47% of small business banking customers say they would switch banks if better mobile services were offered elsewhere.
This case study explores the pain points faced by small-to-medium sized enterprises (SMEs), and how banks can help meet their needs. In particular, small business owners felt that their bank could help them boost their business efficiencies by streamlining various administrative tasks and banking activities. In their endeavour to offer an innovative business solution and boost their Net Promoter Score, our partner bank launched Sensibill’s Receipts Solution to a select group of SME customers.
With the help of a third-party research firm, they explored the soft launch of Sensibill’s Receipts Solution, studying the effect in customer behaviour as well as the perception of the bank’s brand following the launch of the service. Overall, Sensibill’s easy-to-use service proved to be an effective way to give small business banking customers the control they needed when managing their cash flow and expenses.
Following Sensibill’s soft launch, users had an extremely positive impression of the bank’s brand and its ability to solve SME customers’ pain points. 74% of users felt Sensibill’s service was uniquely beneficial to business banking customers, and made them feel more understood by their bank.
88% of users had a positive experience with the service
85% of users said they would continue using the receipt management service
78% of users said they would recommend the bank because of receipt management
75% said they would stay with the bank because of receipt management