U.S. Bank has earned top honors in the 2013 Privacy Trust Study for Retail Banking conducted by privacy and information security research firm the Ponemon Institute. This is the seventh year in which U.S. Bank has claimed the number one position and the 10 th year that it has ranked in the top five.
Now in its 10 th year, the study measures consumer perceptions of trustworthiness in retail banking institutions, specifically how issues related to consumer privacy and data security – and the ways in which retail banking institutions address those issues – translate to consumer opinion.
“Despite financial woes in the economy, the majority of consumers in this study still see its primary banking institution as committed to protecting their personal financial information,” said Larry Ponemon, founder and director of the Ponemon Institute. “Ponemon Institute research has revealed that there are specific factors that contribute to a trusted relationship. These are the perceived financial stability of the bank, the quality of customer service, a respectful approach to advertising with easy opt-out features, rigorous online identity and authentication procedures and a stated or implied commitment to stand behind the customer in the event of identity theft or other related crimes.”
“Trust is the primary ingredient in building loyalty with our customers,” said Dan Burks, chief privacy officer at U.S. Bank. “Everything we do as a bank, every product we offer and every service we provide is viewed through the lens of doing what’s best for our customer. This study demonstrates that by working hard to do the right thing for our customers, we can continue to earn and deserve their trust.”The 2013 Privacy Trust Study for Retail Banking was conducted from April to July 2013 and derived from a final sample of 5,559 surveys returned from U.S. adult consumers. For more information about the report, please contact firstname.lastname@example.org. About the Ponemon InstituteThe Ponemon Institute© is dedicated to advancing responsible information and privacy management practices in business and government. To achieve this objective, the Institute conducts independent research, educates leaders from the private and public sectors and verifies the privacy and data protection practices of organizations in a variety of industries. Visit them online at www.ponemon.org. About U.S. BankU.S. Bancorp (NYSE: USB), with $353 billion in assets as of June 30, 2013, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. Celebrating its 150th anniversary this year, the company operates 3,087 banking offices in 25 states and 5,032 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.