Banks in Bahrain lead their peers in the region in earning trust of their customers, according to new research by SunGard, a software and technology services firm.

The research surveyed more than 1,000 consumers in 10 countries across the Middle East and Southeast Asia about current attitudes and expectations of the consumer banking relationship, reported the Gulf Daily News, our sister publication.

While 80 per cent of respondents in Bahrain trust their bank, the highest figure out of all Middle East countries surveyed by SunGard, less than half of respondents (46 per cent) felt their bank understands their needs well.

This is evident in the increasing trend towards multiple banking relationships, driven partly by growing demand for service personalisation.

The survey found that 47 per cent of respondents claim to have little or no financial knowledge.

According to SunGard, this presents an opportunity for Bahraini banks to educate and advise their customers more to deliver an improved client service and drive agile growth for their business.

When asked to name one or more areas they would like to see their banks improve, 46 per cent highlighted mobile banking and 41 per cent highlighted online banking services.

This is another area of opportunity for banks, as 55 per cent of Bahraini respondents are currently not using mobile banking and therefore could be targets for this increasingly popular banking feature.

"Despite the fact that banks in Bahrain enjoy a high level of consumer trust, this research illustrates that they are not yet capitalising on this," SunGard Financial Systems Middle East managing director Wissam Khoury said.

"It is clear that banks must invest in enhancing their multichannel propositions to empower staff to serve customers more effectively and drive greater revenue from existing relationships and prospective customers," he said.-TradeArabia News Service