Trust Pilot research shows trust in financial services

[nusaibatara]

Trustpilot , the independent and free platform that brings consumers and companies together to continuously improve their experiences, wanted to investigate the issue of trust in the financial services sector and discovered some very interesting data.

“How do consumers know who to trust?” To answer this question, London Research and Trustpilot created a report based on consumer responses from five different markets—Italy, the shop United Kingdom, France, the Netherlands, and the United States—discovering that globally, the most reliable sources of information when it comes to financial services are the institution's official website and its customer reviews.

Italy boasts its own record, confirming its position as the most difficult country to persuade: it is, in fact, the nation where trust in financial services has declined the most over the last three years.

Nonetheless, review sites are the preferred search tool in Italy when contacting a financial institution: 33% of Italians interviewed believe that review sites are the primary source of information for building trust, followed by price comparison portals and the company website.

Finally, social media are not considered a reliable tool for evaluating the trustworthiness of a financial service: in Italy, the percentage of trust in the medium stops at 8%, in line with other European countries.

However, there are some services that require careful preliminary analysis more than others: applying for a mortgage is the main reason Italian consumers consult reviews and opinions related to individual financial institutions. Further reasons include issuing a credit card, applying for pensions, loans, and life insurance.