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


  • Peter McCormack
  • Jonathan Deacon
  • David McMillan


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 & David McMillan, 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

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    References listed on IDEAS

    1. 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.
    2. 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.
    3. 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.
    4. Nelson, Phillip, 1970. "Information and Consumer Behavior," Journal of Political Economy, University of Chicago Press, vol. 78(2), pages 311-329, March-Apr.
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