Security and banks

According to recent research by Gartner, consumers regard security as the most important feature in online banking. That’s a pretty obvious finding. Security is the cornerstone of banking. Unfortunately, that doesn’t make it a competitive edge, as Gartner appear to suggest. Because we don’t pick banks for their security. We pick them for their interest rates, or because their branches are conveniently located. And we expect all leading brands to be equally secure. In banking, security is a minimum standard, not a differentiating factor.

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This is only because security has yet to be marketed to the masses. Stating that your service is "ISO27001 compliant" means nothing to Joe Public. Saying "we have a gold star for security" would be something different if the metric was promoted effectively and your competitors only had a "silver star". Branch location is becoming less important with internet only accounts who also usually offer better rates (Smile, Cahoot etc).