When the Culture and Conduct Steering Group (CCSG) was formed to elevate culture and conduct standards amongst banks in Singapore, we designed the Bank Trust Index for Singapore: a first-of-its-kind study that provides a standardized measurement of public perception and Trust towards major banks, and the industry overall, in Singapore.
DECIPHERED PUBLIC DEBATE
We uncovered the topics shaping the perception of the banking industry, providing quick and visual insight into a complex and nuanced environment, and setting a strong foundation for all future phases of research.
DISSECTED DRIVERS OF TRUST
We rationalized 24 Trust drivers with a factor analysis and developed a relative weight analysis model to evaluate their contribution on Trust. This revealed drivers of Trust for various banking customer segments and opportunities to improve trust on both the industry and individual bank level.
DROVE INDUSTRY IMPROVEMENT
We facilitated development of audience- and sub-sector- specific action plans and public communications. We built a baseline that measures progress of the industry’s culture and conduct initiatives, and will, over time, ultimately raise culture and conduct standards of banks in Singapore.