Illustrative engagement. A representative scenario showing how we approach this kind of work in financial services. It does not describe a specific client; outcomes are described qualitatively.
Industry overview
What is shaping financial services
Banks, NBFCs, fintechs and wealth firms compete on trust, convenience and fair pricing, while reaching new customers in smaller towns and online.
- Digital channels now lead customer acquisition
- Financial inclusion opens new segments
- Trust and complaint handling drive loyalty
Client background
A private sector bank, working in India, 200 branches. This is an illustrative engagement: a representative scenario showing how we approach this kind of work, not a named client project.
- Organisation
- A private sector bank
- Sector
- Financial services
- Team engaged
- Market Research
- Services
- Offline data collection, Quantitative research, Data analytics & dashboards
Client challenge
Service quality varied across branches and management had little independent evidence.
Research objectives
- Deliver on the brief: mystery shopping across bank branches.
- Produce results that can be compared across groups and locations.
- Give the client evidence it can act on within 8 weeks.
Target audience
Scope: 200 branches.
Audiences we typically reach in financial services
Retail customersSmall business ownersNew-to-credit customersBranch and agent staffWealth clients
Geographic coverage
Coverage: India, 200 branches. Market: India. 200 branches covered.
- India
Research methodology
A structured quantitative design, so results could be compared across groups, locations and time.
- 1Brief
- 2Mystery shopping
- 3Branch scorecards
- 4Insight
Trained mystery shoppers visited branches with standard scenarios and scored greeting, product knowledge and process compliance.
Offline data collectionQuantitative researchData analytics & dashboards
Sampling strategy
- Respondents were selected across India, 200 branches using quotas set in advance for each location and respondent type, so no single area or group dominated.
Data collection
- Trained local-language interviewers conducted interviews in person, supervised in the field.
- Auditors and mystery shoppers followed a standard checklist, recording evidence at each visit.
Data quality & validation
- Back-checks on a share of completed interviews
- Time and location checks on field interviews
- Supervisor accompaniment in the field
- Photo or document evidence for audit points
- Second-reviewer checks on scores
- Logic and range checks on the final data
- Work carried out under our ISO 20252 quality procedures
Data analysis
- Cross-tabulation by key groups and locations
- Significance testing on the differences that mattered
- Interactive dashboard for ongoing tracking
Key findings
- Branch scorecards highlighted training needs in specific regions.
Independent observation reveals what reports miss.
Recommendations
- Build on the core insight: independent observation reveals what reports miss.
- Focus effort where the evidence was strongest: branch scorecards highlighted training needs in specific regions.
- Re-measure after the changes to confirm the effect.
Business impact
- The bank launched targeted coaching.
What changed in the business as a result of the work. Impact is described qualitatively.
Deliverables & next steps
- Insight report and management presentation
- Cleaned data file and data tables
- Interactive dashboard
- Repeat the measure after changes are in place to track progress.
- A natural follow-on question: how satisfied are customers across channels?