Trust Tech: The Future of Digital Banking in the UK

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Fintech, Retail Banking

matt-brown

Matt Brown

Director of Operations

SYZYGY


A brand without trust is a product. Advertising without trust is noise. Technology without trust is obsolete.

UK Consumers continue to distrust banks. Apple is launching a new kind of credit card designed to repair the trust deficit in financial services. Will it work? And what does it mean for UK banking?

1) Most UK consumers don’t trust banks. A SYZYGY digital insight survey conducted in August 2019 confirms the persistence of a significant trust deficit between UK consumers and their banks. Our research indicates that only 32% of UK consumers believe that banks can be trusted today. 46% say their level of trust in banks has deteriorated over the past three years. Only 7% say the trustworthiness…

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