734: Insights: How important is trust to financial services in 2023?
Fintech Insider Podcast by 11:FS
00:00
The Risk of Contagion in Banking
The US regulator has been very swift to step up and say that they're essentially guaranteeing deposits. There's an upside to banks, your listeners may be shocked and surprised to hear that because banks are so often in the news for troubling reasons. But even with that, you've got to accept that confidence in banks will not be restored fully until they see over time stability. You can't fake it. At the end of the day, trust is an experience. It's an experienced phenomenon, and it's recreated, reinforced, confirmed at every interaction. And by definition means that a single interaction can destroy it or damage it or shake it. Those setbacks take time to recover and restore.
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