The banking industry still suffers from reputational damage as a legacy of past (and some on-going) scandals. Consumers generally have less positive view of the industry than they have of individual bank brands and the individual banks they use. In the banking industry, the whole (the industry’s reputation) is worth less than the sum of its parts (the reputation of individual bank brands). While 79% of consumers are satisfied with their own bank, only 44% look favourably towards the industry as a whole.
Consumer positive views of either the industry or individual banks are based on an unemotional assessment of the banking services provided, principally an assessment of the current account and/or online banking system. Consumers do not have warm and cosy feeling towards individual banks or the industry, they remain somewhat detached from both, even those consumers who tend to look favourably on the industry or individual bank. Consumers respect banks and industry more than they like either.
This report (68pp) and the detailed dataset of all survey results with a demographic analysis is available directly from IRN Research, priced at £1,700. Discounts for multiple report purchases, report only, dataset only, or purchases of extracts