News

Online banks not trusted by three-quarters of public

Almost three-quarters of UK consumers do not trust their banks, and according to research online banks fare the worst.

Independent research commissioned by Unisys sampling the views of almost 700 consumers found that 71% said they do not trust their banks.

The figure is far higher than the number who do not trust technology, health and education organisations, said Unisys.

The research showed the six banks ranked lowest were those with no high-street presence.

Disrespectful attitudes, poor privacy, weak IT including poor websites, bad corporate governance and a lack of investment in the local community were reasons why the banks fared badly, said Unisys.

Elton Birden, vice president for Unisys UK Financial Services, said, “Banks must look beyond firewalls and data breaches and understand that consumers consider everything when deciding where to place their trust.”

Unisys's site >>


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