bank customer visit report

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How to Write a Visit Report

Last Updated: March 30, 2024 References

This article was co-authored by Madison Boehm . Madison Boehm is a Business Advisor and the Co-Founder of Jaxson Maximus, a men’s salon and custom clothiers based in southern Florida. She specializes in business development, operations, and finance. Additionally, she has experience in the salon, clothing, and retail sectors. Madison holds a BBA in Entrepreneurship and Marketing from The University of Houston. This article has been viewed 664,958 times.

Whether you’re a student or a professional, a visit report helps you document the procedures and processes at an industrial or corporate location. These reports are fairly straightforward. Describe the site first and explain what you did while you were there. If required, reflect on what you learned during your visit. No additional research or information is needed.

Writing a Visit Report

Explain the site's purpose, operations, and what happened during the visit. Identify the site's strengths and weaknesses, along with your recommendations for improvement. Include relevant photos or diagrams to supplement your report.

Describing the Site

• Reports are usually only 2-3 pages long, but in some cases, these reports may be much longer.
• In some cases, you may be asked to give recommendations or opinions about the site. In other cases, you will be asked only to describe the site.
• Ask your boss or instructor for models of other visit reports. If you can't get a model, look up samples online.

• If you visited a factory, explain what it is producing and what equipment it uses.
• If you visited a construction site, describe what is being constructed and how far along the construction is. You should also describe the terrain of the site and the layout.
• If you’re visiting a business, describe what the business does. State which department or part of the business you visited.
• If you’re visiting a school, identify which grades they teach. Note how many students attend the school. Name the teachers whose classes you observed.

• Who did you talk to? What did they tell you?
• What did you see at the site?
• What events took place? Did you attend a seminar, Q&A session, or interview?
• Did you see any demonstrations of equipment or techniques?

• For example, at a car factory, describe whether the cars are made by robots or humans. Describe each step of the assembly line.
• If you're visiting a business, talk about different departments within the business. Describe their corporate structure and identify what programs they use to conduct their business.

Reflecting on Your Visit

• Is there something you didn’t realize before that you learned while at the site?
• Who at the site provided helpful information?
• What was your favorite part of the visit and why?

• For example, you might state that the factory uses the latest technology but point out that employees need more training to work with the new equipment.
• If there was anything important left out of the visit, state what it was. For example, maybe you were hoping to see the main factory floor or to talk to the manager.

• Tailor your recommendations to the organization or institution that owns the site. What is practical and reasonable for them to do to improve their site?
• Be specific. Don’t just say they need to improve infrastructure. State what type of equipment they need or give advice on how to improve employee morale.

Formatting Your Report

• If you are following a certain style guideline, like APA or Chicago style, make sure to format the title page according to the rules of the handbook.

• Don’t just say “the visit was interesting” or “I was bored.” Be specific when describing what you learned or saw.

Sample Visit Report

Community Q&A

You Might Also Like

• ↑ http://services.unimelb.edu.au/__data/assets/pdf_file/0010/471286/Site_Reports_for_Engineers_Update_051112.pdf
• ↑ https://www.examples.com/business/visit-report.html
• ↑ https://www.thepensters.com/blog/industrial-visit-report-writing/
• ↑ https://eclass.aueb.gr/modules/document/file.php/ME342/Report%20Drafting.pdf

About This Article

To write a visit report, start by including a general introduction that tells your audience where and when you visited, who your contact was, and how you got there. Once you have the introduction written out, take 1 to 2 paragraphs to describe the purpose of the site you visited, including details like the size and layout. If you visited a business, talk about what the business does and describe any specific departments you went to. Then, summarize what happened during your visit in chronological order. Make sure to include people you met and what they told you. Toward the end of your report, reflect on your visit by identifying any strengths and weaknesses in how the site operates and provide any recommendations for improvement. For more help, including how to format your report, read on! Did this summary help you? Yes No

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Visit Report Format

Visit report samples, what is visit report, the basic format of a visit report, how to write a proper visit report, what are some examples of a visit report, how many pages does a visit report have, what is a trip report memo, how do you write a visit report, what is included in a site visit report, how to prepare a site visit report, how to prepare for a customer visit, what should a report include, what is a customer visit report, how do i end a report, what is the summary of the activity report, what does a report look like, what is the objective of a site visit report.

1. Title Page

• Organization Name
• Visitor’s Name
• Date of Visit

2. Introduction

• Purpose of Visit
• Location of Visit

3. Details of the Visit

• Activities Undertaken
• Observations

4. Findings

• Summary of Observations
• Key Points Noted

5. Conclusion

• Summary of Visit
• Recommendations

6. Appendices (if any)

• Additional Documents
• Photographs

Visit Report Sample

Visit Report PDF

Field Visit Report Sample PDF

Site Visit Report Template Word

Visit Report Template

Sample School Visit Report

Customer Visit Report Template

Field Visit Report

Sample Site Visit Report

Customer Visit Report Outline

Sample Industry Visit Report

New Customer Visit Report Template

Construction Site Visit Report

Sample Customer Visit Report

Free School Visit Report Template

Sample Official Overseas Visit Report

Weekly Site Visit Report

Project Field Visit Report

Recommendation Study Visit Report

Observation Site Visit Reports for Engineers

Simple Industrial Visit Report

School Lab Visit Analysis Report

Building Construction Property Visit Report

Medical College Visit Report

Sample Location Visit Report

Monitoring Visit Report Summary

Marketing Team Site Visit Report

School Academic Visit Report Template

Chemical Exposure Visit Report

Business Renewal Site Visit Report

Management Conference Visit Report

Pre-Event Site Visit Report Example in PDF

Sample Parent Visit Report Format

Home Tour Visit Report Template

Report of Research Visit

Daily Food Sponsor Visit Report Example

Sample Civil Site Monitoring Visit Report

Why Are Visit Reports Important?

Step 1: determine your purpose, step 2: be observant and write what happened, step 3: reflect on your visit, step 4: download a template and insert the details, step 5: organize details according to the format.

• Site visit report
• Business visit report
• Field trip visit report
• Industrial visit report
• Monitoring visit report

• Define the Purpose: Clearly state the visit’s objectives and expected outcomes. For example, the purpose of a  Training Report  may include identifying partnership opportunities.
• Collect Information: Take detailed notes during the visit, and use photos or videos to supplement your observations.
• Organize Data: Categorize the information into sections such as background, observations, and analysis.
• Draft the Report: Begin with an introduction, followed by detailed observations, analysis, and end with a summary and recommendations.
• Review and Finalize: Proofread for accuracy and clarity, ensuring the report follows the planned structure and incorporates stakeholder feedback. You may also see  Lab Report
• Introduction: State the purpose, date, duration, and participants involved. For instance, a Construction Site Visit Report should specify the project stage being assessed.
• Site Description: Provide a detailed description of the site, current conditions, and relevant background information.
• Observations: Offer a detailed account of activities, notable events, and any issues encountered.
• Analysis: Interpret the observations, relating them to the visit objectives and providing insights.
• Conclusion and Recommendations: Summarize key findings and provide recommendations for future actions or improvements. You may also see  Technical Report
• Pre-Visit Preparation: Understand the visit’s purpose and objectives, gathering necessary information beforehand.
• Data Collection: Take comprehensive notes during the visit and use multimedia tools to document observations.
• Data Organization: Organize the collected data into coherent sections, highlighting significant observations.
• Report Drafting: Write an introduction, detailed body sections covering observations and analyses, and a conclusion with recommendations.
• Review and Finalization: Proofread for accuracy and clarity, ensuring the report meets its objectives and incorporates stakeholder feedback. You may also see  Police Report
• Research: Understand the customer’s needs, preferences, and background information.
• Planning: Schedule the visit, prepare an agenda, and coordinate with relevant team members. You may also see  Social Media Report
• Materials Preparation: Gather all necessary documents, presentations, and product samples.
• Team Briefing: Brief your team on the visit’s objectives, roles, and responsibilities.
• Follow-Up: Plan post-visit actions, such as sending a summary email and addressing any customer queries. This approach can be applied to a Home Visitation Report to ensure thorough preparation and follow-up.

