New Customer Activation Benchmarking

Our team was engaged to conduct a comprehensive assessment of the industry landscape in new customer activation in various banks from the CEE region. With our expertise in market analysis and strategic consulting, we set out to evaluate how banks are encouraging new customers to actively use their accounts, mobile apps, online banking, and card services.
  • Sector expertise
Objective

• Assessing the maturity of new customer activation strategies across banks in the CEE region

• Identifying best practices and key success factors (KSFs), drawing insights from global leaders like Revolut and N26

• Evaluating the factors influencing a customer’s decision to select a bank as their primary institution

Our approach

• We conducted 92 customer journeys across multiple banks, through an extensive 90-day mystery shopping study

• Shoppers followed specific, pre-defined actions while documenting their daily experiences, including interactions with banks and responses received

• They captured detailed records, including process recordings and screenshots, to provide a comprehensive view of the customer activation experience

• Our team analyzed engagement strategies and customer touchpoints across the entire journey

Key deliverables

• A comprehensive KSF report outlining key success factors

• A detailed best practices report, incorporating insights from top global fintechs

• 26 tailored bank reports at CEE, national, and individual levels

• Creation of a Customer Activation Index, comparing results across 10 key development areas

Our analysis provided actionable insights, helping banks benchmark their performance and improve their strategies for engaging new customers. This project delivered a clear roadmap for enhancing customer activation, grounded in data-driven insights and best practices from both regional players and global leaders in the financial sector.