CASE STUDY

Banking Consumer Research

Case Study Key Points

Independent research commissioned by the bank to explore public awareness and attitudes toward their banking offer.
Research conducted in three stages: exploratory, qualitative, and quantitative.
Insights inform strategic decisions regarding banking services.

Background

Our banking client commissioned us to conduct an independent research study to assess public perceptions and awareness of their banking offer. The objective was to build an evidence base around consumer banking decisions and understand market dynamics for their service.

Solution

The research was conducted in three stages:

Exploratory Research:

Desk research and literature review to understand existing market insights.
Focus groups to identify key themes.

Qualitative Research:

In-depth interviews conducted via online video software.
Participants included a cross-section of the public, covering diverse demographics (gender, age, location, and occupation).

Quantitative Research:

An online survey incorporating advanced analytics approaches.
Collected data to validate insights from qualitative discussions.

Strategic Impact

The study provided the Bank with a detailed understanding of consumer expectations and preferences. Key strategic takeaways include:

The need to balance digital banking solutions with accessible physical branches.
Enhancing customer trust through transparent communication and service accessibility.
Potential opportunities for regional banking services to cater to specific community needs.

Results

The research findings have informed strategic decision-making regarding the Bank’s service offerings. Insights gained will guide the development of a balanced banking approach that integrates digital advancements with physical branches, ensuring alignment with consumer expectations.

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