Distrust in financial institutions, especially among Black, Asian and other minority ethnic consumers, is a major challenge for financial brands in the UK, according to new insights from ClearView research.

Why it matters

Experiences of discrimination have shaped the attitudes of many Black, Asian and minority ethnic consumers towards financial institutions. The findings underline the huge challenge financial companies face in building trust with consumers who have experienced direct or second-hand discrimination using their services, and the multi-generational impact of this on their financial behaviours. 

Experiences of discrimination

“We know that distrust in financial services and the financial system isn't...