The second annual Banking Trust Index for Singapore (BTIS), a survey commissioned by the Association of Banks in Singapore (ABS) showed that public trust in the Singapore banking industry continues to be resilient.
The BTIS, which began in 2021, is the first standardised means of measuring the public trust in banks in Singapore. It is commissioned by the ABS to understand the level of trust in banks by consumers, and for the association to see where banks can improve on.
The most recent survey was conducted among over 3,500 Singapore residents from Oct 4, 2021, to Nov 5, 2021, by Edelman Data and Intelligence and involved 15 participating banks. It is conducted annually for participating banks to monitor shifts in customers’ sentiments, solicit feedback and identify areas for improvement over time.