• Title and Introduction: Clearly state the report’s title and provide an overview of its purpose and scope. For example, an Internship Report should highlight the intern’s role and learning objectives.
• Methodology: Describe the methods used to collect and analyze data.
• Findings: Present detailed findings, supported by data and observations. You may also see  Weather Report
• Discussion: Analyze the findings, discussing their implications and significance.
• Conclusion and Recommendations: Summarize key insights and provide actionable recommendations for future actions. This format is equally effective for a School Visit Report to convey the visit’s outcomes comprehensively.

What does the site visit report example cover?

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Research report

Banking Consumer Study: Reignite human connections

5-minute read

• Banks can strengthen fraying customer connections with life-centric solutions and better engagement across digital and physical channels.
• Most digital channels today are less than helpful in forging personal connections with customers.
• Our research reveals bank customers across generations still value branches, which they use for specific, important transactions.
• By taking steps to build more meaningful personal relationships, banks could boost revenue from primary customers by up to 20%.

Banks have a golden moment on their hands

Powerful forces, from rising rates to breakthrough technology, are converging to create an opportunity for banks to transform their relationships with customers. The revenue boost from higher interest rates may induce complacency, but forward-thinking banks can use it to ignite product innovation. Beneath the hype, advanced tech like generative AI might have enormous potential to revolutionize the customer experience.

Banks can harness these forces to explore the art of the possible and increase their relevance to set a new performance frontier. This golden moment is an opportunity for banks to redefine consumer banking in the 2020s; to play a more meaningful role in customers’ lives by understanding the forces that affect their individual lives and helping them achieve their aspirations.

RELATED: It’s 2023. Do banks still need branches?

Understanding the ever-changing customer and new competition

Accenture's latest global study of 49,000 consumers reveals crucial details about today’s banking consumers—chief among them growing customer dissatisfaction and industry fragmentation, leading consumers to seek out new providers.

of respondents rate their main bank's customer service as excellent

rate their main bank highly for its range of products and services and for the competency of its tailored financial advice

recently acquired a financial services product from a provider other than their main bank

Consumers’ relationships with their banks are becoming increasingly impersonal. The survey shows that most consumers use their bank’s digital channels for quick functional tasks only. This suggests that digital channels are functionally correct but emotionally devoid. They don’t help a bank turn a transactional relationship with a customer into a genuine human connection.

Consumers still value the branch

Our survey found that consumers across all generations and nearly all geographies still value physical bank branches in their neighborhoods. This surprising affinity for branches is clear evidence of consumers’ desire to have a personal interaction with their banks. 

In addition, more than six in 10 turn to branches to solve specific and complicated problems. Pain points are set to become more acute as the economic impact of the rising cost of living sets in. As consumers navigate those challenges, they will want to have genuine conversations with their banks. Most digital channels today don't offer that.

Three pivots to reimagine the customer relationship and unlock value

Banks can respond to these trends and boost their customer relevance with three distinct but related pivots. Each helps replicate what customers appreciate about the branch: an opportunity to have a personal conversation, discuss their needs, and receive tailored advice about products and services and ways to improve their finances.

From journey to intent

Moving from a frictionless digital customer journey to understanding customers’ motivations is as rewarding as it is challenging.

Personal conversations

Deeper understanding of customers' circumstances can enable advice that’s relevant. Next-gen tech like generative AI can play a crucial role.

Holistic experiences

Banks that remove silos can offer holistic propositions that mix products—including non-banking ones—through physical and digital touchpoints.

Together these pivots can build a more human connection, activating what we call the “multiplier effect,” where banks maximize the power of their relationships to achieve top-line growth.

Read the full report for more details, including four strategic plays for success that can help banks transform their customer relationships for future relevance and growth.

A multiplier effect can help banks increase revenues from primary customers by up to 20%, depending on the market. In the US, this translates to $100B in annual retail banking revenue at stake.

Related insights

• Top 10 banking trends for 2023
• Read our life centricity playbook

Michael Abbott

Senior Managing Director – Global Banking Lead

Kim Kim Oon

Managing Director – Accenture Strategy, Banking

Customer journey mapping in banking: A 7-step framework for success

In today's competitive banking landscape, providing an exceptional customer experience is crucial. The way to deliver this is through understanding the customer journey, and this is where customer journey mapping comes in. By visualizing the customer's interactions and experiences at each touchpoint, banks can gain valuable insight and make informed decisions that help tether customers to their brand.

Key takeaways

Journey mapping helps identify areas for improving and optimizing the overall customer experience.

79% of companies say their journey maps have allowed them to become more customer-centric.

Traditional banks are under threat—digital-only banks are gaining favor, making CX even more important to differentiate.

What is customer journey mapping in banking?

The customer journey in banking begins the moment the customer starts interacting with your bank’s products and services. It provides a roadmap for how your customers interact with your bank. That can be in the simplest forms, such as opening a digital account or making a transaction. As loyalty builds, customers may come to your bank for mortgages and wealth-building products.

No matter the product or service, customers today expect banks to deliver seamless digital experiences through a website or app. Online banking has opened the door to digital customer journey mapping , where banks can see and analyze every touchpoint a customer makes along the way.

A retail banking customer journey map visually shows every step a customer takes—from the first interaction to capturing every engagement with your bank over time. Customer journey mapping uncovers key insights such as:

What behaviors do customers exhibit

What customers are engaging with on your website or app

What actions customers take or don’t take

Where there’s friction or areas of struggle

Once these insights are visually mapped, banks can use them to improve functionality, fix errors and identify opportunities to increase conversions or decrease time-consuming roadblocks.

Example of a retail banking customer journey map

According to Hanover Research , 79% of companies say their journey maps have allowed them to become more customer-centric. Below is an example of a typical retail banking customer journey.

Image source

Why is customer journey mapping important for banks?

Customer journey mapping empowers banks to gain a deeper understanding of how their customers interact throughout their entire experience with the brand.

During the process, banks can identify and address inconsistencies or gaps in services with the goal of improving customer loyalty, retention, engagement and the overall customer experience.

According to Bankrate's key statistics on digital banking in 2023 , approximately 60% of consumers say they are very or somewhat interested in using a digital-only bank in the next year. The generation most interested in digital banks is millennials—a demographic traditional banks need to grow revenue.

In a highly competitive industry that’s undergone incredible digital transformation in recent years, one size does not fit all. Simply providing digital access to products and services isn’t enough. Customer journey mapping gives banks the opportunity to get a granular picture of the digital experience so they can differentiate and innovate to win over customers.

The benefits of customer journey mapping in banking

Customer journey mapping in banking is a gateway to gaining a deeper understanding of customers, making customer service a priority, improving customer retention rates, optimizing the customer experience, eliminating ineffective touchpoints and better predicting customer behavior.

Below, we’ve identified four of the key benefits of customer journey mapping for retail banks.

1. Improves customer satisfaction

Understanding the customer journey is imperative for banks to improve customer satisfaction. Customer journey mapping uncovers key insights, such as pain points, and empowers banks to proactively address them. By streamlining processes and reducing friction, banks can significantly improve customer satisfaction levels.

2. Enhances customer loyalty

Just as a negative customer experience can drive customers away from your brand, a positive experience is directly linked to customer loyalty. Customers want to do business with a bank that makes their journey effortless and fruitful. By identifying and eliminating pain points, banks can create a seamless and enjoyable experience that encourages customers to stay with the bank for the long term.

