Take a walk around the high street of one of Wales’ towns and you’ll see a notable gap: there are almost no banks anymore.
In fact, 4 in 10 High Street banks have closed in Wales over the last 5 years.
That makes it really hard for people to deposit money that they make in running small businesses but it also removes a crucial meeting point from towns: no more talking to Mr Jones while you’re waiting for the next available cashier.
Banc Cambria is on a mission to change that.
Mark Hooper is part of the team behind the new community bank for Wales.
“We wanted to speak directly to people who have been left out by the big banks,” says Hooper. “It’s important that banking services reflect the needs of the communities that they’re in.”
Understanding the communities of Wales
In order to help shape their offering, Banc Cambria turned to doopoll. They created a series of short surveys to use with people from all over Wales.
The surveys quizzed community members on their specific needs and attitudes towards banking in order to paint a picture of what Banc Cambria should focus its efforts on.
“Using doopoll helped us extend our reach across the country and begin to build up a community around the project,” says Hooper. “We’ll be able to use the things we learned from the surveys to define the scope of the bank as we head towards our launch over the next few years.”
With a staggeringly high response rate of 83% to their surveys, the team is sure that they’ve got a good handle on how to better serve Welsh communities in their financial needs.
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One key challenge for people looking to enter the banking industry is how to overcome the undying loyalty that many people have to their existing banks.
“You're more likely to leave your partner than your bank,” Hooper jokes. “We wanted to find out exactly what would help us to acquire customers at Banc Cambria. So… we asked.”
Using doopoll’s Multi Slider question type, Banc Cambria built up a clear image of what might make a person switch current accounts to their developing offering.
The question included options like:
- Being able to bank in Welsh
- The bank being headquartered in Wales
- Or a branch being available in the respondent’s town
Asking a question like this and combining it with doopoll’s filtering functionality allows them to build up a series of personas and understand each individual persona differently ultimately leading to better outcomes for both the customers and the business.