Financial services·NPS follow-up
What's behind low NPS scores
You run NPS and satisfaction surveys every quarter. But a survey can't tell you what actually happened to the customers who scored you low.
How one study led to change
The challenge
A mobile banking app's loan application flow had both low NPS and low completion rates—and detractors rarely left comments explaining why.
How the study ran
We followed up with customers who gave low scores or abandoned their applications. The AI started from the score and worked down to the exact step where they got stuck.
What we found
The proof-of-income step is the main reason applicants drop out midway
What changed
Applicants can now save their progress and upload proof of income later.
Low NPS on loan applications: what customers actually ran into
Low scores come mainly from the application process itself, not the credit limit or interest rate. First let people upload proof of income later, then show approval progress.
Key findings
- 47%The proof-of-income step is the main reason applicants drop out midway
- 40%Not seeing approval status was the top complaint among low scorers
- 18%Credit limits and interest rates weren't the main issue
Recommended actions
- 1Let applicants save progress and upload proof of income later
- 2Show approval progress and estimated time in the app
- 3Leave the credit limit and rate as they are for now
About this study: method · sample · limitations
Method
Follow-ups with customers who gave low NPS scores or abandoned their applications. The AI traced each score to the step where they got stuck. Interviews averaged 10 minutes, and compliance reviewed the interview guide first.
Sample
60 customers who scored 0 to 6 or abandoned an application in the past month: 38 new, 22 existing.
Limitations
Only mobile banking applications were covered, not branches. Feedback from low scorers leans negative and should be read alongside feedback from high scorers.
The proof-of-income step is the main reason applicants drop out midway
"I had my documents ready way ahead of time. Uploading was quick."
Participant 130 · Existing customer · 01:30Not seeing approval status was the top complaint among low scorers
"I got a text the same day. Pretty quick."
Participant 140 · Existing customer · 01:15Credit limits and interest rates weren't the main issue
"The rate was a bit higher than other banks. That's why I hesitated."
Participant 145 · Existing customer · 02:05Each recommendation maps to a finding. After it ships, check the metric on the right to see whether the finding holds.
| Recommendation | Based on | Expected impact | Validation metric | Status |
|---|---|---|---|---|
| 1Let applicants save progress and upload proof of income later | 28 got stuck gathering documents | Application completion rate | ConfirmedApplication completion 52% → 61% | |
| 2Show approval progress and estimated time in the app | Top complaint from low scorers | NPS, support call volume | In progressNPS 12 → 21 | |
| 3Leave the credit limit and rate as they are for now | Only 11 mentioned it | Application conversion rate | ConfirmedApplication conversion unchanged |
How many of the 60 participants mentioned each theme (one person can mention several). Darker cells mean a higher share within that group.
| Theme | Total | New customers38 | Existing customers22 |
|---|---|---|---|
| Gathering documents | 28 | 22 | 6 |
| No visibility into approval status | 24 | 12 | 12 |
| Too many steps | 19 | 13 | 6 |
| Credit limits and rates | 11 | 5 | 6 |
| Customer service | 9 | 4 | 5 |
The proof-of-income step is the main reason applicants drop out midway
I had to upload proof of income and didn't have it on me. Figured I'd do it later, then forgot.
I didn't know if bank statements counted. I was scared that if I uploaded the wrong thing I'd have to start all over.
I wish I could've just saved my progress.
I had my documents ready way ahead of time. Uploading was quick.
Not seeing approval status was the top complaint among low scorers
Three days after I submitted, nothing. I had no idea where it was stuck.
I only found out I was missing a document after I called customer service.
I got a text the same day. Pretty quick.
Credit limits and interest rates weren't the main issue
The rate's fine. The process is just a pain.
The rate was a bit higher than other banks. That's why I hesitated.
I had to upload proof of income and didn't have it on me. Figured I'd do it later, then forgot.
I didn't know if bank statements counted. I was scared that if I uploaded the wrong thing I'd have to start all over.
I wish I could've just saved my progress.
Three days after I submitted, nothing. I had no idea where it was stuck.
I only found out I was missing a document after I called customer service.
The rate's fine. The process is just a pain.
I had my documents ready way ahead of time. Uploading was quick.
I got a text the same day. Pretty quick.
The rate was a bit higher than other banks. That's why I hesitated.
Interview guide
Why they applied
Core questionWhat did you plan to use the loan for?
Follow-upWhy this bank
Where they got stuck
Core questionWhich field were you filling out when you stopped?
Follow-upWhat happened at that point
Concerns
Core questionWas there anything that worried you?
Follow-upThe exact wording or clause
Trying again
Core questionWhat would bring you back to finish the application?
Follow-upThe one thing that most needs to change
Participants
60 customers who scored 0 to 6 or abandoned an application in the past month: 38 new, 22 existing.
This section needs behavior data (for example, from ThinkingAI Agentic Engine). Without it, the rest of the report works as usual.
What they said
"I uploaded my proof of income the same day. It was the approval that was slow."135
What the behavior data shows
Left the proof-of-income upload page after 6 minutes. Returned to finish 3 days later.
What they said
"I never contacted support."138
What the behavior data shows
Called the support line twice during the application and hung up after waiting over 5 minutes each time.
For 11 of 60 customers, what they said didn't match their activity logs, mostly about when they uploaded documents.
heari capabilities used in this study
Compliance review first
Compliance reviews the interview guide and follow-up boundaries first; interviews don't collect account, transaction, or other sensitive data.
From a score to the exact step
The AI starts from the NPS score and asks which step customers got stuck on and what happened there.
Grouped by application step
Low-score reasons are grouped by application step, pinpointing the proof-of-income step.
Check completion rate and NPS
After "save progress, upload later" shipped, we compared the application completion rate and NPS.
Research examples from other industries
Find out what's behind your satisfaction scores
Bring your NPS or satisfaction data. We'll work with you in heari to follow up on the reasons behind the scores.