3. Increases cross-selling and upselling opportunities

Core offerings such as checking or savings accounts may be the bread and butter for a bank, but to grow revenue, they need to cross-sell and upsell too. Customer journey mapping helps banks identify moments where they can introduce additional products and/or services to existing customers. By understanding the customer's needs at each touchpoint, banks can offer personalized recommendations that add value to the customer's banking experience.

4. Optimize channel integration

With the rise of digital banking, customers now interact with banks through various channels, including online, mobile, and in-person. Customer journey mapping enables banks to optimize the integration of these channels, ensuring a consistent and seamless experience across all touchpoints.

👀 Check out The Complete Guide to Customer Journey Maps for more benefits.

How to create a customer journey map in banking: A 7-step proven framework

Banking customer journeys are critical in today’s world, where there are so many touchpoints to connect with consumers and so many devices they interact on. Because of how important they are, we’ve pulled together a 7-step framework below to set your bank up for success.

1. Define customer segments

Begin by identifying the different customer segments that the bank serves, such as baby boomers, millennials and Gen Z. Each segment has different needs and expectations, requiring tailored customer journey maps.

Various segments may also bank differently. According to research , Gen Z is less likely to have a traditional bank account than millennials or baby boomers. The same study revealed that just 47% of Gen Z respondents, versus 75% of baby boomers and 70% of millennials, claimed to have an account with a traditional bank, credit union, neobank or technology company. Only 28% of baby boomer respondents, compared to 73% of millennials and Gen Z, indicated they had used a mobile banking platform in the last three months.

2. Identify key touchpoints

Map out the various touchpoints where customers interact with the bank, including digital platforms like websites and mobile apps or call centers. Highlight the key stages from initial awareness to becoming a loyal customer.

Examples of touchpoints are:

• Advertising (including digital or print)
• Social media
• Welcome/thank you emails
• Physical branches
• Customer service
• Influencer recommendations
• Peer reviews
• Customer onboarding
• Physical and digital events

👉🏻Learn more about the different touchpoints in The Complete Guide to Customer Journey Maps .

3. Gather customer data and feedback

Engage with customers to gather feedback on their experiences at each touchpoint. Use surveys, polls and live chats, just to name a few, to collect customer feedback.

A voice of customer (VoC) program can help you gather customer feedback. When integrated with a digital experience intelligence (DXI) platform like Glassbox, you get data around the context of customer feedback, so you can understand:

What performance issues the customer experienced

What parts of your website or app customers interact with

Which audience segment they were from (depending on the tool you use)

This data gives you a holistic view of the customer experience and enables data-driven decisions.

👉🏻Find out how your bank can benefit from implementing a VoC program in The Complete Guide to Voice of Customer .

4. Map the customer journey

Create a visual representation of the customer journey, including all stages and touchpoints. This can be done using flowcharts, diagrams or specialized customer journey mapping software. Emphasize the importance of empathy and understanding customer emotions.

👉🏻Find customer journey map examples and templates in The Complete Guide to Customer Journey Maps .

5. Identify pain points and opportunities

With a customer journey map in place, banks can analyze it to identify pain points, bottlenecks and opportunities for improvement. With this data in hand, banks can prioritize these areas and implement changes to enhance the customer experience.

It’s important to understand the issues and challenges banking customers face. We’ve outlined the most common ones below:

Complex onboarding processes: Overly complicated onboarding with many steps to complete provides a negative first impression that diminishes customer experience.

Poor user experience (UX): Confusing website or app navigation, slow loading times and unresponsive design can frustrate customers and cause them to leave.

Lack of personalization: Customers may feel that their bank doesn’t understand their individual needs, resulting in irrelevant offers and services.

Complex products and services: Difficulty understanding complex financial products and services can hinder decision-making.

Limited digital services: Banks that lag in offering digital services, such as mobile check deposits, digital account opening or online loan applications, may frustrate customers.

Cross-channel inconsistency: Varying experiences between online, mobile and in-branch services can cause confusion and frustration.

Ineffective communication: Customers may not receive timely or relevant communication from their bank, leading to missed opportunities or misunderstandings.

Inadequate customer support: Difficulty reaching customer support or receiving timely assistance when facing issues or inquiries can cause frustration.

Security concerns: Worries about data breaches, identity theft and fraudulent activities can erode trust in online banking.

🔥 Hot tip: Using a digital experience intelligence tool like Glassbox to identify points of friction at important touchpoints in the digital journey is imperative when trying to identify opportunities for optimization and improvements.

6. Use data to make necessary changes and improvements

Use insights to make data-driven improvements to the banking customer journey. Leverage information gained from journey visualization, AI-driven insights and business impact metrics to take actions that improve the customer experience.

7. Continuously monitor and update

The customer journey isn’t static and is continuously evolving. Monitor customer feedback, industry trends and changes in customer behavior regularly to ensure it’s working effectively. Having access to tools that enable banks to easily access the most meaningful insights is critical in a digital era, where the best digital experiences create loyal and engaged customers.

🔥 Hot tip: Typical data analytics tools can offer useful quantitative data, but digital experience intelligence takes insights far beyond these capabilities for macro and micro conversion points that matter most.

With a comprehensive suite of sophisticated tools, you can optimize the parts of the customer digital journey that will provide the most value to your customers and, in turn, your bottom line. Get more information about the tools you need to get ahead in the blog, Digital customer journey stages exposed: From awareness to purchase and beyond .

Examples of customer journey mapping in banking

Some high-profile banks are proficient in customer journey mapping. Whether striving to improve customer experience in a contact center or introducing new customer-centric offerings, these banks have this in common—they understand the value of customer journey mapping for retail banking. Below are examples of three banks doing customer journey mapping right.

1. Citizens Bank

Citizens Bank leveraged journey mapping to improve customer experiences with its contact centers. The bank used reviews and customer feedback for journey mapping. In the end, the mapping exercise led Citizens Bank to shift focus away from an internal metric of call handling time to a more customer-centric metric of improved first-call resolution (FCR).

2. Bank of America

Bank of America stands out for creating exceptional customer experiences and having a customer-centric approach. By mapping the customer journey at all stages—awareness, consideration, purchase, usage, loyalty and advocacy—the bank improved its mobile and online banking offerings, created a cash-back rewards program and introduced online appointments.

3. Wells Fargo

In its journey to customer experience innovation, Wells Fargo leveraged customer journey mapping to help customers better manage their finances. This process led to the introduction of a new app that helps customers keep track of and maintain more control over recurring payments for services they may no longer use.

It pays to understand your customers’ banking journeys more clearly

Customer journey mapping is a valuable tool for banks to enhance the customer experience. By understanding the customer's perspective and identifying pain points, banks can make informed decisions to streamline processes, optimize channels and ultimately provide a seamless and exceptional banking experience.

A digital experience intelligence (DXI) platform like Glassbox provides rich insights that show you the complete picture of what your banking customers are doing when engaging with your website or app—and, even more importantly, why they’re behaving that way. These advanced insights can be used to improve the banking customer journey. Learn more at glassbox.com .

1. What is customer journey mapping in banking?

A banking customer journey map visually shows every step a customer takes with digital platforms—from the first interaction to understanding everything they do while engaging with the bank over time. Customer journey mapping uncovers key insights and pain points so banks can improve the customer experience.

2. What are the benefits of customer journey mapping for banks?

The four primary benefits of customer journey mapping are:

Improved customer satisfaction

Enhanced customer loyalty

Increased cross-selling and upselling opportunities

Optimized channel integration

3. What are the steps to implementing customer journey mapping for banks?

The seven steps a bank should take to implement customer journey mapping are:

Define customer segments

Identify key touchpoints

Gather customer data and feedback

Map the customer journey

Identify pain points and opportunities

Use data to make necessary changes and improvements

Continuously monitor and update

Related content

The State of Digital Banking 2024: Consumers Say “It’s Complicated”

Mobile App UX Design: The complete guide with 16 best practices

6 Best digital customer experience strategies and why you need them

How to Plan the Perfect Customer Visit [+ Agenda Template]

Published: August 02, 2021

Now that the world is opening back up, it’s time to get out there and meet your customers face-to-face. For many newer customers, this might be their first time getting to spend time with you — especially as conferences have moved online.

