Overwhelmed, Jaded, Cautious: What data reveals about people's trust in financial services

One in a series from Finsights, Shiny’s study of U.S. adults’ attitudes toward financial services.

Finsights, Shiny’s proprietary study of U.S. adults, set out to understand how people think and feel about financial services—and what they expect from providers. The research uncovers the mindsets, emotions, and attitudes that shape how individuals approach money and financial institutions.

Our research identified four distinct segments defined by attitudes, behaviors, and motivations, and largely not defined by demographics. We named those segments:

• Engaged & Trusting (20% of respondents)
• Overwhelmed & Worried (26% of respondents)
• Jaded & Skeptical (29% of respondents)
• Cautious & Concerned (25% of respondents)

 Trust isn’t uniform—it’s shaped by experience

One theme cut through loud and clear in the study: trust in financial services is both situational—and strikingly low. Only 30% of respondents named national banks as the most trustworthy financial institutions. Trust in credit unions and local banks was even lower—20% and 16%, respectively.

Trust doesn’t hinge on brand or market share. It hinges on how people feel in their real-life moments of financial stress, uncertainty, and need. Two segments in particular—Overwhelmed & Worried and Jaded & Skeptical—highlight just how fragile and situational trust can be:

The Overwhelmed & Worried segment is concerned about affording necessities, worried about being judged, and unsure which financial products and services they need. For this group, trust levels in national banks, credit unions, and local banks were rated similarly, ranging between 21% and 27%.

The Jaded & Skeptical segment believes financial institutions don’t understand them, treat customers like a number, and are out of touch technologically. Even national banks, which scored highest, only earned trust from 25% of this group. Trust in credit unions and local banks dropped even lower: 14% and 13%.

In financial services, trust isn’t optional. People need to feel confident that financial institutions protect and help them leverage and grow the money they depend upon for everything from everyday essentials, to paying for that treasured family vacation. Without trust, engagement stalls.

These findings make one thing clear: trust doesn’t live in categories—it lives in context. It lives in the day-to-day. In how people experience a provider’s tools, support, and responsiveness when it matters most. That’s why earning trust isn’t a branding challenge—it’s an operational one.

And for financial services brands, that creates a powerful opportunity: to design for trust in every interaction, not just in campaigns.

Trust isn’t about what a brand says. It’s about what it does.

Consumers evaluate trust not by mission statements, but by behavior in the moments that matter most, like:

• How fees are disclosed
• How someone is supported through a stressful financial decision
• Howtools help people move closer to their goals—not just track progress
• How alerts and notifications are surfaced

These are the proof points that matter—especially for individuals in the Overwhelmed & Worried and Jaded & Skeptical segments. Individuals in these segments are not disengaged – they are actively seeking support. But they remain cautious and uncertain about who to trust.

For any financial institution—whether a national bank, fintech, credit union, or regional player— the urgency is clear: consumers are searching for support, but trust is fragile.

That’s the opening to lead with action. Their expectations are clear: support that is practical, transparent, and emotionally aware.

Clarity builds confidence
For those navigating the stress of financial complexity, confidence doesn’t come from promises—it comes from clarity. For the Overwhelmed & Worried segment, financial decisions often feel confusing or overwhelming. Personalized budgeting tools that break down past spending, real-time notifications that flag low balances, and simple explainers can reduce uncertainty and give people a greater sense of control.

Radical transparency builds credibility
For the Jaded & Skeptical segment, trust must be earned through proof, not promises. Transparency is the only starting point. Visible and easy to understand fees and terms, simple explainers on how data is protected and clear product comparisons help consumers feel equipped to make their own best choice.

Design needs to match emotional realities
Finsights shows that both the Overwhelmed & Worried and the Jaded & Skeptical segments are actively looking for support—but they approach financial decisions with very different doubts. One hesitates out of confusion and fear of mistakes; the other out of distrust.

In both cases, consistency and clarity in everyday interactions—like showing predictable fee structures, offering intuitive UX, or providing a path to follow-up with an actual person when issues arise—signal reliability. Over time, those proof points do more to build trust than any brand campaign.

Institutions don’t need to outspend competitors—they need to out-care them. Trust is built in the small, everyday moments that define the relationship and prove whether a provider is truly dependable.

Want to dig deeper? Download our Finsights report for deeper data and detailed segment findings.