Golden Opportunity to Cement Their Trust Advantage Over Neobanks
  3. Incumbent Leaders in Digital Trust
  1. How Incumbents Performed in Key Digital Trust Categories
  2. Read Next
  3. Sources
  1. Media Gallery

Charts in This Report

Leading Providers US Digital Banking Users Would Trust Most to Provide Them with Banking Services, 2021 & 2022 (% of respondents)US Incumbent Banks vs. Neobanks Scores Across Digital Trust Categories, June 2022 (points out of 100)
US Financial Institution Rankings Across Digital Trust Categories, June 2022 (rank out of 14, score out of 100)US Digital Banking Users' Security Perceptions, Top 3 Banks, June 2022 (rank out of 14, score out of 100)
US Digital Banking Users' Privacy Perceptions, Top 3 Banks, June 2022 (rank out of 14, score out of 100)US Digital Banking Users' Reputation Perceptions, Top 3 Banks, June 2022 (rank out of 14, score out of 100)
US Digital Banking Users' Reliability Perceptions, Top 3 Banks, June 2022 (rank out of 14, score out of 100)US Digital Banking Users' Feature Breadth Perceptions, Top 3 Banks, June 2022 (rank out of 14, score out of 100)
US Digital Banking Users' Ease of Use Perceptions, Top 3 Banks, June 2022 (rank out of 14, score out of 100)

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authors

Maria Elm

Contributors

Ona Koehler
Senior Director, Benchmarking
Na Li
Director, Primary Research
Tiffani Montez
Principal Analyst, Banking
Daniel Ramirez
Researcher, Financial Services