Creating that connection is invaluable. But before you book that plane ticket, it’s essential to create a plan. Planning the perfect customer visit will ensure that you meet your goals and that your customer meeting will be successful. Here’s a look at how you get there.

Why plan a customer visit?

Jason Lemkin, the founder of SaaStr and EchoSign, has said “ I never lost a customer I actually visited. ” That’s a bold statement — one that's worth taking note of. But why? What is it about customer visits that has such a big impact on customer loyalty?

First of all, you get to make a stronger impression with your customers. No matter what you sell, you aren’t just selling a product — you’re also selling the people behind it.

Your vision, your passion, your knowledge are all play into the perceived value of your product or service. All of these elements come across more strongly when you visit in person. A Zoom call just isn’t enough time to go deep.

Secondly, you get to see how your customers are using your product in person. Are they constantly printing out reports to pin up on a wall? Are you seeing teams walk across the sales floor to point out something on a screen? What kind of working environment and equipment do they have? What other types of software are they using?

Everything happening behind the scenes paints a much clearer picture of who your customers are. And when it comes time to renew or jump on that next customer success call, you’ll have a lot more knowledge ready to draw on.

Finally, meeting your customers in person is a huge motivational boost! When you’re behind a screen for so long, it can start to feel like what you do doesn’t matter — or that you’re not making any real connections. But a visit to a customer’s office can change all that, and really light up your idea of “why” you do this at all.

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5 Potential Goals of Your Customer Visit

Going into a customer visit with goals in mind will help you get the most out of your time there. Here are five goals to consider when planning a customer visit:

1. Understanding Their Business Goals

If you’re visiting a client, you’re likely hoping for a long term relationship. Understanding what their future goals are can help align your product with their needs. These in-depth conversations would rarely come up over a quick phone call.

2. Gathering Feedback

Customer visits provide a unique opportunity to gather honest and in-the-moment insight into what your customers need and want. When you sit next to someone who uses your product in their daily work, there’s a lot more space to have this feedback arise. And documenting it for future sales opportunities and your product team is one of the more productive actions you can take during a customer visit.

3. Referrals

In-person visits are a great time to ask for and give referrals. Ask, “Are there any other companies that you work with that you could see our product being helpful for?” Alternatively, if a pain point is mentioned by the client and you know the perfect company to help solve it, don’t be afraid to build that connection. It’s just another way you can bring value to your customers.

4. Uncovering Opportunities for Cross-Selling or Upselling

While your primary objective shouldn’t be pitching your offering at every opportunity, you might uncover a problem that your product or service can help solve. Noting these potential value-adds can make for more effective, thoughtfully targeted upsell and cross-sell conversations.

5. Testimonials and Case Studies

Customer visits can be a unique source of sales content, including pictures for case studies, video testimonials, and strong evidence-based customer stories. If you plan on making this one of your primary goals, consider asking your client to set the stage for these kinds of materials before you visit so you already know who you’ll be speaking to, before coming onsite.

How to Plan an Onsite Customer Meeting

By putting more effort in before you go, you’ll have a much better chance of achieving your goals and impressing your clients. Here are some key actions to consider when planning your customer meeting.

Thoroughly prepare before the visit.

Before you arrive, make sure you’re up to date on the state of the customer's account. Who are they usually talking to at your company? What customer service tickets have they raised lately? Are there outstanding issues that need to be addressed? These will come up during your visit.

Secondly, understand the current ecosystem your customer is working within. Is your customer in the news? What’s happening in their industry? What threats and opportunities are arising in their business? Being prepared and knowledgeable about their inner workings will make a better impression than coming in blind.

Decide who you’re meeting with.

Start by setting up a meeting with relevant company leadership. That could be the CEO, the founders, or the VP of the functional team you're working with — depending on the company's scale. Bear in mind, while this contact might be the "reason" for your visit, they're probably not who you'll be spending the most time with.

Once you have a meeting scheduled with the company's leadership, plan the rest of your day around meeting with the team leaders and employees using your product — as well as any teams that are open to signing up or expanding the current seat count or contract scope.

Make dinner reservations for you and your clients.

Traditionally, a customer visit includes taking your client out for a nice dinner as a token of appreciation. It also offers a chance for you to get to know each other outside of the limits of the work environment and form stronger relationships.

That being said, this is not a social visit. Keep your goals in mind — even outside of work hours. If you’re familiar with the restaurants in the area, choose a place that has options for every diet and has a good atmosphere for conversations. If you’re not familiar with the available options, ask the client where they’d recommend.

Complete the wrap-up report.

After the visit is over, you still have work to do. Create a wrap-up report for your internal teams back at the office. It should cover key elements of the visit like any confidentiality agreements put in place and who at your company you can share contact information or sales figures with.

Identify any action items that came up during the visit. Include any positive highlights during the meeting as well as any risks or opportunities that arose. Create a copy of the report for your client as well, to show that you were listening to their concerns and that you’re going to follow up with them.

Customer Visit Agenda Template

Use this sample agenda to plan your own customer visit.

10 am: Welcome/Office Tour (30 minutes, w/ Stacy, Raul)

• Get settled, set up a desk or boardroom for the day

11 am: Executive Meeting (1 hour, w/ Stacy, Thomas, Ankit, Shireen)

• Overview of status, product usage, any updates
• Add any bullet points you need to cover here
• Upcoming changes or challenges for the business
• New Opportunities
• Areas of concern

12pm: Lunch

1pm: User Meetings (4 hours, rotating through Marketing teams)

• Overview of new features
• Gather feedback from users
• Sit with teams to review workflow

5pm: Wrap Up meeting (30 minutes)

• Process or configuration change recommendations
• General questions and answers
• Items to be addressed as part of maintenance
• Enhancement opportunities

6:30pm: Dinner at Restaurant

Internal Notes

• At the bottom of your agenda, include internal notes that are meant to be shared with your team only.

Plan for success

It’s time to get back out there and meet your clients face-to-face. By planning your customer visit ahead of time, you’re sure to achieve your goals and come out with a stronger understanding of what your clients need.

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Assisting english language learners: everything you need to know, developing fluency in novice readers: everything you need to know, silent reading and oral reading: everything you need to know, creative writing: everything you need to know, what is dropbox paper how to use it, reading disability: everything you need to know, product review of good organics’ cbd sleep gummies, product review of the bass 13 wireless headphones, milestones in the learning process: everything you need to know, how to write a visit report: 12 steps.

A visit report is a valuable document that provides insights into the workings and performance of a business, organization, or project. It aims to document the on-site experience during an observation, inspection, or assessment. To ensure your report is effective and informative, follow these 12 steps to write a visit report.

1.Understand the purpose: Before you start writing, know why you’re creating the visit report and what you hope to achieve with it. This will help you focus on relevant information and structure your report accordingly.

2.List down objectives: Clearly define the objectives of your visit. These objectives should align with the overall goals of the organization or project and guide your observations during the visit.

3.Gather background information: Research and compile relevant details about the subject of your visit report. This may include its history, operation procedures, organizational structure, and any challenges that may currently be facing.

4.Plan your visit: Schedule your on-site visit in advance, allowing enough time for travel and proper observation of all aspects of interest.

5.Take detailed notes: During your visit, make sure to take comprehensive notes on various aspects – interviews, observations, and assessments – to serve as reference points when drafting your report.

6.Capture visual elements: Use photographs or videos to capture important visual information that can support and validate written descriptions in your report.

