IDEAS home Printed from https://ideas.repec.org/a/taf/oabmxx/v4y2017i1p1366284.html
   My bibliography  Save this article

Can trust be restored to high-street banking: A 20-year challenge?

Author

Listed:
  • Peter McCormack
  • Jonathan Deacon

Abstract

This article is based on a dissertation submitted for an MSc in Marketing submitted by the first author and supervised by the second author. It is a viewpoint article that highlights the complexity of the challenge of restoring trust to high-street/retail banking, and explores some of the related issues of conduct risk, ethics and culture. It includes a brief historical analysis reflecting structural change in the mid-1980s up to today with a link to some current thoughts and research, and concludes that the banking sector’s current ambitions to restore trust are likely to be flawed and unlikely to deliver in the timelines that the banks and regulators expect. The article concludes with a number of related issues/subjects that are worthy of further research and flags some particular questions in the conclusion.

Suggested Citation

  • Peter McCormack & Jonathan Deacon, 2017. "Can trust be restored to high-street banking: A 20-year challenge?," Cogent Business & Management, Taylor & Francis Journals, vol. 4(1), pages 1366284-136, January.
    • Handle: RePEc:taf:oabmxx:v:4:y:2017:i:1:p:1366284
    DOI: 10.1080/23311975.2017.1366284
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/23311975.2017.1366284
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/23311975.2017.1366284?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Nelson, Phillip, 1970. "Information and Consumer Behavior," Journal of Political Economy, University of Chicago Press, vol. 78(2), pages 311-329, March-Apr.
    2. David T. Llewellyn, 2005. "Trust and confidence in financial services: a strategic challenge," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 13(4), pages 333-346, November.
    3. Ashby, Simon & Palermo, Tommaso & Power, Michael, 2012. "Risk culture in financial organisations: an interim report," LSE Research Online Documents on Economics 47488, London School of Economics and Political Science, LSE Library.
    4. Darby, Michael R & Karni, Edi, 1973. "Free Competition and the Optimal Amount of Fraud," Journal of Law and Economics, University of Chicago Press, vol. 16(1), pages 67-88, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. J. K. Pappalardo, 2022. "Economics of Consumer Protection: Contributions and Challenges in Estimating Consumer Injury and Evaluating Consumer Protection Policy," Journal of Consumer Policy, Springer, vol. 45(2), pages 201-238, June.
    2. Dhaval M. Dave, 2013. "Effects of Pharmaceutical Promotion: A Review and Assessment," NBER Working Papers 18830, National Bureau of Economic Research, Inc.
    3. Gu, Yiquan & Rasch, Alexander & Wenzel, Tobias, 2022. "Consumer salience and quality provision in (un)regulated public service markets," Regional Science and Urban Economics, Elsevier, vol. 93(C).
    4. Cai, Dapeng & Jørgensen, Jan Guldager, 2017. "Mutual Recognition for Sale: International Bargaining over Product Standards," Discussion Papers on Economics 1/2017, University of Southern Denmark, Department of Economics.
    5. Jhunjhunwala, Tanushree, 2021. "Searching to avoid regret: An experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 298-319.
    6. Marco Costanigro & Yuko Onozaka, 2020. "A Belief‐Preference Model of Choice for Experience and Credence Goods," Journal of Agricultural Economics, Wiley Blackwell, vol. 71(1), pages 70-95, February.
    7. Fabienne Chameroy & Jean-Louis Chandon, 2011. "Are All Labels Ethical? [Les labels sont-ils tous éthiques ?]," Post-Print hal-02092068, HAL.
    8. Bester, Helmut & Ouyang, Yaofu, 2018. "Optimal procurement of a credence good under limited liability," International Journal of Industrial Organization, Elsevier, vol. 61(C), pages 96-129.
    9. Charity, Nabwire Ephamia Juma, 2016. "Economic Analysis Of Consumers’ Awareness And Willingness To Pay For Geographical Indicators And Other Quality Attributes Of Honey In Kenya," Research Theses 265574, Collaborative Masters Program in Agricultural and Applied Economics.
    10. Haucap, Justus, 2017. "The rule of law and the emergence of market exchange: A new institutional economic perspective," DICE Discussion Papers 276, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    11. Earl, Peter E., 2012. "Experiential analysis of automotive consumption," Journal of Business Research, Elsevier, vol. 65(7), pages 1067-1072.
    12. Ngobo, Paul-Valentin & Jean, Sylvie, 2012. "Does store image influence demand for organic store brands?," Journal of Retailing and Consumer Services, Elsevier, vol. 19(6), pages 621-628.
    13. Sharon Horsky, 2006. "The Changing Architecture of Advertising Agencies," Marketing Science, INFORMS, vol. 25(4), pages 367-383, 07-08.
    14. Langinier Corinne & Babcock Bruce A., 2008. "Agricultural Production Clubs: Viability and Welfare Implications," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 6(1), pages 1-31, December.
    15. Sophie Bienenstock, 2016. "Consumer education: why the market doesn’t work," European Journal of Law and Economics, Springer, vol. 42(2), pages 237-262, October.
    16. David Bardey & Denis Gromb & David Martimort & Jérôme Pouyet, 2020. "Controlling Sellers Who Provide Advice: Regulation and Competition," Journal of Industrial Economics, Wiley Blackwell, vol. 68(3), pages 409-444, September.
    17. José Manuel Álvarez Zárate (Editor), 2016. "¿Hacia dónde va América Latina respecto al derecho económico internacional?," Books, Universidad Externado de Colombia, Facultad de Derecho, number 860.
    18. Jan-Peter Kucklick & Jennifer Priefer & Daniel Beverungen & Oliver Müller, 2023. "Elucidating the Predictive Power of Search and Experience Qualities for Pricing of Complex Goods – A Machine Learning-based Study on Real Estate Appraisal," Working Papers Dissertations 112, Paderborn University, Faculty of Business Administration and Economics.
    19. Reardon, Thomas & Codron, Jean-Marie & Busch, Lawrence & Bingen, R. James & Harris, Craig, 1999. "Global Change In Agrifood Grades And Standards: Agribusiness Strategic Responses In Developing Countries," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 2(3-4), pages 1-15.
    20. Onozaka, Yuko & Saue, Vegar Veseth & Costanigro, Marco, 2018. "The Moderating Effect of Heterogeneous Beliefs on Consumer Preferences for a New Food Technology: The Case of Modified Atmospheric Packaging," 2018 Annual Meeting, August 5-7, Washington, D.C. 274068, Agricultural and Applied Economics Association.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:oabmxx:v:4:y:2017:i:1:p:1366284. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://cogentoa.tandfonline.com/OABM20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.