Trust drives customers royalty, overall stability in financial system – Experts

Financial experts have listed trust as invisible force that encourage investors confidence and stability in the nation’s financial system.

Experts who spoke at a conference organised by Association of Corporate Affairs Managers of Bank (ACAMB) said that financial industry thrives on trust and It is the invisible force that drives customer loyalty, investor confidence, and the overall stability of our financial system.

Speaking on the “Building Bridges: Collaborative solutions for Trusted Banking and financial services experiences” Mr Wale Abioya, Partner strategy and Customer Solution, KPMG in Nigeria listed transparency, credibility authenticity and responsiveness as the four pillars of trust that lead to the growth of an organisation.

He said that openness, honest and clear communication is a necessity for businesses striving to dominate in this digital age. It impacts customer

engagement and experience positively.

He said Customers are drawn to genuity and intentionality, as this fosters deep trust and connection, adding adequate communication from firms should instill

confidence in their customers, through truthful and genuine expression of issues

Admitting that trust is the new currency in the digital world, and it’s built through

transparency, authenticity, and integrity, he said Generative AI is driving new opportunities, Operational efficiencies, cost savings, and value creation.

In his key note address, the President of Chartered Institute of Bankers Nigeria (CIBN), Professor Olanrewaju Pius Oladeji said that trust is not a given; it is earned through consistent, transparent, and ethical practices.