How financial services lost its mojo - and how it can get it back

Stand out for the right reasons

Consumers have lost their trust in the financial services industry. They feel both frustrated and apathetic towards financial services firms and think they’re all the same. But all is not lost for banks, financial advisors, insurance providers and fund managers.

Our latest survey findings reveal what UK consumers want from their financial services providers and outline the key steps firms should take to repair the damage and to get their mojo back.

Highlights:

  • 57% of consumers don’t believe that regulatory reforms will prevent another financial crisis
  • 58% of UK consumers believe that their mobile phone insurance adds more value to their lives than the security provided by life insurance (35%).
  • 58% of consumers say their decision to use the services of a bank is not influenced by whether it operates in wholesale markets as well as in the retail sector
  • Almost a third of consumers (30%) believe that their current account does not offer good value, yet only 11% have changed banks in the last 12 months.