Earning trust and loyalty through advertising: Insights for payment and banking brands

Trust is the cornerstone of any good relationship, including those between consumers and their financial services providers. Industry insights suggest that trust in financial institutions is declining.¹ Recognizing that consumers rely on financial providers in almost every aspect of their lives, Amazon Ads conducted a study of more than 2,000 U.S. financial services customers to explore the intersection of trust and customer behavior. The study aimed to uncover the factors driving the lack of faith in banking, credit card, loan, and payment providers, assess what's at stake for institutions that don't improve their standing with customers, and determine how they can engage consumers to rebuild trust.

Overall, the research revealed that consumers regard trust as the most important factor for doing business with financial services providers over low or no fees, security, customer service, convenience, and competitive rates.² The value of trust is significant. Financial institutions that foster it can solidify their customer relationships and inspire higher levels of action. According to surveyed consumers, with higher levels of trust, 40% would be more likely to try new products and services, 42% would be more likely to recommend their provider to family and friends, while 35% would be more likely to increase their account balances.³

Meanwhile, those who don’t trust their provider are on average 1.7x more likely to change brands, with 31% actively considering a switch.⁴

It comes as no surprise that hidden fees or costs, changes in fees or policies, fraud, and security breaches all hamper consumer confidence. However, more surprising were concerns about impersonal service. Respondents overwhelmingly reported that providers seemed blindly out to make sales, treating customers with a one-size-fits-all approach rather than understanding their individual needs and circumstances.

Consumers' desire for more personal interactions with financial firms presents an opportunity for banks and payment providers to proactively build trust through tailored advertising. Financial brands can use ads to reach and engage consumers with products that may be better suited for them by aligning with factors that often impact financial situations: lifestyle, interests, life stage, financial goals, and financial behaviors. As part of the research, Amazon Ads asked consumers to self-identify as one of eight financial mindset personas differentiated by these factors. These personas include consumers who regard themselves as: luxury-minded, experience seekers, travel enthusiasts, investors, financially prudent, deal seekers, debt reducers, or low-maintenance. The study also examined Spanish-language speakers, noting that the U.S. is projected to become the largest Spanish-speaking nation by 2050.⁵

Across the board, all personas have lower switching intent when they completely trust their financial provider.⁶ Understanding how consumers manage their finances helps create personalized approaches that earn trust.

Download the full report to learn each persona’s mindset regarding finances and how
financial brands can foster trust through tailored ads that reach and engage consumers with products and benefits that align with their needs.

Sources

¹ 2024 U.S. Retail Banking Satisfaction Study. J.D. Power. U.S. March 2024. N= 105,355.

² Amazon Ads custom research with Kantar. Earning trust and loyalty through advertising: an insight-driven guide for payment and banking brands. Fielded April 2025. U.S. Quantitative survey base: Financial services consumers N=2,013, U.S. Spanish speakers (300).

³ Amazon Ads custom research with Kantar. Earning trust and loyalty through advertising: an insight-driven guide for payment and banking brands. Fielded April 2025. U.S. N=2,013.

⁴ Amazon Ads custom research with Kantar. Earning trust and loyalty through advertising: an insight-driven guide for payment and banking brands. Fielded April 2025. U.S. N≥164.

⁵ Babbel for Business. U.S. March 2025.

⁶ Amazon Ads custom research with Kantar. Earning trust and loyalty through advertising: an insight-driven guide for payment and banking brands. Fielded April 2025. U.S. Base: The luxury-minded N=162, Experience seekers N=190, Travel enthusiasts N=133, Investors N=245, The financially prudent N=392, Deal seekers N=392, Debt reducers N=321, The low-maintenance. N=178, U.S. Spanish speakers N≥33.