{"id":10246,"date":"2021-04-13T12:11:23","date_gmt":"2021-04-13T10:11:23","guid":{"rendered":"https:\/\/www.fundacionbankinter.org\/noticias\/recuperar-la-confianza-retos-y-soluciones\/"},"modified":"2025-12-01T23:34:35","modified_gmt":"2025-12-01T22:34:35","slug":"regaining-trust-challenges-and-solutions","status":"publish","type":"noticias","link":"https:\/\/www.fundacionbankinter.org\/en\/news\/regaining-trust-challenges-and-solutions\/","title":{"rendered":"Regaining Trust: Challenges and Solutions"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">As discussed in previous chapters, trust is the cornerstone on which positive relations can be built across all societal areas to regaining trust.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Without trust, there is no shared present, and there is no shared future.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>No sector is free from the lack of trust<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The widespread lack of trust is driven by three vectors: <strong>(dis)information, governance, and technology<\/strong>. However, the dynamics of trust within each sector and between stakeholders vary.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.edelman.com\/sites\/g\/files\/aatuss191\/files\/2021-01\/2021-edelman-trust-barometer.pdf\">2021 Edelman Trust Barometer<\/a> indicates that the pandemic and the subsequent healthcare, social and economic crises exacerbate the trust issue. A <strong>new path to rebuild trust<\/strong> must be charted.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The data are alarming: Out of all actors analyzed (government, NGOs, mass media and companies) only companies are perceived as <strong>competent<\/strong> and <strong>ethical<\/strong>, the two <strong>essential elements of trust<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;Most citizens expect&nbsp; corporations in general and <strong>CEOs<\/strong> in particular to <strong>fill in the void of trust left by Public Administrations<\/strong>. Because of this, companies face a <strong>huge challenge and opportunity<\/strong>: fulfilling the citizens&#8217; expectations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The problem with high expectations is that the gap between the expectations and reality widens. 65% of respondents think CEOs should lead against the pandemic, and only 29% think CEOs are doing that.<a><\/a><a><\/a><a><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Cross-sectional innovative solutions<\/strong><strong><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When an institution or corporation loses trust, there are <strong>two non-exclusive shifts.<\/strong><strong><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>From the issuer to the receiver<\/strong><strong><\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The institution or corporation takes measures to regain the trust lost, either voluntarily or to comply with regulation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Within this model we can find:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Blockchain solutions<\/strong>: they use Distributed Ledger Technologies, whereby the institution or company dumps its processes in a transparent, data and transaction tamper-proof technology .<\/li><li><strong>Digital tools<\/strong>: they promote open data and transparency.<\/li><li><strong>There are solutions that meet the Open Trusted Technology Provider\u2122 Standard (O-TTPS)<\/strong>, created and promoted by The Open Group, made up of the large hardware and software global manufacturers. They seek to support suppliers to build highly secure and robust products, ultimately enabling user trust.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>From the receiver to the issuer<\/strong><strong><\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This model is based on citizens or users looking for trustworthy options.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here you will find:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Zero-Trust Solutions<\/strong>: Anonymous search engines or DTL-based solutions that are not anonymous, but they are confidential.<\/li><li><strong>Trusted party solutions<\/strong>: Tools that allow trust in well-known, close circles, or via referral.<\/li><li><strong>Trusted solution certified by a third party<\/strong>: Digital platforms that certify and ensure the authenticity and goodwill of the other parties.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">All these technological solutions are framed within the <strong>TrustTech<\/strong>. This category includes companies, platforms and services that enable trusted relations between people and human organizations (public bodies, companies, or the administration).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you&#8217;re interested to know what the main solutions are for the <strong>banking industry<\/strong>, <strong>large corporations<\/strong>, <strong>media outlets<\/strong> and <strong>big tech<\/strong> to regain trust, please read the full report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Faced with the loss of confidence in an institution or company, two movements can occur, which are not exclusive. from sender to receiver and vice versa.<\/p>\n","protected":false},"featured_media":10019,"template":"","meta":{"_acf_changed":false,"_oaas_summary":"Trust is fundamental for building positive relationships across all areas of society, yet it is currently in short supply everywhere. The widespread erosion of trust is fueled by misinformation, governance failures, and technological challenges, though its dynamics vary by sector and stakeholder. The 2021 Edelman Trust Barometer highlights how the COVID-19 pandemic and ensuing crises have worsened trust issues. Notably, among governments, NGOs, media, and companies, only businesses are widely seen as both competent and ethical\u2014key components of trust. Citizens increasingly expect corporations and CEOs to fill the trust gap left by public institutions, presenting both a significant challenge and opportunity. However, expectations often exceed reality, as many feel CEOs are not sufficiently leading during the pandemic.\n\nTo regain trust, two main approaches exist. Institutions and corporations can proactively enhance transparency and accountability through innovations like blockchain, open data tools, and secure technology standards such as the Open Trusted Technology Provider\u2122 Standard. Alternatively, users may seek trustworthy options themselves, leveraging zero-trust solutions, trusted party networks, or third-party certifications to verify authenticity and goodwill. Collectively, these technological and procedural advances fall under the emerging field of TrustTech, which aims to foster reliable interactions between individuals and organizations. For detailed strategies tailored to sectors like banking, corporations, media, and tech, the full report offers comprehensive insights.","_oaas_audio_url":"https:\/\/www.fundacionbankinter.org\/wp-content\/uploads\/2025\/12\/summary-10246-1764628480.mp3"},"categories":[],"class_list":["post-10246","noticias","type-noticias","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Regaining Trust: Challenges and Solutions<\/title>\n<meta name=\"description\" content=\"Faced with the loss of confidence in an institution or company, two movements can occur to Regaining Trust.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fundacionbankinter.org\/en\/news\/regaining-trust-challenges-and-solutions\/\" \/>\n<meta property=\"og:locale\" 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