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Mystery Shopping for Banks – How Does it Work?

By on December 10, 2018 0 248 Views

Banks tend to have a particular vision and corporate policy they are keen to implement. Mystery shopping for banks can be used to check bank staff are effectively implementing this. It runs in a similar vein to mystery shopping for legal services.

However, banking is very much a service-oriented industry. The service delivered by colleagues can largely determine the success of the bank. Specifically the effectiveness of products and services in branch. And the ability of staff to exceed all customer expectations. And provide a helpful, knowledgeable, trustworthy and friendly service.

Banks may want to work out how their staff are performing. However, internal evaluation of staff may be considered ineffective in this context. This is because it doesn’t fully prove performance.  Instead, mystery shopping for banks allows the evaluation of staff in their natural setting, such as switching a bank account.

What is required in mystery shopping for banks?

Typical observations that a mystery shopper for banks might need to make include:

  • Is the employee greeting each customer with a smile?
  • During busy periods, are staff capable of reducing the length of the queues?
  • Similarly, do staff remain calm and polite during busy periods or do they act flustered and rude when pressure increases?
  • Do staff make an attempt to fully understand customer needs and offer appropriate products or are they trying to push for sales quickly?
  • Does every customer receive a consistent level of service?

mystery shopping for banks

What are the main things I need to know about mystery shopping for banks?

Mystery shopping for banks ensures staff are implementing the correct vision and corporate policy. Branch success is heavily reliant on customer service and so staff should always deliver a high level of service, continually exceeding customer expectations. Mystery shopping for banks is the perfect way to gauge this. Allowing the evaluation of staff in their natural setting. Mystery shopping colleagues can evaluate the effectiveness of frontline staff. Making sure they are providing the best service possible. As such, things such as queue length, sales technique and politeness can be evaluated. If you want to know more about mystery shopping in general then check out the book.