7.Follow a structured format: Organize your report into sections with clear headings such as Introduction, Background Information, Objectives, Observations, Findings & Analysis, Recommendations (if applicable), and Conclusion.

8.Write an executive summary: Provide a brief overview of your visit and critical findings in a succinct executive summary at the beginning of the report.

9.Describe observations: Detail what you observed during your on-site visit using concise language that reflects the importance of each observation related to the stated objectives.

10.Analyze and interpret findings: Analyze the gathered data and draw conclusions, identifying trends, strengths, areas of concern, or opportunities for improvement. Ensure that your analysis is reasonable and supported by evidence from your observations and research.

11.Provide recommendations: If your visit report aims to improve processes or rectify issues, offer sound recommendations based on your analysis. Provide details about how these recommendations can be implemented and their expected benefits.

12.Proofread and revise: After completing the report, take some time to review your work thoroughly, checking for grammar, punctuation, and spelling errors. Ensure that every piece of information is accurate, relevant and clearly articulated.

Following these 12 steps will help you create a comprehensive and effective visit report that offers valuable insights into the organization or project you visited. By doing so, you enable stakeholders to make informed decisions in best addressing observed challenges or improving performance.

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How to Conduct the Perfect Customer Visit

By Natsha Ness

Customers are the lifeblood of any organization. Whether you have the ability to meet with them face-to-face, or are required to so over Zoom due to our ever-changing reality, customer visits require intentionality. They also provide a golden opportunity to make your customers the North Star they should be – and improve literally everything about your organization as a result. Why a Customer Visit is Worth Its Weight … in Actual Gold

How do we know a customer visit is critical to success? In 2019, we conducted research into sales and marketing alignment, in partnership with DRIFT . In it, we found a significant correlation between the most aligned sales and marketing teams (which were also the most revenue-generating teams) and their focus, not only around customers-centric metrics, but also regular visits with customers.

Planning Customer Visits is Key

Sometimes customer visits are inexpensive (like when they happen on Zoom ). Still, just because you’re  remote doesn’t mean the interaction has to feel inexpensive. In fact, you can still invest in the same sorts of things you did on-site. Think about buying lunch with an UberEats code. Or sending your customers a box with a bunch of goodies for the meeting. In other words, think about how you can make the “visit” an experience.

If someone falls into your target account list, and is likely to have a strong lifetime value in your business, they’re worth visiting. But you have to first make sure there’s mutual agreement around the desired outcome of such a meeting. In other words, why are you getting together?

There could be plenty of possibilities, but three main reasons almost always necessitate a customer visit:

• You’re close to creating a proposal. If you’re about to put together a proposal, a customer visit will help you achieve the tight alignment you need to make sure what you’re offering is a good fit with what the customer needs. This will likely come after multiple discovery calls and deep dives. You’ve figured out which challenge you want to solve, and have had conversations with various people that lead you to believe it’s time to create an official proposal.
• You recently created a proposal. (My recommendation is to make the customer visit happen before the creation of the proposal, but it’s better to go after than not at all).
• Upsell. An often underutilized function of customer visits are to the folks who already invested with you, but of course, this can be leveraged to further the relationship and ensure it stays. It can also be used to uncover additional insights into other products or services that may fit additional, previously undiscovered, challenges. You can also work to prevent customer churn by conducting a customer visit.

Who should be involved in a client visit?

After the “why” comes the “who.” Who needs to attend your customer visit to achieve your desired outcome? There could be a wide variety of internal stakeholders that you want to include. You might have people from business development, marketing, analytics, general managers or directors and/or someone from the C-Suite. There should only be people there who have direct input into and/or influence over the subject matter at hand; no one extra. Once you figure out who should be there, think about each of their differing priorities. If you’re unsure of someone’s priorities, ask them in advance. This will help you show up prepared.

Then consider who should be there from your side. Again, don’t bring anyone who doesn’t have a clear role. There’s no dedicated team that should go to customer visits; it varies based on the goal and the customer. You should know what the customer cares about before you head there. This helps you decide whether you need your CEO present or whether the principal on the account is sufficient.

Before the Visit 

One of the best tips I can give you is to get all the skeletons out of the closet before you get in front of someone. For example, if your customer’s marketing leader beams about his 600 pieces of content, but the business development group complains they are out of date and impossible to find, do you want the first time the marketing leader hears that to be real-time, while you’re onsite? Trust me; you don’t. The whole meeting could go downhill fast. You can work through potential issues by asking if there will be multiple budget stakeholders in the room. If so, as it relates to this project, find out whether they will be contributing some of their budget to the meeting’s desired outcome. If so, what does that look like? These questions can help you spot any areas of potential friction before you’re ever in the room.

Preparation is Prince

The content of your meeting is king, but preparing properly to share that content is certainly a strong runner up. Make sure each attendee has a very specific role, and then prepare the right presentation. Consider the following question to guide your preparation:

• Are you sharing a slideshow? Audio? Video?
• What assets will you use before the meeting, during the meeting and after the meeting?
• How will you leverage small, breakout rooms to facilitate conversations vs. all-together, large group dynamics?
• Do you need slides, overheads, pens, markers, etc.? If so, it’s a good idea to send these ahead!
• Do you need a backup plan? For instance, what if your computers don’t work; do you have a hard copy of your presentation?

Then, it’s time to rehearse. Spend time with your team actually going through the presentation before heading to the customer. Talk about who will cover which slides, and how the flow will go. Make sure you’re bringing value to the customer and the tone of the meeting will be what they’re expecting. Finally, send over a message summarizing the purpose of getting together. I like to call this the DOGMA – Details Outlining Goals & Meeting Agenda. I tell them this is what we agreed to, and offer them a chance to come back and add to it or edit what I’ve sent.

During the Client Visit

Here are a few tips for the meeting itself:

• Watch for signs of misalignment. This often looks like one person repeatedly whispering to another, or in Zoom world, obviously Slacking. If someone is smiling during your presentation and you’re being serious, they’re probably talking about something else with someone on their computer. Even if you notice this, don’t mention it in front of the whole group. Instead, note it for later.
• What you can explore directly and immediately are the subtle expressions that indicate someone doesn’t buy into what’s being presented. If these things happen, try to draw it out so it can be addressed in the room. Don’t be afraid to just say, “Sally, it looks like you might have something to share.” If there are corporate politics involved and you can’t draw out the issue, try to have a conversation privately in person or via  a private Zoom chat. But stay in tune with all parties as much as you can by reading body language, tone of voice and so on.

Note: This insinuates that when on Zoom everyone has their camera on. Everyone should have their camera on.

• Record the meeting. Some people get weird about recordings, but having your meeting recorded can go a long way in helping you clarify issues later or capture something that even the best notetaker might miss. If you think someone might not like the idea, have a colleague dial into the meeting and record the call. You can say something like, “Peter couldn’t be here in person, but he wanted to call in.” It’s an easy, subtle way to get a recording to happen without making anyone feel uncomfortable. Enlist a dedicated note taker, but ask all attendees to take notes.
• Leverage a “Parking Lot.” If someone brings up an idea or thought that isn’t perfectly relevant to where you are in the agenda, jot it down in a “Parking Lot” that you can revisit at the end of the meeting – or afterward.
• Don’t leave the room without recapping what went on, with details and next steps. “This was our desired outcome and here are the five things we discussed. Numbers one through four have been hashed out, but we need to spend more time on number five so let’s set up a call ASAP to flesh that out more.” Make sure to spell out who owns what, and the agreed upon timeline so you set the expectation for accountability.

After the Visit

You had your meeting.  Now what? This is where you make or break the trust and credibility you worked so hard to create. I suggest sending a quick email to all involved parties, again reiterating what was discussed and the next steps. But take it a step further and get a handwritten thank-you note in the mail that same day. The content should be different – make it personal and send it out fast, and you’ll blow your customer’s socks off. Really.

