Financial institutions, healthcare providers most trusted with personal data, OWI Labs survey finds

If American citizens had to choose one industry with which they would trust their most sensitive personal information, the majority would choose banks and financial institutions, with healthcare providers coming a close second, a new poll from OWI Labs and Lucid has discovered.

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Together, healthcare companies and financial institutions accounted for 75 percent of all polled with the query: “Which industry do you trust the most with your personal data?”

Respondents chose banks and financial institutions first, with 43 percent of those polled. Healthcare providers followed, earning the crown of most-trusted from 32 percent.

From there, the remaining industries fell far behind. Tech companies and the government were tied, each named the most trustworthy by 10 percent of respondents.

Coming in last were retail stores, with just 5 percent of those polled saying they would trust stores the most. The results were based on a survey of 211 U.S. consumers conducted by OWI Labs, in cooperation with Lucid.

OWI Insight: It’s no surprise that banks, financial institutions, and healthcare providers are most trusted by U.S. consumers. Why? Regulation and history have helped their reputations. Those industries have been handling sensitive data and have been monitored in their handling of that information for decades. Tech companies and retail stores do not have a long, storied reputation in handling sensitive personal information. The poor showing for the government might come as some surprise, considering the role regulation appears to play for other segments. However, this result is likely emblematic of a lack of faith in the current political system — a recent survey found that just 18 percent of voters approve of the U.S. Congress.