The purpose of the study was to measure the impact of banking fees. The hypothesis was the following:
H1: Banking fees cause a decrease in a large bank’s Net Promoter scores.
We performed predictive analytics to examine the hypothesis. We found that banking fees did not cause a decrease in its Net Promoter scores. The primary issue was that the bank’s customers were dissatisfied with its online and mobile banking capabilities. In response, the company stopped refunding service fees, took personal advisers out of the branches, and repurposed those resources to improve its online banking experience.