Digital trust is the confidence that consumers place in their banks' digital channels — and that confidence is being tested more than ever by pandemic-related branch closures, digital banking outages, and fraud schemes. This study benchmarks banks according to consumer trust in their digital channels and uncovers steps banks can take to improve their standing.
Three Key Questions This Report Will Answer:
WHAT'S IN THIS REPORT? Business Insider Intelligence's first Banking Digital Trust Report uses a survey of 2,055 US consumers to explore how six key factors influence consumer trust in banks' digital services: Security, Privacy, Reputation, Reliability, Feature Breadth, and Ease of Use. With branches closing and call centers overwhelmed, digital channels are becoming the first option for many bank customers during the pandemic. For banks, strengthening trust in those channels is vital. In this report, we benchmark how customers perceive the top 10 US banks across the six key pillars of digital trust. Our digital trust rankings of each bank are a weighted cumulative score generated from customer perceptions of their banks within each category. Our study also contains actionable survey data that reveals how banks can improve their consumer perceptions within each category.
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