“The coronavirus outbreak has accelerated the shift from cash to contactless payment as well as increasing the use of mobile banking, reinforcing the importance of technological innovations in the banking landscape. However, it is critical for brands to ensure that all their customers have sufficient digital literacy to access financial services and products though digital means, and if not provide the necessary support through more traditional communication channels. In contrast to the 2008/09 recession, COVID-19 gives brands the opportunity to challenge negative assumptions about financial services institutions, highlighting their vital role in supporting individuals and the broader economy in a period of extreme economic uncertainty.”

– Emilia Tognacchini, Junior Research Analyst, 24 August 2020

This report covers the following issues:

The impact of COVID-19 on Financial Services Consumers.

How leading financial services brands score on metrics like consumer usage, trust, preference, differentiation, and satisfaction and recommendation.

The top scoring brands for particular personality traits including ethics, customer service, competency, reliability and consumer perceptions about exclusivity and prestige.

The leaders on hot topics in the financial services sector – progressiveness and supportiveness, and consumer perceptions about rewarding loyalty.