INDUSTRY: Financial Services
BACKGROUND & KEY OBJECTIVES:
- The study aimed to analyze the usage patterns of business bank accounts among companies, focusing on the adoption and satisfaction with Finom and other business bank account providers.
- The survey targeted users of Finom and other business bank accounts to understand their preferences, reasons for choosing their bank, and their overall satisfaction with the services provided.
- Key objectives included determining the distribution of business bank accounts, evaluating the factors influencing the choice of Finom, and identifying areas for improvement based on user feedback.
Survey Focus:
- Identify which business bank accounts users have used or are currently using, including Finom and other major providers.
- Evaluate current and past usage of Finom, including user satisfaction, the main functions for which Finom is used, and its overall rating. Assess how Finom compares to other business bank accounts and the reasons for any switches.
- Investigate the factors that influenced the choice of Finom and other business bank accounts, such as price, user experience, local presence, customer support, and additional functionalities. Understand the importance of these criteria in decision-making.
- Measure the perceived value of integrated financial services offered by Finom, including additional functionalities beyond core banking. Explore users’ willingness to pay for these services and their interest in earning interest on deposits.
- Assess users’ likelihood to recommend Finom, their satisfaction level, and their future intentions regarding using or recommending Finom. Gather feedback on what could be improved and understand the impact if Finom were to cease operations.
METHODOLOGIES & APPROACH:
- A probability sample of business bank account users was surveyed.
- Length of quantitative survey: 30 Minutes
- Targeted countries: Germany & France
The survey contained questions in several sections:
- Business bank account usage
- Criteria for choosing a business bank account provider
- Satisfaction with Finom
- Comparison with other providers
- Future considerations and additional services
OUR SOLUTION:
- The survey provided an overview of the distribution of various business bank accounts among users, including Finom, and highlighted its market position relative to other major providers.
- The survey identified that Finom is actively used by a significant portion of respondents, with varied reasons for initial adoption, including a preference for its modern user experience and specific functionalities. Satisfaction levels are generally high, with users appreciating Finom’s seamless integration with other business tools and efficient customer support.
- Key criteria for selecting a business bank account included price, modern UI/UX, and responsive customer support. Finom stands out positively in these areas compared to competitors. However, users also considered other providers such as Revolut and Qonto, highlighting the importance of competitive features and pricing.