The rising importance of BigTechs such as Google, Amazon, Apple and Facebook in the financial sector requires special attention from supervisory authorities such as De Nederlandsche Bank (DNB).Read more
While trust in the financial sector is generally on the rise, it has not returned to pre-crisis levels
Public trust in financial institutions is an important precondition for the functioning of the financial system, which in turn is essential for the development of the real economy. In other words, the economy as a whole depends on trust in financial institutions. Dutch consumers show a fair level of trust in banks, insurers and pension funds in general, even though these levels are structurally lower compared with those observed before the financial crisis (see Figure 1). For example, 67% of the more than 2,500 consumers we surveyed said they mostly or fully trusted the banking sector in 2019, against 89% in 2006. We conducted an in-depth study into the factors underlying levels of consumer trust.