Rebuilding reputation is a long-term project, but there are several steps banks can take today:
Refraining from activities that do not have a demonstrable customer benefit
Using big data to provide targeted products and services—not selling it to third parties
Reassessing governance models (see our Toward Effective Governance of Financial Institutions report, produced in collaboration Tapestry Networks)
Educating the broader market about the crucial intermediary role banks play for institutional investors such as pension funds