Banks face trust crisis as customers go online

Original article by Cliona O’Dowd
The Australian – Page: 15 : 14-Dec-20

Accenture has released a report which shows that the proportion of Australians who trust banks to look after their financial wellbeing has fallen from 43 per cent to 29 per cent since 2018. Alex Trott of Accenture says the rapid shift to digital banking in response to the COVID-19 pandemic may undermine the progress that banks have made in restoring consumers’ trust in the wake of the Hayne royal commission. The report notes that fewer consumers have changed lenders in 2020, despite growing distrust of the banking sector.


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