Matt FarnhamLast month Roy Morgan released their latest Risk Monitor findings for brand trust and distrust. One key highlight caught my attention: banking has climbed to become Australia's fourth most trusted industry, a remarkable rise of 14 places in just six months. Bunnings continues to lead as the top trusted brand overall, the finance sector as a whole, including banks, superannuation, insurance, and payments, is making strong gains.
In contrast, other industries face ongoing challenges. Telecommunications ranks as the least trusted sector, impacted heavily by Optus's triple-zero outage. Supermarkets continue to struggle with public perception. Even major technology companies are slipping, with Google dropping five places and Microsoft falling 37 spots in the distrust rankings. Amid this landscape, banking emerges as a beacon of stability that consumers actively seek out.
As Head of Marketing and Engagement at Heartland Bank Australia, I see this shift playing out in real life. Older Australians are starting to view banks as dependable partners (again) rather than just service providers. This is in sharp contrast to pre-pandemic times and the Royal Commission - The industry had a lot of work to do in cleaning up it's reputation. This change has significant implications for how we market high-trust products, such as equity release solutions.
Practical Steps Marketers Can Take Right Now
Products like reverse mortgages require a high level of trust because they involve major life decisions for people, often in their later years. Customers naturally hesitate when the stakes feel personal and long-term. In my experience at Heartland Bank (and my 15 years in banking), the most effective approach is to move away from hard sales tactics and instead focus on providing clear, helpful guidance that builds confidence.
No one owes your their time, attention, money or business - we have to EARN IT. I try to think in this context as often as I can 'Have I earnt the right to ask this person for their business?'
Our "Turn Someday into Today" campaign at Heartland illustrates this perfectly. We share genuine stories from customers. For example, couples who have used home equity to fund much-needed renovations or family trips without the pressure of selling their family home. These narratives resonate because they use straightforward language and emphasise real benefits, creating an immediate sense of connection and trust.
Here are the specific tactics that have proven effective in our work:
- Provide practical tools from the start, such as an easy-to-use equity release calculator or a straightforward guide that answers their questions" These resources draw people in because they offer immediate value.
- Clearly communicate the built-in protections (your key trust factors), noting that strong regulations ensure fair treatment and security. This simple reassurance addresses common concerns without overwhelming detail.
- Incorporate authentic customer voices, like 'someone like me' explaining how equity release helped them. A short video shared, performs exceptionally well in engaging audiences.
- Reach customers on platforms where they already spend time: LinkedIn for professional discussions with peers in the industry, and SBS, Facebook or YouTube for the over-55 demographic. Follow up activity that gently guides them toward the next step (not a hard sell).
- Always measure beyond surface-level metrics like clicks. Use Net Promoter Scores (NPS) and analyse that data thoroughly, not to gauge sentiment, but to get the nuggets of truth that can be marketing gold. Ask whether the messaging conveys "dependable" effectively, and make adjustments based on the feedback.
The Advantage for Challenger Banks Like Heartland
Australia's major banks are seeing benefits too. For instance, Commonwealth Bank now ranks fourth overall among trusted brands. However, challenger banks like Heartland have a unique opportunity to build even deeper loyalty. We succeed by offering highly targeted advice tailored to the specific needs of older Australians navigating later-life financial decisions. A great example is our team's presence at events like the Aging Well Expo, where we simply show up, listen to concerns, and start meaningful conversations. This approach fosters genuine relationships that go beyond transactions.
This surge in banking trust represents a powerful opportunity for marketers. It allows us to simplify complex customer journeys, instill real confidence in decisions, and ultimately help people improve their quality of life. By prioritising education, authenticity, and responsiveness, we can turn positive sentiment into lasting engagement.
What is one trust-building tactic that has worked well in your marketing efforts? I would love to hear your experiences in the comments below.
Matt Farnham is an award-winning senior marketing leader with more than a decade of experience in brand, communications and customer engagement. His work has focused on helping organisations build trust, strengthen customer relationships and drive sustainable growth, particularly in highly regulated industries. In 2024, he was named Future Leader of the Year at the Australian Marketing Institute Marketing Excellence Awards. He writes about brand strategy, marketing effectiveness and customer behaviour at mattfarnham.au.
Shoutout Roy Morgan Risk Monitor, Dec 2025 (18,204 Aussies 14+). Grab it here: https://www.roymorgan.com/findings/10157-risk-monitor-quartely-update-december-2025
