Consumers rate transparency and ethical behaviour as vital to building industry trust, and are calling out financial services as one of the least trustworthy industries, according to SAI Global.
A total of 41 per cent of respondents to SAI Global’s inaugural Consumer Trust Index ranked the financial services industry as trustworthy, which placed it behind both health care (72 per cent) and postal services (72 per cent).
SAI Global chief executive, Peter Granat said the statistics showed poor customer experience (31 per cent) and poor treatment of employees (29 per cent) had been major contributors to the index results.
“Trust is a powerful, valuable and fragile business asset – once lost, it can be difficult to win back,” he said.
The Consumer Trust Index indicated 43 per cent of customers would not return to a company following a data breach and that 88 per cent would be swayed into trusting a business if it had a clean reputation.
