Davos 2016: Less Trust in Banking Industry Than at the Start of the Financial Crisis

New Book Highlights Causes and Potential Solutions to the Trust Meltdown

January 19, 2016. Davos. -- The banking industry continued to face severe negativity in 2015, despite some efforts to restore trust, according to new research launched today at the World Economic Forum by Media Tenor International. On television news, banks once again had a worse image than during the 2007/2008 crisis. The industry was even described more negatively than airlines and railways, which mostly made news in 2015 because of tragedies and disasters.

The banks, however, are not the only source of the trust meltdown. Media Tenor’s research also shows that central banks communicated less effectively in 2015 compared to previous years, highlighting the ongoing lack of trust in those hired to steer the economy.

"While the global economic crisis in 2007/2008 seemed to be a sudden event, it was really just the start of what now seems to be a new, unfortunate status quo in the way we view our key corporate, governmental, and social institutions," says Racheline Maltese, a researcher at Media Tenor.  "We're in the eighth year of a global trust meltdown that has resulted in an ongoing lack of faith in banks, regulators, and governments. Change can happen, but it will require ongoing persistence."

Media Tenor's Trust Meltdown VII provides a scientific perspective on the state of trust around the world. With analysis focused on North America, Europe, Asia, and Africa, Trust Meltdown VII looks not just at causes, but at potential solutions with input from experts like Roland Schatz, founder and CEO of Media Tenor International; Milind Lele, founder and president of Tangram Solutions; and Brian Pallas, the CEO, chairman, and founder of Opportunity Network, a business matchmaking platform.

This research looks at all 2,284 reports on international TV news, January 1, 2015 - December 31, 2015; all 82,995 reports in opinion-leading business media on the banking industry, July 1, 2011 - December 31, 2015; 207,138 quoted financial analyst statements on in opinion-leading business media, January 1, 2012 - December 31, 2015.

For over 20 years Media Tenor's mission has been to contribute to objective, diverse, and newsworthy media content by bringing together the diverse parties. Media Tenor's global research projects include analyses of election campaigns, investor relations, public diplomacy, corporate communications and other topics critical to news makers and news audiences.

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