FEBRUARY 2019: The significant impact on trust in banks following the Australian Royal Commission into Banking is undeniable and the change in sentiment is visible in RFi Group’s Banking Trust Index (BTI).
Released by RFi Group, this comprehensive and timely report provides a robust view of how consumer trust has evolved and changed since January 2018. Leveraging interviews with more than 50,000 consumers over 12 months this report delivers critical insights to any bank, fintech or mutual seeking growth opportunities in an industry facing challenging consumer sentiment.
In the ‘Trust, Technology and Transformation Report’, insights are extrapolated from the BTI to reveal exactly where each of the Big 4 regional, as well as major mutual banks stand in the eye of the consumer, from both an overall and product-specific perspective.
Diving deeper, the report also draws upon the key findings of RFi Group’s 2018 Open Banking Study exploring the early adopter, millennial and youth segments to understand the impact on consumers entering their high banking product demand life stage.
Key questions answered:
Key metrics include:
The Trust, Technology and Transformation Report brings together the impact of the Royal Commission and opportunities and solutions offered by Open Banking, in the context of the high growth consumer segments to identify potential solutions, preferred FS providers, and product demand that the banking industry is facing in the coming years.
Comparable across banking groups and competitors, RFi Group’s Trust Index allows institutions to benchmark themselves and understand the drivers behind increasing and decreasing trust levels.
RFi Group Chief Product Officer and Co-founder Alan Shields is available for immediate comment.
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The ‘Trust, Technology and Transformation Report is available for purchase by clicking here.
For further information on the report, please contact: