Business reputation of the bank as a social and psychological phenomenon

High economic results, positive image and impeccable reputation are indicators of the effectiveness of business processes in the organization. In the modern context, a good reputation makes the company more attractive for investors, increases its capitalization and revenue, provides stronger positions when entering new markets and supporting various strata of society. Individuals and legal entities trust banks to handle their money and savings and grant the right to make various financial transactions on their behalf. Besides, the reputation of the clients depends on the transaction speed. Therefore, when choosing a bank, customers are primarily guided by its business reputation, which is a multifaceted concept consisting of various components. The author considers the features of the bank’s business reputation as a social and psychological phenomenon and proposes measures to increase the level of confidence.