Bank and Financial Services Mystery Shopping
Measure and monitor the front line behaviors and conditions that drive business.
The banking industry is challenging, constantly changing and tough. The need for repeat business and customer loyalty makes every customer experience matter. Our mystery shopping and measurement solutions are custom designed for each client. This ensures that all metrics address each client’s unique information needs, market position, opportunities and objectives.
Mystery Shopping Experience in Banking & Financial Services Industry
- Teller transaction shops - in branch and drive up
- Customer service representative (platform) sales and service
- Financial services/brokerage service in branch referrals
- Small business banking inquiries
- Brokerage and investor services
- New account opening process
- Account closing/service recovery process
- Auto insurance
- Customer call center (telephone shops recorded or non-recorded)
- Sales associate skills, product knowledge
Key Benefits of Confero Mystery Shopping Services
Extensive Coverage. Confero conducts thousands of mystery shops each month in major cities, middle markets and small towns in the United States, Canada, Mexico and South America.
- Shopper selection process.Our process includes screening for bias and background. We then select mystery shoppers for each project based on our ratings of their prior experience conducting mystery shops for Confero. Mystery shoppers with specific demographic requirements may also be selected (gender, age, income, children, pets or homeownership).
- Shopper Education.We use a variety of methods to ensure mystery shoppers understand our client requirements before conducting mystery shops, including detailed guidelines reviews, conference call coaching and coaching reviews with our scheduling team. Mystery shoppers must pass a test based on our client requirements before becoming eligible to mystery shop.
- Insights. Scripted, pre-defined comments are not allowed; mystery shoppers provide unique comments for each mystery shop. These comments, in story form, describe the experience in detail and give clients a customer’s point of view.
- Quality. Clients trust the accuracy of our reports. Each onsite mystery shop report is validated using a geo-verification system, a purchase receipt, a business card or some combination. Each mystery shop report is individually reviewed by a member of our quality assurance team. This review ensures comments, narratives and question answers are consistent. Each client program has its own dedicated quality assurance team.
- Dedicated Service. Every client program has a dedicated Confero Client Services Manager who has experience managing mystery shopping and customer feedback programs. Our team knows that serving our Confero clients well helps them win and keep customers, earning them a Stevie Award Finalist Award for Customer Service Management Team of the Year.
- Customized solutions. We don’t force cookie cutter services onto client programs. Each mystery shopping program is developed with the client’s needs in mind.
- Performance Component. Our Manager Action Plan and Action Item Manager features help clients use the mystery shopping report information to full advantage to engage employees in performance improvement and the development of best practices.
- State of the Art Reporting. We are committed to using appropriate technologies that enhance our service quality and the actionable data that we provide to clients. This includes web based reported, recorded telephone call mystery shops and digital photo uploads.
- Real Time data. Mystery shopping reports post instantly following Confero’s rigid quality review process. Timely reports make sure clients get the maximum benefit from mystery shopping report information.
- Experience. We have 25 years of mystery shopping experience. We don’t expect clients to know all the answers. We guide clients through a detailed discovery process to ensure our clients have considered all program details and possibilities before starting the mystery shops. It is our role to make sure the program addresses client needs, is executed properly, on time and reported correctly. Our experience allows this to happen.
Mystery Shopping Programs to meet these needs:
- Spot small problems before they become big ones
- Direct your field managers to branches which require extra help
- Link incentives to front line performance
- Expose training and operational weaknesses
- Identify competitive opportunities
- Increase accountability for customer service throughout the organization
Integrate mystery shopping data with other customer or unit data:
- Announced audits
- Anonymous audits
- Field manager unit visit reports, store visit reports, critical few, self audits
- Customer feedback capture and response tracking systems
- Customer surveys—web surveys, mobile surveys, IVR surveys
- Employee surveys
- Recognition and rewards, including prizes and downloadable gifts
- Our data collection demo video demonstrates the capabilities of our Compass reporting system.
Our goal is to provide actionable mystery shopping results on time, and in an easy-to-use, secure format. Confero’s Compass reporting system delivers mystery shopping results 24/7. Dashboards communicate up to the minute results in areas that management designates as most important.
Our system provides reports suitable for every level of management:
- Senior management dashboards with drill down capability to find more detail
- Field manager trending ,performance tools so managers can get the most out of store visits
- Store mystery shop reports showing survey questions, answers and scoring so unit managers may immediately work to applaud high performing employees and correct deficiencies.
- Our robust Action Item Manager (AIM) tool allows field managers to create checklists for items to review with store personnel.
With one simple user click, all reports are available in these formats in web view, Smartphone/mobile optimized, printer friendly, PDF or Excel download.
Our reporting demo video demonstrates the capabilities of our Compass reporting system.
Contact us today to find out how mystery shopping might help your business... Whether your organization has 16 locations or 6,000, Confero has a mystery shopping service to meet your needs.
Download Fact Sheet.
ROI calculator: Use our ROI tool to estimate the return on investment that can be expected when employees know that the next shopper could be a mystery shopper.
Read case studies about banking and financial services mystery shopping.