Impact & Expertise

Center for Consumer and Customer Insight Impact Stories

Deep Consumer Insights for a Financial Institution

See how BCG used consumer research and a unique “branch lab” pilot to improve a financial institution’s product offering.

BankCo is a major U.S. financial institution with a historical focus on traditional financial services products such as checking and savings accounts and home equity loans. It was the number one player in many markets, having established its position largely through mergers and acquisitions.

However, BankCo was faced with increased competition from new, more innovative players that were offering extended hours, more inviting retail-store branch layouts, and more innovative services. In addition, BankCo was suffering from low customer satisfaction and retention rates, low employee morale, and low share-of-wallet among its existing customers.

BCG partnered with BankCo to help it develop a strategy to increase profitability through a new, tailored mass-market financial services offering.

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  • Senior Partner & Managing Director
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