Brand Finance conducted research on bank brands in 22 markets to see how customers’ opinions have changed in an era of major disruption to the industry.
David Haigh, CEO of Brand Finance, commented, “As global banks retreated after the Great Recession, the traditional banking model has changed. The prevailing trends suggest fintechs and niche ‘challenger banks’ are biting into big banks’ profits and luring their customers away with better quality service at lower prices.
Traditional banks tend not to be set up as quick innovators. Instead, they compete for customers’ trust and our research indicates which banks are the most trustworthy.”