Large bank refines checking account services after listening to their customers

The challenge

A major U.S. bank serving more than 50 million customers needed to understand a persistent gap: customers were opening checking accounts but not using them as their primary account. The bank needed to know why.

Key questions included:

• What originally prompted customers to open the account?
• How are they actually using it today?
• Are their needs being met?
• What would drive greater account utilization?

Without clear answers, the bank couldn’t make targeted improvements to retention and engagement.

The GroupSolver approach

GroupSolver created distinct customer segments based on actual account usage behavior. The research framework separated customers into four meaningful groups:

1. Customers who opened but never funded the account
2. Those who funded the account but never made it their primary banking relationship
3. Customers with an active primary relationship
4. Those who had abandoned the relationship entirely

For each segment, GroupSolver used AI Open-End™ technology to capture and quantify the natural language of customer feedback — surfacing the real reasons behind usage patterns rather than relying on closed-ended survey choices.

The results

The research revealed clear, actionable themes:

• Low or no fees were the single most important factor in the initial decision to open an account
• Excessive fees were the primary driver of customer attrition
• Overall, most active customers felt their needs were being met due to convenience and low transaction costs
• Key friction points identified included ATM availability and the complexity of the deposit process

The bank used these findings to prioritize product and service improvements targeted at each customer segment.