12/7/2020, 1:28 PM (Source: TeleTrader)
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Consumers losing trust in banks - Accenture study

Consumers appear to be losing their trust in banks, according to the 2020 Global Banking Consumer Study conducted by multinational company Accenture, as announced on Monday.

The report notes that only 29% of surveyed consumers trust banks "a lot" to look after their long-term financial well-being, while this percentage was 43% two years ago. Accordingly, consumers' trust in banks to look after their personal data has dropped to 37%, from 51% in 2018.

Accenture's study was based on interviews with 47,000 banking customers in 28 markets, following a methodology similar to the ones used for the relevant studies in 2017 and 2019.

Breaking the News / CG