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High response rate and data accuracy
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Delivery of clear and actionable insights
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High-quality data from diverse respondents in 13 countries.
CLIENT CHALLENGES
- The client – a leading retail bank with a global presence – offers a wide range of financial services including personal and business banking. It sought to understand its customers’ perception and experience surrounding its existing retail banking services. The challenges it faced included
- understanding its diverse customer base, with varying purchasing behaviour, spread across the US, Canada, the Netherlands, China, Italy, France, Spain, the UK, Belgium, Germany, Singapore, Malaysia and India
- collecting reliable data from multiple countries and languages and
- understanding customer sentiment to drive strategic improvements and innovation.
OUR APPROACH
- To address these requirements effectively, we adopted a meticulous approach to primary research. Key areas we focused on were customer satisfaction with retail banking services, service use patterns across a diverse range of customers and attitudinal insights. Our approach included the following:
- Initial desk research: We initiated the project by conducting thorough desk research into key trends and the current market landscape in retail banking, relying on competitive analysis, review of industry reports and analysis of existing-customer feedback.
- Data collection: We designed a two-tiered survey, targeting:
- Consumers above the age of 18
- Business consumers, including positions responsible for banking transactions in their respective companies (finance directors, managers, etc.)
- We conducted 300 online surveys for consumers above 18 years and 100 surveys for business consumers in all the 13 countries where the bank had a presence. The questionnaires were translated into local languages to ensure clarity and accuracy, and information was collected through CATI (computer-assisted telephone interviews), capturing nuanced insights from the respondents.
- Data analysis and reporting: The information collected was processed using advanced analytical and statistical tools. Key metrics included customer satisfaction, service use patterns and attitude towards the various retail banking services. The data was reported via the ConfirmIT portal for real-time access to the survey results.
IMPACT DELIVERED
- Our comprehensive research, encompassing expert analysts, interviewer, researchers, and advanced data analysis techniques, helped the client:
- Understand customers’ perception of its services, service-use patterns and overall sentiment.
- Prioritise its strategies and make more informed and strategic decisions
- Improve its services and communication by leveraging the insights derived from both individuals and business consumers across 13 countries
- Deploy a cost-effective solution.
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