For financial services brands, trust isn’t just a reputation issue; it’s the deciding factor in whether consumers buy, stay loyal, or walk away. In both the UK and US, new research from Attest reveals that trust consistently ranks higher than low fees, high returns, or convenience when it comes to choosing financial products.

Based on nationally representative surveys of 2,000 working-age adults in each market, our 2026 Consumer trends reports reveal what’s eroding trust in financial services, and what brands can do to earn it back. The findings are especially relevant for digital-first and cryptocurrency providers, who face a much steeper trust gap compared to traditional banks.

UK insights

Trust trumps all: brand reputation leads the decision journey

When UK consumers select financial products, one factor stands head and shoulders above the rest: trust in the brand. Our data shows, 39% of respondents rank trust as their number one consideration – more than double the next highest factor, lowest fees (18%).

This dominance is consistent across demographics, with trust gaining even more importance among higher earners (42%) and female respondents (42%). It also increases with age, peaking at 43% among 25–34 year olds and 42% among those aged 55–64.

The takeaway? In a category where confusion and complexity are common, consumers gravitate toward brands that feel familiar, reputable, and reliable. For financial services providers, this isn’t just a matter of marketing – it’s a strategic priority. Without a strong foundation of trust, product features and pricing simply don’t carry enough weight.

Fees, returns, and the mid-table factors

While lowest fees come in second, at 18%, the 21-point gap between trust and cost reveals just how much more weight brand reputation holds. Interestingly, this cost-consciousness is strongest among 45–54 year olds (23%), but drops to 13% for 55–64 year olds, indicating that price sensitivity softens with age.

Best returns and advantages place third overall at 15%, though the factor is viewed quite differently depending on demographic. Male respondents show a stronger preference for returns (18% vs 11% of women), and higher earners are more likely to prioritise them (17% vs 13% of lower earners).

Despite being core elements of financial products, both pricing and returns take a backseat to trust. This signals an important reality for providers: financial gains alone won’t win over consumers if they don’t believe in your brand. Instead, these features may serve as supporting benefits once trust is established.

In the middle of the rankings, customer service, convenience, and ease of understanding show a steady but modest presence. Each is named as the top priority by fewer than 12% of respondents. However, these elements may play a crucial role in retention and experience, even if they don’t drive initial selection.

Trust in financial services is fragile

While trust emerges as a major purchase driver in financial services, the data reveals how consumers are struggling to put their faith in providers in 2026 – especially when it comes to things like hidden fees.

A third of UK consumers have experienced an unexpected charge, and it’s something that has a huge impact on trust. Thirty-one percent of those affected left their provider entirely, and a further 40% remained but with diminished trust – meaning 71% of fee incidents damage the relationship.

Another factor driving mistrust – and churn – is digital security. High-profile data breaches and the rising risk of cybercrime have eroded consumer confidence, particularly in online-only providers. More than half (51%) of UK consumers report diminished trust following security breaches, and 21% have switched providers due to trust concerns. 

Cryptocurrency platforms are the most distrusted provider type, actively distrusted by 40% of consumers, while digital banks struggle to match the perceived stability of traditional institutions. This data highlights a big challenge for fintechs, and shows than brands need to go beyond functionality to focus on emotional reassurance.

US insights

Trust first: the defining factor in consumer choice

When it comes to choosing financial products, US consumers are clear about what matters most — trust in the brand. According to Attest’s 2026 consumer trends research, trust is the top-ranked factor for 31% of Americans, placing it well ahead of other considerations like customer service, convenience, or investment returns. While cost-conscious consumers may still be drawn to low fees, which claim 22% of first-choice rankings, trust stands alone as the most consistent and cross-cutting priority.

This emphasis on trust is especially strong among women (35% vs. 27% of men), older consumers (34% of those aged 45–54), and lower earners who are more likely to face financial vulnerability. In fact, trust ranks first across all income levels — highlighting its universal role in financial decision-making. 

The message for financial services brands is simple: if consumers don’t trust you, they won’t choose you. This has particular implications for digital-first and challenger brands, who may not yet have the brand equity or reputation of legacy institutions. For them, trust must be actively earned and continually reinforced.

Hidden fees and weak support erode trust

While trust leads the way, low fees come a close second, especially for older and lower-income consumers. Among those earning under $50k, 25% rank lowest fees as their top consideration — compared to just 17% among those earning over $100k. This cost sensitivity underscores how closely pricing transparency is tied to trust.

We also see this in consumers’ reaction to hidden or unexpected charges. The data shows a clear link between surprise costs and customer churn, with 40% of consumers reporting lost trust after getting stung by a surprise fee and a further 30% switching providers in response. This is particularly dangerous for digital-only brands, which often rely on automated onboarding and self-serve models where customers may not read the fine print.

Customer service, too, plays an interesting role. While only 12% of consumers rank it as their top priority overall, it performs consistently well across the middle ranks (15–18%) and emerges as more important for higher earners and the 35–44 age group. For these groups, strong customer service acts as a trust enhancer. And when service falls short — or is difficult to access — it becomes a liability.

Digital providers and cryptocurrency platforms are especially vulnerable here. With fewer face-to-face interactions and limited live support, these brands must find ways to provide responsive, empathetic service through digital channels. Automation is useful, but it’s not a substitute for real, human help when things go wrong.

Building trust in a low-tech, high-scrutiny market

Surprisingly, technology is not a priority for consumers choosing financial products in 2026. Only 4% rank “best tech” as their top factor, and 34% place it dead last. Even among the youngest cohort (18–24), just 6% rate technology as their first priority. For older generations and high-income consumers, its importance drops even further.

This presents a challenge for fintechs and crypto brands that differentiate on UX, innovation, or app design. While those features can enhance usability, they do not on their own drive purchase decisions, and they certainly don’t build trust. In fact, digital providers already face a significant trust gap.

Cryptocurrency platforms, in particular, face a trust crisis, with 40% of consumers actively distrusting them – nearly six times higher than traditional banks at just 7%. Neo banks, meanwhile, occupy an uncertain middle ground, with 28% of consumers neither trusting nor distrusting them. This indicates that these newer players are still in a ‘probationary period’ with consumers reserving judgement and, consequently, they must work harder to win them over.

What this means for financial services brands

Consumers are sending a clear signal: trust is the currency that counts. For traditional institutions, this reinforces the importance of long-term relationship-building, consistent service, and clear communication. For digital-first brands, fintechs, and disruptors, it means trust must be designed into every interaction.

Here are four ways financial brands can respond:

• Lead with transparency. Hidden fees and vague product terms undermine confidence. Clear, upfront pricing and simple language will always earn more trust than clever positioning.
• Balance digital ease with human support. Consumers may not rank customer service first, but poor experiences damage trust quickly. Make help accessible, empathetic, and useful.
• Build clarity into product design. With “ease of understanding” gaining importance lower down the list, brands that make their offerings simple to grasp will win more consideration – especially among newer or less confident customers.
• Reinforce reputation with proof points. Whether it’s customer reviews, security certifications, or transparent performance data, third-party validation can strengthen consumer confidence.

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