Banking on Banks 2026: Financial services in an age of uncertainty

Europe’s financial services sector is operating in one of the most challenging and volatile environments in recent memory.

Ongoing geopolitical instability, including the conflict in the Middle East, persistent inflation, spiraling energy bills, rising borrowing costs and the increased threat – and sophistication – of fraud are all impacting simultaneously on consumers and businesses across the continent.

These pressures have manifested into tax increases and base rate rises in many countries, with financial markets now expecting the European Central Bank (ECB) to hike interest rates by at least 50 basis points by the end of this year in a further hit to borrowers.1

Since 2022, CRIF’s Banking on Banks series has tracked consumer pain points and evolving expectations, as well as how the financial services industry is responding to their changing needs.

This year’s research analyzes the views of consumers from across the UK, Ireland, Italy, Germany and Poland to understand their experiences and whether financial institutions are meeting them at the moments that matter. For the first time, we have also gathered the view of business leaders from the same markets.

As with last year, these findings will be presented in two reports. This first report focuses on how consumer and business leaders’ view of the current geopolitical climate and how well they see financial providers responding to and supporting them during this difficult, uncertain period – as well as their wider role in promoting the resilience of Europe.

The second report, which will be published later this year, will drill down into specific factors that vary across consumer and business services – with a focus on how bringing business-related services closer in speed and quality to consumer services would support economic growth in Europe at this difficult time.

Our findings reveal that while trust in financial providers broadly remains, confidence in delivery is fragile amidst ongoing economic shocks. By exploring the critical issues impacting Europe’s financial services sector and those it serves, this report highlights the challenges and opportunities facing forward-looking providers.