Abstract
Introduction
Consumer trust in Financial Services is at an all time low. In order to
attract consumers' money banks and other institutions must first rebuild trust.
Scope of this research
- Using Global consumer data from our Financial Services Consumer Insight
survey this report identifies the extent to which trust has been lost
- The report analyses the causes of this shift & identifies strategies that
can be employed to rebuild trust and attract & retain savings customers.
- The report discusses what trust means in the context of savings and
investment and what it means for customer acquisition and retention
- A number of key trends are highlighted that describe the interplay between
trust, attitudes and behaviour in the wake of the credit crunch
Research and analysis highlights
Savings and investments are directly affected by trust. High trust invariably
leads to higher values and volumes of savings across the entire range of
products and institutions. However trust is not the only factor at play, with
wider economic as well as cultural factors having an impact on both levels of
activity and levels of trust.
Savings patterns are changing as consumers increasingly shift their concern
towards a focus on short term, high liquidity investment and savings products.
This trend is universal and is not limited solely to regions affected by the
downturn. This change in consumer concern will lead to a change in the type of
products saved with.
Investors and savers active in the most complex and sophisticated products
hold the highest levels of trust in the industry, despite the losses they have
made in the downturn. Higher understanding of finance leads to higher trust,
yet public engagement with the industry remains low. Improved public
understanding will lead to higher trust.
Key reasons to purchase this research
- Access the results of Datamonitor' s Global FS Consumer Insight survey,
enabling you to understand the drivers behind loss of trust in your industry
- Identify actionable strategies that can help encourage consumers to save
and invest
- Understand why trust matters, and the effect it has on the bottom line
| 
View Cart
