The 2018 Edelman Trust Barometer: Financial Services takes a deep look into a sector that, over the last five years, has seen a steady increase in trust. In 2018, however, this rise has stalled, and we see several markets in the informed public segment of our research with double-digit declines in trust.
Deidre Campbell, global chair, Financial Services Sector, offers insights into why trust in financial services matters, what builds or erodes trust in the sector, and why the industry must maintain a delicate balance between the use of technology and the human touch.
Read additional insights from this year’s report below.
2018 saw a stalled trust recovery for the financial services sector. Our data revealed six double-digit trust declines among the informed public segment, including a 20-point drop in the U.S.
Trust delivers in the financial services sector. Forty-one percent of respondents used products/services of trusted financial services companies in the last year. Thirty-one percent recommended them to others.
Technology builds trust in financial services. Thirty-six percent of respondents selected reliable fraud protection as a way to most increase trust in a financial services company.
Human interaction is most highly coveted. Thirty-one percent of respondents said it was most important to interact with a real person when getting investment advice. Twenty-six percent said they needed a real person when settling disputed credit card charges.