On April 16, 2013, the Aspen Institute Initiative on Financial Security (Aspen IFS) launched The Better Banking Project, a new effort to identify and promote best practices in the financial services industry.
The launch event featured a policy discussion entitled “Is Trust a Lost Cause?: Banks, Consumers and a Post-Crisis World.” Susan Ochs, Senior Fellow at Aspen IFS and founder of the Better Banking Project moderated the panel. The discussion featured Eliot Spitzer, former governor and attorney general of New York; Raj Date, former deputy director, US Consumer Financial Protection Bureau; and Robert Wolf, CEO, 32 Advisors and former CEO, UBS Americas.
The Better Banking Project also released a new paper, The DNA of Trust in Banking, which reveals that consumer trust is not driven by honesty or value but by helpfulness. The research was conducted by BAV Consulting with the BrandAsset Valuator, the world’s largest consumer database on brands.