In what could be one of his last major appearances before moving on, Greg Medcraft, chairman of ASIC, was interviewed by Jennifer Hewett, at the AFR Banking & Wealth Summit on the future of financial markets and regulation. Medcraft said he was "still really troubled" with continuing banking scandals on FX, bank bill rate manipulation, and insurance. "The best asset banks have is the trust of their customers. What we see when we go and look is that we uncover a lot of bad behaviour. "Trust is declining - and the most powerful arbiter of conduct is not the regulator, it's the crowd, and leaves a large organisation nowhere to hide poor conduct," Medcraft warned. In this he was on the money, with Jenny Wilson, customer partner at Deloitte, who a day earlier had discussed how the highly educated and higher earners, in the 35-55 age groups with professional careers, are the customers who trust banks the least.  "It's a very valuable demographic," she said.  Those who have been with their bank two to three years are the ones who trust their banks the least. In order to measure trust and to deal with ways of improving it, need to be able to break down the reasons why customers are mistrustful."It's not just around security of info, but what's being done with that info. And is there reciprocity - what are you giving back to me to help me with my financial situation in return to all the info I'm giving you?"  "The community banks are at higher levels of trust; challenger banks are next, then Big Four," Wilson said.   "What you need is a sense of humanisation, for trust to really be sustained - and this doesn't take a lot of branches." Investor home buyers have the lowest level of trust, and having a financial planner doesn't help, but having financial planning interactions does help - which opens the door for roboadvice. Anna Bligh, from the Australian Bankers Association said their research showed people had  a "significantly higher" level of trust in their own bank - "it's when people are being asked about 'banks' to the banking industry in general that the trust rating plummets."Wilson said that the research did not go to that level of detail, just asking: do you generally trust in banks?" We need to distinguished between trustworthiness and trust.  "Intuitively, there is so much [commentary] in the public domain about some of the issues that are unfolding, but we haven't seen that playing out in our research as much as expected," she said.  Medcraft: "In an oligopoly, people won't bother changing banks as they see them as all being the same."  Every time a bank takes an out of cycle interest rate increase, it chips away at trust "If it's to limit new lending, why does the back book get affected as they are not getting new loans?" he asked. And yet there is change on the way, often through more legislation, Medcraft added. "The directive to act in the best interesting