Mystery Shopping for the Banking and Financial Services Industries

Mystery Shopping can be extremely valuable for the banking and financial services industries, in helping businesses within them to ensure that:

  • Standards of service are maintained
  • Relevant procedures are adhered to
  • The quality of advice that is provided by staff is maintained at a high standard
  • Appropriate sales opportunities are being identified and seized by staff.

Example businesses and situations

For report-based or Video Mystery Shopping: Physical locations e.g. banks, building societies, the offices of financial advisors, mortgage brokers, etc.

In-home visits: e.g.  from financial advisors etc.

Telephone and online enquiries can be made also (e.g. to financial advisory or brokerage firm offices and contact centres for large and small organisations).

How is Mystery Shopping used and what are the potential benefits?

The applications here can be many and varied. Business premises can be assessed for elements relating to the presentation as in more typical retail scenarios. General standards of customer service can also be assessed along with wait times, staff member efficiency and interpersonal skills. The identification of relevant products and services for customers is another valuable area of exploration along with the more involved area of advice provision and sale of (often complex) products and services. Telephone enquiries (Mystery Calls) can be made to offices and contact centres to assess the handling of basic requests and much more complex scenarios where advice is provided.  Video Mystery Shopping can sometimes also be appropriate and beneficial here especially in relation to more complex in-person interactions.

If you would like to discuss the possibility of Mystery Shopping for a business in the banking or financial services industry, please don’t hesitate to contact us.

Schedule a discovery call or call now on 01392 984224.