Technology
Visualizing the Importance of Trust to the Banking Industry
Visualizing the Importance of Trust to the Banking Industry
In the digital age, money is becoming less tangible.
Not only is carrying physical cash more of a rarity, but we are now able to even make contactless payments for many of the products and services we use on the fly.
Our financial transactions are starting to be analyzed and optimized by artificial intelligence. Meanwhile, investments and bills are paid online, and even checks can now be deposited through our phones. Who has the time to visit a physical bank these days, anyways?
Trust in the Digital Age
The migration of financial services to the cloud is increasing access to banking solutions, while breaking down barriers of entry to the industry. It’s also creating opportunities for new service offerings that can leverage technology, data, and scale.
However, as today’s infographic from Raconteur shows, this digital migration has a crucial side effect: trust in financial services has emerged as a dominant driver of consumer activity.
This likely boils down to a couple major factors:
- Tangibility
Financial services are becoming less grounded in physical experiences (using cash, visiting a branch, personal relationships, etc.) - Personal Data
Consumers are rightfully concerned about how personal data gets treated in the digital age
Further, the above factors are compounded by memories of the 2008 Financial Crisis. These events not only damaged institutional reputations, but they elevated trust to become a key concern and selling point for consumers.
Trust, by the Numbers
In general, trust in banks has been slowly on the rise since hitting a low point in 2011 and 2012.
At the same time, consumers are consistently ranking trust as a more important factor in their decision of where to bank. To the modern consumer, trust even outweighs price.
Top Five Factors for Choosing a Bank:
- Ease and convenience of service (47%)
- Trust with the brand (45%)
- Price/rate (43%)
- Service resolution quality and timeliness (43%)
- Wide network coverage of ATMs (40%)
It’s important to recognize here that all five of the above factors rank quite closely in percentage terms. That said, while they are all crucial elements to a service offering, trust may be the most abstract one to try and tackle for companies in the space.
With this in mind, how can financial services leverage tech to increase the amount of trust that consumers have in them?
Tech Factors That Would Increase Consumer Trust:
- Reliable fraud protection (36%)
- Technology solves my problems (13%)
- Useful mobile application (9%)
Better fraud protection capability stands out as one major trust-builder, while designing technology that is useful and effective is another key area to consider.
Stocks
Ranked: America’s Largest Semiconductor Companies
This graphic visualizes the market capitalizations of America’s 15 largest semiconductor companies.

Ranking America’s Largest Semiconductor Companies
As our world moves further into an era of widespread digitization, few industries can be considered as important as semiconductors.
These components are found in almost everything we use on a daily basis, and the ability to produce them domestically has become a topic of national security. For example, in 2022 the Biden administration announced the CHIPS and Science Act, which aims to strengthen America’s position in everything from clean energy to artificial intelligence.
With this in mind, we’ve ranked the top 15 U.S. semiconductor companies by their market capitalizations.
Data and Highlights
The data we used to create this infographic is listed in the table below. Year-to-date (YTD) returns were included for additional context. Both metrics are as of May 30, 2023.
Rank | Company | Ticker | Market Cap (USD billions) | YTD Return |
---|---|---|---|---|
1 | Nvidia | NVDA | $992 | 180.2% |
2 | Broadcom | AVGO | $335 | 45.1% |
3 | AMD | AMD | $202 | 95.7% |
4 | Texas Instruments | TXN | $160 | 8.2% |
5 | Qualcomm | QCOM | $129 | 8.2% |
6 | Intel | INTC | $125 | 12.2% |
7 | Applied Materials | AMAT | $115 | 41.2% |
8 | Analog Devices | ADI | $89 | 9.2% |
9 | Lam Research | LRCX | $85 | 52.1% |
10 | Micron Technology | MU | $78 | 42.3% |
11 | Snyopsys | SNPS | $71 | 45.4% |
12 | KLA | KLAC | $63 | 21.8% |
13 | Marvell Technology Group | MRVL | $54 | 76.2% |
14 | Microchip Technology | MCHP | $42 | 11.2% |
15 | ON Semiconductor | ON | $36 | 36.3% |
At the top is Nvidia, which became America’s newest $1 trillion company on Tuesday, May 30th. Shares pulled back slightly over the day and Nvidia closed at $992 billion. Over the past decade, Nvidia has transformed from a gaming-focused graphics card producer to a global leader in AI and data center chips.
In third and sixth place are two of America’s most well known chipmakers, AMD and Intel. These longtime rivals are moving in opposite trajectories, with AMD shares climbing 770% over the past five years, and Intel shares falling 47%. One reason for this is the data center segment, in which AMD appears to be stealing market share from Intel.
Further down the list we see Applied Materials in seventh, and Lam Research in ninth. Both firms specialize in semiconductor manufacturing equipment and thus play an important role in the industry’s supply chain.
Trade War Impacts
As tensions between the U.S. and China escalate, chipmakers are becoming increasingly entangled in geopolitical conflict.
In October 2022, the Biden administration introduced new export controls aimed at blocking China’s access to semiconductors produced with U.S. equipment. This impacted several companies in our top 15 list, including Lam Research and Applied Materials.
Shortly after the export controls were announced, Lam Research said it expected to lose upwards of $2.5 billion in annual revenues.
We lost some very profitable customers in the China region, and that’s going to persist, obviously.
– Doug Bettinger, CFO, Lam Research
In response, China announced in May 2023 that it would no longer allow America’s largest memory chipmaker, Micron, to sell its products to “critical national infrastructure operators”.
This is not the first time Micron has been involved in a controversy with China. In 2018, the firm alleged that Fujian Jinhua Integrated Circuit, a Chinese state-owned company, had solicited a Micron employee to steal specifications for memory chips. The U.S. Department of Commerce imposed export restrictions on Fujian Jinhua as a result.
Chipmakers on both sides of the Pacific will be closely watching as competition between these two countries heats up.
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