The banking and financial services sectors have experienced significant challenges in the past few years: The Royal Commission put ethics squarely in focus and public perception of banks suffered. In addition, an increase in competitive alternatives in banking and financial services coupled with crisis-driven changes in market conditions are challenging the future of traditional institutions.
The ability to build trust remains at the centre of thriving in business, and yet in a competitive and challenged field, trust is much more than being seen to be doing the ‘right thing’.
“Trust is more than a code of ethics and it is more than PR management…”
Trust is more than a code of ethics and it is more than PR management. Culture may be intangible but it IS visible – publicly, online! In this week’s webinar kicking off the FINSIA (Financial Services Institute of Australasia) ‘Future of Finance’ 2021 series, I co-presented with futurist, researcher and author Rocky Scopelliti. Our discussion centred around how the nature of trust changed rapidly with the events of 2020, how technology will be central in building trust going forward, and where people play their part, individually and within organisations.
Coming from the Brand Culture advisory and Personal Branding for professional services perspective, I focused on practical frameworks for assessing and addressing the level of alignment between brand and culture within an organisation, and ways to build internal professional confidence with staff and external brand trust with stakeholders. I demonstrated examples of just how easily an organisation’s culture and leadership style is visible online… and the I walked FINSIA members through 3 frameworks to work with these concepts for themselves and their teams: NWC’s Brand Expression Quadrant, Trust Map, and Personal Branding ‘DECA’ model.
See below for sample model…