The banking sector has undergone a rigorous and exposing investigation that has highlighted the depth of the crisis of trust. Rather than another survey that shows the obvious, Deloitte has developed an Australian Trust Index through a targeted survey designed specifically to measure levels of customer trust and general trust influence factors.

In this inaugural index we surveyed customers of banking products, to identify the way forward to rebuild reputation and trust. These results deepen our understanding of the factors influencing trust in the sector and point to prioritised actions banks can take to restore trust.

This is particularly valuable given that culture and conduct will both get a very hard edge in the strengthened regulatory environment mooted by Commissioner Hayne, as he signals a greater role for the judiciary in ensuring accountability for significant and systemic poor conduct.

The methodology

Deloitte surveyed 2072 representative Australians in August 2018 to provide their views on trust in banking in Australia, both in general, and in relation to their own bank.