Why Are Consumers Cheating on Their Banks?

A version of this blog post was originally published by Retail Banker International. We all know that one of the biggest fall outs from the global financial crisis was the severe knock to consumer trust. However, while Europe’s bankers continue to deliberate on how to rebuild this trust, emerging market banks have arguably benefitted. For example, the post crisis consumer in emerging markets has put more trust in local providers; this is evident in new research* we published in November 2013 regarding consumer attitudes and expectations of banks. The findings showed that more than 75% of consumers in the Middle East and Asia do trust their banks. So, are consumers learning to love their banks again? In short, the answer is no.