Building trust in a changing world order

The 2nd Edition of the Most Trusted BFSI Brands 2023 honed in on brands radically transforming the manner in which financial services are embedded in our daily lives

The seismic shifts that have rocked industries across the world have not left the BFSI sector untouched. Now, with customer expectations higher than ever, the role of trust has become a paramount differentiator, driving value and growth like never before. Trusted BFSI brands have garnered loyalty and a positive reputation by consistently delivering on their promises, prioritising customer needs, and upholding ethical practices while ensuring transparency, reliability, and safety. 

Scripting sustained successes

With the traditional norms of industry no longer enough to ensure sustained future success, organisations must embrace new age-models to deliver innovative and progressive customer experiences that reinforce trust and build advocacy. This is essential, as consumers are now spoilt for choice, with a plethora of banking and financial service providers entering the arena. Hence, it’s also important for organisations to come up with products and services that are more custom curated to stay competitive and build consumer trust.

In this milieu, an elite cross-section of brands have shown the way forward by demonstrating thoughtful ways to build and nurture trust, and it has profoundly impacted their ability to ensure sustained success in an ever-changing marketplace. These are the Most Trusted BFSI Brands 2023, who were recognised in an exclusive ceremony that celebrated their successes.

The 2nd Edition of this research-driven initiative showcased brands representing a new paradigm of trust and excellence, with the galaxy of brands being recognised zeroed in on after a rigorous industry-wide consumer study conducted by LeadCap Ventures. The survey saw brands appraised on the following parameters:

Relative Importance
Perceived Popularity
Quality & Consistency
Uniqueness
Value Delivered
Brand Affinity
nnovation
Privacy
Affluence
Advocacy

Those recognised as Most Trusted BFSI Brands 2023 included:

Anand Rathi Group
Bajaj Allianz General Insurance
CCAvenue
Edelweiss Mutual Fund
Edelweiss Tokio Life Insurance Company Limited
Federal Bank
Go Digit General Insurance Limited
Godrej Capital Limited
Groww
HDFC Life Insurance Company
ICICI Bank
ICICI Prudential Mutual Fund
Kotak Mahindra Bank
Lastaki Advisors Pvt. Ltd.
Mahindra Finance
Max Life Insurance
Motilal Oswal Financial Services
Muthoot Homefin (I) Ltd.
SBI Cards and Payments
South Indian Bank
State Bank of India
TATA AIA Life Insurance
Utkarsh Small Finance Bank
Zerodha

Offering his thoughts, Sharad Gupta, Co-Founder, Team Marksmen Network, said, “If brands are built over time, trust is the cornerstone on which their success stands. In an industry built on financial transactions and personal security, trust is not just a nice-to-have; it is an absolute necessity. This is not easy to do; it needs a commitment to transparency, ethicality, safety, and excellence. Those recognised as Most Trusted BFSI Brands 2023 prioritised building long-term relationships with customers by putting their needs first, safeguarding their financial interests, and maintaining the highest standards of integrity. For them, trust is not just a buzzword; it is the currency that fuels their growth, and which has rightly earned them a place in this elite pantheon.”

Team Marksmen:

Team Marksmen's mission is to bring knowledge communities to life and help business leaders from all sectors navigate the contours of a changing world order. This is accomplished by utilising a variety of bespoke industry-centric knowledge platforms, such as Roundtables, Summits & Conferences, Workshops, and Recognition Ceremonies.

We collaborate with leading thinkers from various industries on the most pressing issues confronting organisations, governments, and society, and we share our findings through thought-provoking content on our daily news and insights website, marksmendaily.com, and our quarterly business and lifestyle magazine, in Focus.

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