US Banking Digital Trust Study from Business Insider - Business Insider

Building digital trust could unlock valuable benefits for banks, including increased satisfaction, engagement, and customer lifetime value. Respondents who rated their bank above average in digital trust ratings considered themselves likely to open their next account at the bank at more than twice the rate of those with low trust .

Even with high digital trust among their customers, banks still face the looming threat of tech giants: The provider cited by the highest percentage of respondents as one of their most-trusted banking services providers was fintech PayPal , edging out respondents' primary bank . To help banks pinpoint how to maintain and grow trust among customers, our Banking Digital Trust 2020 study surveyed 2,055 US banking customers on which factors play the biggest part in determining the level of confidence they feel when using digital banking channels, namely: Security, Privacy, Reputation, Reliability, Feature Breadth, and Ease of Use.

We asked respondents to rate their bank's performance in each of those factors, and used these rankings to determine which banks have the highest levels of digital trust overall. We also dove into our survey results to offer banks data-driven insights on how they can improve trust levels across the six factors. This study looked exclusively at the top 10 consumer-facing banks in the US by asset size.PNC punched above its weight, earning the highest overall digital trust score.

Despite being middle-of-the pack by asset size, the bank earned the highest customer marks in the three most important categories of the study: Security, Privacy, and Reputation. The bank's strong lead within those heavily weighted categories, along with its second-place score in Feature Breath, were enough to offset its average customer ratings in the Ease of Use and Reliability categories.

I’m proud

PNCBank

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. weighs taking equity stakes in U.S. energy companies, Mnuchin saysThe U.S. government is considering taking equity stakes in U.S. energy companies as it seeks to help the nation's oil and gas sector amid the coronavirus outbreak, Treasury Secretary Steven Mnuchin said on Friday. So...socialism? Americans, pick up your guns and go to the White House to get a mask! F no!
Source: Reuters - 🏆 2. / 97 Read more »