After you’ve sent the customer a summary, create a customer visit report for your internal teams. A customer visit report should include:

• Action items
• Positive highlights
• Risks and opportunities
• Any other key observations and notes

Customer visit reports can also be given to clients, or sent in lieu of the email suggested above. After you’ve written up the most important information, it’s time to start taking action.

Take the lead by holding up your end of the bargain. Take care of any items for which you’re responsible, and set up any follow-up meetings that were discussed immediately. The power of a customer visit can quickly be deflated by distraction – and a lack of action – when it’s over.

How We Can Help Your Client Visit Planning

So, which customers or prospects deserve your time and attention onsite? Make a list, and get to scheduling. It’s the step you’ve been missing toward better alignment and better results too. Need support with any of these tactics? Shift Paradigm is a full-service partner for any organization that wants to stay agile in the current digital landscape. Our customer engagement services provide the complete package to keep your customers invested in your products and organization. Interested? Contact Shift Paradigm today!

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Report Templates

21+ visit report templates.

For every business’s marketing initiative, a customer visit is one of the most vital activities a company’s product manager should do. This is to ensure that you get direct feedback from your customers  regarding how your product has impacted your costumes, in both positive and negative aspects. You get a list of action items that you need to do to improve your product based on customer suggestions.

Customer Visit Report Template Word

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Creating a Visit Report:

1. Describe the Site

2. operations at the site, 3. reflect your visit, 4. format your report, free daily field visit report in pdf format.

Free Company Engineers IT Site Observation Report Template

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Free Data Quality Site in Doc Format

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How to Write a Visit Report?

• Taking down simple notes during your visit can help you later on, while you make the report. Request reports and other documentation you’ll need to back up the input you are compiling and ensure that you have authorization from your source.
• Begin analyzing raw data for your visit report as soon as possible. You can follow your organization’s format or download and edit any of the above-mentioned printable templates easily.
• Start your visit report with an area emphasizing typical data such as the name of the site, address, contact person, arrival, and purpose and objectives of the visit.
• Write an introduction telling the organization you visited. Mention who are those you interacted with while on site. Exclude sensitive information from your quarterly report .
• Don’t forget to proofread your first draft. Add titles, subheadings, bullet points, and other organizing details.
• Arrange the attachments following your visit report in an organized manner.

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Free NGO Site Visit Summary Report in PDF Format

How to Write a Report?

• Make your research – Ensure you have the right number of sources for your services report.
• Always make sure that your sources are reliable – Make sure to double-check any facts you find. It is recommended to stay with the details gathered by known experts.
• Write a report states – This serves as the main concept of the report layout . This summarizes what you want to prove in your report for your reader.
• Write a precise and engaging introduction – Your goal is to entice readers to read your report. You should provide some background details on your topic.
• Write your content – The body paragraphs are where you describe the evidence that supports your report. Each paragraph contains a topic sentence and supports the proof sentence.
• Create your conclusion – This part should summarize your report and provide your final input.

1. What is a Visit Report?

2. what information does a visit report contain, 3. what is the importance of a visit report, 4. what are the benefits of using a report, 5. what are some examples of visit reports.

• Professional visit report
• Monitoring visit report
• Business visit report
• Site visit report
• Industrial visit report
• Field trip visit report, etc.

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PwC’s 2021 Digital Banking Consumer Survey

Now that banking customers are digital, where's your national deposit strategy?

Direct banks’ share of primary banking relationships is up 80% since 2019

of consumers would prefer to open a new account digitally but are unable to do so today

of consumers born since 1996 (Gen Z) say their primary bank is where they hold their main check

Over the past year and a half, many bank customers got a lot more comfortable with digital interactions, and spent less time in branches. What if they never come back?

We’ve been looking into the minds of US financial services consumers since 2012, surveying groups about their banking, borrowing, payment, insurance and investing habits and preferences. We conduct this research to help us understand what retail buyers want, need and do when choosing and interacting with financial institutions. This year, PwC’s 2021 Digital Banking Consumer Survey canvassed 6,000 retail consumers. We found important changes in both how and where these customers do their banking. These shifts hold important implications for financial institutions of all sizes.

Crucially, we believe that few banks can continue to excel on the basis of their pre-COVID geographic footprint alone, and that virtually every bank should now be thinking about implementing a truly national deposits strategy. Fortunately, the market shake-up is also introducing a lot of new opportunities for banks far beyond the large market leaders. If you understand the needs of your target customers and build your value proposition accordingly, they can come.

US consumers are changing how and where they bank

• Digital banking
• Digital account opening
• Direct banks

More consumers banked digitally: 61% interact weekly on digital channels

The pandemic has altered the way in which US consumers tend to interact with their financial institutions, with an overall shift toward digital. While this is the continuation of a trend we’ve been following for years, this shift was dramatic.

There’s now a large and growing customer segment that has no interest in branches at all. These digital natives —consumers who are digitally engaged, with a preference for avoiding branches altogether—now represent 32% of those we surveyed, up sharply from 26% in early 2020. Meanwhile, there was a sizable and offsetting decline in digital adopters: consumers who are primarily digitally engaged but like having the option of using a local branch. This year, many of these consumers dropped the need for the branch security blanket or, to a lesser extent, reverted to using a nearby branch for most of their banking activities.

We’ve identified two types of consumers who like going to branches: those who are “phygital”—active users of both digital and branches—and those who are branch-dependent. As a result of this growing digital comfort and availability, 25% of US consumers now identify as phygital, up from 17% a year ago. This shift neatly mirrors the reduction in branch-dependent users: 35% of the total—compared to 42% pre-pandemic—as more consumers have grown comfortable using web and mobile apps.

The digital gap in account opening: 20-25% forced to use branch but prefer digital

While banks invested heavily in digital over the last year, we still see a gap in meeting customer preference for digital account opening: 20-25% of consumers would prefer to open a new account digitally but are unable to do so today. For example, 21% of those opening a new deposit account (e.g., a savings account or CD) would prefer to do this digitally, but are unable to do so at their current bank.

Branches still have their place for many users: 33% prefer the branch for certain activities. Although they were forced to use digital channels during COVID, two in three customers still find branches to be a meaningful channel to interact with their financial institutions, especially for activities like account management or financial research. And while digital channel use accelerated, there’s still a meaningful customer segment (35%) reporting that they would not use a bank that doesn’t have a nearby branch.

US consumers are also changing where they bank

The pandemic has accelerated the most recent trend of primary bank relationships shifting away from regional and consumer banks to direct banks, which exist entirely online. This suggests even more challenges for traditional financial institutions, showing that consumers are increasingly open to rethinking everything about how they manage their financial lives.

Direct (or digital) banks now make up 20% of all primary bank relationships in the US, up from 10% in 2019. Large traditional banks have continued to hold steady at around 42% of consumer relationships. Those in the middle—regional banks, community banks and credit unions—continue to be squeezed. Customers who prefer their community banks value low fees and customer service, while customers who choose digital banks do so for a diverse product set and as a result of friend/family referrals.

We’re also seeing a generational shift in the definition of a primary bank, with checking accounts becoming less dominant and advice and social support growing in importance:

• While 60% of baby boomers (consumers over 55) assume that their primary bank is where they hold their primary checking account, only 34% of Gen Z consumers (ages 18-24) say the same.
• In contrast, 26% of Gen Zers say their primary bank is the company that they trust to give the best advice, compared to just 7% of baby boomers.
• There’s also a small—but growing—share of consumers who say their primary bank is the one that acts in the best interest for the environment and society, including 14% of Gen Zers and 12% of millennials (ages 25-39). But only 2% of baby boomers feel the same.

