Trust in the financial sector: What drives it and how to earn it paid usbank
More than 10 years later, the financial services industry is still working to bounce back: A recent EdelmanThis landscape can be daunting for banks, but some financial institutions see an opportunity to rebuild trust by focusing on doing right by their customers, employees and communities. Here’s what drives trust in the financial sector and what banks can do to rebuild it.One of the most important steps also takes the most work: building an ethical organization from the inside.
When employees can live out their values and believe in the values of their employer, they can authentically act in the best interest of the customer. “We’re not just here to check the box on compliance,” said Lawler. “We’re going to leverage this requirement as an opportunity to really get to know our customers.”
U.S. Bank currently has hundreds of U.S. Bank Cyber Defense Center employees in five global locations monitoring more than four billion cyber events daily. It also partners with other financial institutions through the Financial Services Information Sharing and Analysis Center. “Employees will have some skepticism about the sincerity of the external activities if inside the company it does not appear that they really care about ethics,” Kim said. Many banks and other organizations make a point to be visibly invested in every community they serve through volunteering and other philanthropic efforts. Kim emphasized that choosing the right cause for your organization is key.
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