The financial services sector is being turned upside down in the public opinion
Our analysis of over 300 banks and financial service providers in Germany, Switzerland, the UK and the US shows: the media is expecting nothing less than a revolution, with traditional banks and credit card companies swept aside by newcomers like fintechs, neobanks and eCommerce transaction leaders ready to move into money.
Our findings indicate a significant upheaval in public perception. Newcomers steer their public profile with future topics while traditional banks are too often in defensive mode.
- The traditional banks are losing their pre-eminence position in the public view: Newcomers have a greater media visibility than the established banks and financial service providers. A trend which is already well advanced in the Anglo-American world; the figures suggest that this trend is also spreading to other European markets.
The decisive factor in public perception is not technology, but customer service. Customers demand ease of use, convenience and security – enabled by technology.
Sustainability / Green Finance gains strong momentum in 2020, especially in the US. Financial players need to prove that they are not part of the problem of climate change but part of the solution.
No trust advantage for established banks and credit card providers: Overall, the public doesn’t trust the established banks any more than the fintechs.
The Coronavirus pandemic drives trending topics like contactless payment. As a result, it even accelerates the upheaval processes in the banking sector.
UNICEPTA has reviewed the media and content landscape for emerging topics, players, and issues in the financial services sector in Germany, Switzerland, the UK and the US.
In total, more than 75 million articles and posts from editorial and social media, published from July 2019 to April 2020.
Insights to explore
- Who, what and how the industry is being disrupted
- To what extent newcomers have already stormed the banking stage
- The strongest topics shaping public discourse
- The impact of the coronavirus pandemic
- Insights to identify opportunities and spot risks
- What financial services companies can do to stay relevant in these new conversations
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