US Banking Digital Trust Study: Which US banks have the highest levels of digital trust among consumers

Business Insider Intelligence

• This is a preview of Business Insider Intelligence's US Banking Digital Trust Report 2020.
• The full report will be available to Business Insider Intelligence enterprise clients in late April. To learn more about this report, email Business Insider Intelligence Client Services at bii-clientservices@businessinsider.com.

The US banks with the highest levels of digital trust in 2020 are PNC, Chase, and Citibank, according to Business Insider Intelligence's inaugural Banking Digital Trust study. Digital trust is the confidence that consumers place in their banks' digital channels — and that confidence is more important now than ever. As the coronavirus pandemic sparks branch closures, digital banking outages, and fraud schemes, trust is being put to the test on multiple levels. 

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 (22.6% versus 10.4%).

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See Also:

• UK BANKING CHANNEL FORECAST: How shifting consumer habits and the coronavirus pandemic are shaping future usage of and informing banks' investments in branches, digital and mobile banking, ATMs, and call centers
• Wells Fargo is preparing to cut tens of thousands of jobs and pull back on lending to reduce costs
• WhatsApp's new communication tools will aid its payment ambitions

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