Share of account holders who cite a non-bank as their primary financial institution has doubled in the past year

Nontraditional providers of banking services like retailers, social media providers and automakers have been rapidly gaining traction, especially among younger consumers. This may be happening faster than many bankers think: 57% of millennials and 64% of Gen Z consumers now say they have a financial account with a nontraditional institution. In fact, 17% of those with accounts with nontraditional financial institutions now identify this as their primary financial institution, double what we saw just a year ago.

To be sure, traditional financial institutions still hold great weight, but the nontraditional players—sometimes known as neobanks, personal finance companies, fintechs, direct banks and peer-to-peer lenders—seem to have opened the door to others. One in four consumers say they’d use a retail company for banking activities, and they’re increasingly likely to buy bank products from a social media provider or automaker.

Direct banks are no longer a niche play; to a growing number of consumers, they are more relevant than regional or community banks.­ Peter Pollini Banking and Capital Markets Consulting Leader, PwC US

Every bank should be building a specialized national offering

For decades, most banks used geographic proximity as their primary calling card and it worked fine—until it didn’t. Consumers have been finding their way toward alternative banks with little or no physical presence, and the growth in non-financial accounts seems to have come at the expense of both regional and community banks. This shift is even more pronounced by age: Younger consumers are even less impressed by physical branch presence, and they are even more open to alternative providers. We therefore expect banks’ geography to become increasingly less relevant over time.

Some financial firms will use this shift to dig even deeper into their local roots and find ways to make their branch presence meaningful to a profitable segment of customers, but it will be an uphill battle. We believe that, for most banks, the alternative—pursuing a well-defined customer niche with a relevant offering, without regard to geography—is not only a useful defensive strategy but an opportunity to grow.

Leading banks have been seizing the opportunity to package trusted advice and convenience through solutions rather than products. These solutions are:

• Tied to affinity groups, a particular industry or a particular behavior.
• Specific and specialized, and purposefully broader than just financial products and services.
• Offered nationally through marketing that targets well-defined groups of consumers.
• Often delivered through strategic partnerships.

We’re already seeing interesting examples of this at work:

• Zions Bank offers a holistic professional practice financing solution for medical professionals aspiring to start their own practice, expand a medical office, buy new equipment or refinance existing loans. Using an online application, the bank is pursuing dentistry, veterinary, optometry and medical practices.
• Valley Bank has announced a specific solution for cannabis-related business, with a cashless digital payment platform intended to address the needs of this largely unbanked sector. Valley Bank expects to serve dispensaries, cultivators, testing labs, wholesalers, CBD/hemp businesses and armored car services.
• Chime, a fintech provider that aims to support “everyday Americans who aren’t being served well by traditional banks,” offers a secured credit card for those looking to build a credit history. While the product category isn’t new, the marketing emphasis on eliminating fees and interest is.
• Nerve is a neobank targeting independent musicians, linked to a music streaming platform. The company is positioning its offering as building strong communities by providing a private networking feature to help professional musicians find each other, make payments and collaborate.

Making it happen: the capabilities you’ll want to support a national offering

In theory, migrating from a geographic-centric marketing approach to a segment-centric marketing approach shouldn’t be all that different. In practice, we recommend that financial institutions beef up their operations to strengthen some key capabilities, including:

An in-house, dedicated product development team.  It isn’t enough to say that your service offering is meaningful for elementary school teachers or locksmiths. You need to demonstrate to your target audience that you understand their needs and that your solution offers benefits that other banks don’t. You’ll want to have a team that is responsible for designing and iterating on offers, and that has the capability to capitalize on customer needs to introduce relevant products and features.

An active team focused on partnerships and experiences.  Banks have typically been fairly self-contained in their marketing. But as customers gain experience with interconnected ecosystems in other industries, they’ve shown that they’re open to new buying influences. For banks, this offers new ways to reach beyond conventional products and strengthen relationships with customers—but it may also raise new issues around business models, cybersecurity and more. You’ll want to build up a competence around navigating these issues as you define the boundaries of your target market.

A robust customer data platform.  Customer segmentation has gotten a lot more sophisticated in recent years. All customers now expect differentiated experiences, drawing on what they’ve seen from other micro-targeting campaigns. There are tools to make this emerging trend simpler for you, such as PwC’s no-code  Customer Link  product. Customer Link is a customer data solution that unifies your own data with PwC’s extensive third-party data to help you adapt to changing demands. The goal of these tools is to build an integrated view of your customers, often drawing on AI and using machine learning models to enhance precision.

A modern bank architecture.  Legacy bank systems were designed for a very different environment, one where products and channels and volumes were comparatively static. To compete effectively in the national market, you’ll almost certainly need a platform that is API-enabled, allowing you to rapidly adapt to any new opportunities, whether internal and external. Cloud-based systems now make it far easier to develop and test products, scaling up and down resources quickly as demand rises or falls.

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Why now? Because existing banking relationships have become more vulnerable

As our survey shows, customers are rapidly getting more comfortable with digital banking tools, and they aren’t looking back. Historically, banks have counted on the relative stickiness of their relationships and their geographic presence to keep them in business. But if buyers don’t care about those attributes—which is increasingly the case—then a competitor’s targeted digital offering may make it far easier for it to pick off your most valuable customers.

However, the competition is not between you and digital start-ups. You’re now competing with anyone who understands your customers’ needs with more granularity than you do and designs their offerings accordingly. This could be a bank in Maine, Florida, Arizona or Alaska, even if your primary territory is in the center of the country.

There’s still time to adapt, if you’re prepared to rethink geographic limitations and are ready to build on the capabilities and specializations you already have. In fact, we believe that this year’s Digital Banking Consumer Survey points to new organic growth opportunities. In the wake of the pandemic, customers have been settling into new buying patterns with long-term implications. How will you respond?

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FREE 15+ Sample Visit Reports in PDF | MS Word | Apple Pages

One of the most beloved stories for children is “Little Red Riding Hood.” It is the story of a girl who is going to visit her sick grandmother. She comes across a big bad wolf. There are many versions, all of which she gets eaten by the wolf.

Sample Visit Reports

43 incident report samples, 11+ free sample school report, 8+ free sample trip report.

Although the ending of the story itself is a little extreme for a story for kids, they love the story because the main character is a kid who loves her grandmother. It is relatable, minus the wolf in the forest of course. Perhaps, if Little Red was not eaten, she could have relayed her tragic visit to the police. The point of this article is the visit report. Below are Sample Reports you can check out and download for free.

Customer Visit Report

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How do you write a market visit report?

Writing a market visit report involves documenting observations, insights, and findings gathered during a visit to a specific market or location. Here’s a guide on how to structure and write a comprehensive market visit report:

• Title and Date:  Start with a clear title indicating the purpose of the market visit, along with the date of the visit.
• Introduction:  Provide a brief introduction outlining the objective of the market visit and any relevant background information. Clearly state the purpose of the report.
• Market Overview:  Describe the market’s location, size, and key characteristics. Include details such as the type of market (retail, wholesale, online), its target audience, and any notable features.
• Objectives of the Visit:  Clearly outline the specific goals and objectives of the market visit. This could include researching competitors, assessing customer behavior, or evaluating product placement.
• Pre-Visit Research:  Summarize any research conducted before the visit, such as market trends, competitor analysis, or customer demographics. This provides context for your observations.
• Observations and Findings:  Detail your observations during the visit. This may include insights on product displays, pricing strategies, customer interactions, competitor activities, and overall market trends.
• Competitor Analysis:  Evaluate the presence and strategies of competitors in the market. Note their product offerings, pricing, promotions, and any unique selling points.
• Customer Behavior:  Analyze customer behavior, preferences, and demographics. Consider aspects such as purchasing patterns, customer inquiries, and feedback.
• Challenges and Opportunities:  Identify any challenges or opportunities observed during the market visit. This could include areas for improvement, potential collaborations, or emerging market trends.
• Recommendations:  Based on your findings, provide actionable recommendations for the business or organization. These could include marketing strategies, product enhancements, or operational improvements.
• Conclusion:  Summarize the key points discussed in the report and restate the significance of the market visit. Emphasize any immediate actions that should be taken.
• Attachments:  Include any supporting documents, photographs, or additional materials that complement the report.
• Acknowledgments:  Express appreciation to individuals or organizations that facilitated the visit.
• Contact Information:  Provide your contact information in case there are questions or further clarification is needed.

