(Source: Business Wire)Financial services information and intelligence provider BAI has put a finger on the pulse of the banking industry and its findings come today in the form of a new economic measure -- the BAI & Finacle Banking Confidence Index. The new index, sponsored by NewGround, looks at the extent to which upheaval in the financial services industry in the last six months has affected consumers' views across five areas: Financial Stress and the Economy; Access to Credit; Managing Personal Finances; Consumer Trust; and, Fees & Disclosure. The index also projects how consumers expect to feel about these areas in six month's time. To develop its new biannual index, BAI conducted 2,501 interviews across a representative sample of U.S. households in late August 2009.

"This is the first index we know of to focus exclusively on consumer sentiments vis-à-vis retail banking," said Debbie Bianucci, president and CEO of BAI. "We designed this research with a rigorous methodology, so the index will have maximum value to executives who are focused on measuring consumer trust and confidence in retail banking."

"In today's fast-changing scenario, consumer opinion counts more than ever before and technology has made the consumer highly empowered," said Haragopal Mangipudi, global head -- Finacle, Infosys Technologies Ltd. "Presented with diverse and ever-dynamic consumer segments, banks need to anticipate changing requirements and fine-tune business strategy. Finacle with BAI has launched this index for banks to gain insight into consumer trends for innovation on future business strategy and differentiated product offerings."

Among the index's findings were the following:

Financial Stress and the Economy: One-third of consumers feel their financial situation has deteriorated in recent months, but few expect things to grow worse then now.

When asked if they thought the current overall employment situation in the country was better, worse or the same as compared to six months ago, 73 percent of respondents said it was worse, 21 percent said things had remained the same and 5 percent felt the situation was better. But 40 percent felt the overall economic condition of the country would be better in six months.