Ensure that your report is well-organized, concise, and provides actionable insights for stakeholders. Use clear and professional language, and tailor the report format to suit the preferences of your audience.

Visit Report Example

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What is the report format?

A report format typically includes the following elements: title, date, introduction, methodology (if applicable), main findings or content organized into sections, conclusions, recommendations, and any necessary attachments or appendices. It follows a structured layout to present information in a clear, organized, and easily understandable manner for the intended audience.

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Using a Visit Report

In the real world, there is hardly any wolves who talk to little girls. What is common, however, is visiting. Visits can be documented as well and they are written on a visit report. This is usually common for engineers or students who study the field note .

They specifically call it a site visit. If you are an engineering student and you are having trouble on how you can formulate your report, here are some tips that might be of help:

• Get to know the site beforehand. You can maybe read articles, documents, and commentaries to know what the site is about before your visit. You can make a list of the information you got from our sources. This should get you a heads-up.
• Pay attention and take note of the things you would come across in your visit. Remember to ask questions if there are things that are not very clear to you. After all, the information you get is pertinent to your report.
• Evaluate the operations on the site. Scrutinize and reflect on your observations.
• Your report must have the following parts: the title, an executive summary , your introduction, the main body of your report, your reflections or anything that you want to recommend to the company, and your sources.

Site visits are important because students can have an overview of the environment where they can work in. They can also grasp the value of safety and its necessary policies. Moreover, they will learn processes and be introduced to equipment that is used in the operations.

Customer Visit Report Template Free Download

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Site Visit Report Sample

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Factory Visit Report Sample

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Formal Company Visit Report Template

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Visit Report Form in Word

Home Visit Report Writing Example

How does one write a Visit Report?

One can write an effective visit report in the following manner:

• Look over the requirements of your visit
• Start the report with basic and general information about the visit
• Define the purpose of your visit
• Explain what happened during your visit in a sequential order
• Summarize all the operations at the site.

What must be included in a Trip Visit Report?

A trip visit report is one of the most common parts of organizational communication. It follows the format of a basic memorandum. It must include the following details in it:

• Reason for the trip
• What was found during the course of the trip
• Any other conclusions
• Sample Budget for the trip, etc.

General FAQs

1. what is a visit report.

A visit report is a document that essay outlines information regarding an individual’s visit to a specific site to observe and collect information. Visit reports can be defined as a report that different people write, depending on the visit made by them. It gives details of the visit.

2. What is the purpose of a Visit Report?

The purpose of a visit report is to obtain additional documentation plan for the report. Before the visit, the project team must prepare a checklist for the evaluation group based on the self-evaluation reports. This process will ensure that any uncertainties in the self-evaluation reports are identified specifically.

3. What is the format of a Report?

Sample Reports are split into parts with headings and subheadings. They can be academic, business-oriented or technical, depending on the situation. Reports are mainly written to present facts about a situation, project or process and they analyze the issue that is at hand.

4. What is the aim of the visit report?

The aim of a visit report is to document and communicate observations, findings, and outcomes from a particular visit. It serves as a comprehensive record for analysis, decision-making, and future planning.

5. What should be included in a visit report?

A visit report should include details on the purpose, date, and location of the visit, observations made, key findings, encountered challenges, recommendations, and a concise summary of the overall visit.

Final Thoughts:

Visiting sites is another avenue for you to learn something. The learning experience is furthermore concretized through your report. Your teachers want you to be able to gain not only knowledge but skills as well, that is why you are encouraged to go out and learn in the process.

A philosopher named John Dewey popularized the educational concept, “learning by doing.” He believes that students can learn more when they have a share in the class activity. Visiting sites is a classic example of Dewey’s philosophy. Sure, we can learn a lot from reading and listening to lectures, but the experience is different when we can do things. And if you are looking for more sample reports , we have a lot, like sample accident reports .

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Sample medical reports, accomplishment report samples, psychological assessment report samples [ clinical, child, intake ], acknowledgement for project report samples [ mba, engineering, internship ], free 9+ sample science project reports in ms word | pdf, free 11+ student performance report samples [ medical, academic, class ], free 15+ field report samples in pdf | ms word, free 49+ sample reports in ms word | pdf, free 10+ physics lab report samples in pdf | ms word, free 13+ construction inspection report samples in pdf | ms word, free 20+ annual report samples in pdf | ms word | pages | google docs | ai, free 9+ land survey report samples [ project, market, online ], free 12+ writing assessment report samples [ risk, psychological, security ], free 37+ sample hr report templates in ms word | pdf |apple pages | google docs, free 9+ child observation report samples [ school, behavior, physical ], sample report request form, 6+sample accident report, 14 sample engineering report, 41 report format samples.

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Bank Branch Service Survey Template

Time to complete 6 minutes (approx.)

Despite the convenience of online banking, a 2017 TimeTrade survey found that 48% of respondents visited a bank branch once a month or more. The bank branch of the future is transforming to be more engaging and interactive—so too must the branch survey of the 21st century, starting with questions that will help drive new branch strategies. Branch Service surveys are your opportunity to learn more about customer satisfaction levels and improve the choices your branch makes to enhance the customer experience.

Questions must shift away from routine transactions (which are increasingly handled by technology) and more on the total experience. Are customers getting what they want when they want it? Do they feel engaged in whatever channel they interact: mobile, online, in-branch? Do they see your branch as a place for answers about how to manage money in their lives and not just a place to do routine transactions?

Brick and mortar bank branches are still a key channel for servicing customers (e.g., resolving problems and dealing with more complex transactions). You need to engage the people coming into your branch (as well as those who rarely set foot in it) to ensure they are getting an integrated experience that is making their lives easier and more productive. Sogolytics makes it easy to create the survey you need with the customizable Branch Service survey template.

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The Big Problem With Banks—and What to Do About It

Poor customer service, common with online-only banks, may now be hitting brick-and-mortar banks. CR explains how to get your bank’s attention.

Complaints about poor customer service, which usually have targeted online-only banks, are now hitting brick-and-mortar institutions.

Many big banks have been cutting costs in recent years, which often means fewer branches and fewer people to take care of consumers’ needs. 

“I am so tired of bank mergers. What a pain and inconvenience,” Mabel Seyfried from Stony Run, Pa., told Consumer Reports. “I live very rural and there are no banking branches near me. I lost count of how many branches have closed and leave me traveling farther and farther when I need cash.”

Seyfried was among some 350 people who responded to CR’s request for members to share their customer service experiences with big banks. Hundreds more responded to a forum over the summer that was organized by the Consumer Finance Protection Bureau, which has supervisory authority over large banks, thrifts, and credit unions with assets over $10 billion, totaling roughly 175 banks .

Banks where consumers can walk in and interact with human employees have long been thought to offer better customer service than online-only competitors which rely on non-human technology. But now, even banks with physical branches seem to be falling short on customer service, according to the CFPB, consumer advocates, and numerous customer complaints. 

Some consumers, like Jane Fasullo, treasurer of the Suffolk County Math Teachers’ Association, from East Setauket, N.Y., complained about how long it took to have seemingly simple information changed or added to an account, even when going to the bank branch in person. 

“When I had to have my name added to a business account, it took three days, the second of which lasted over an hour with two of us present to (supposedly) take care of everything.” she wrote.

The other comments spanned a range of issues, including overly aggressive sales pitches for banking products, difficulties navigating automated call centers, a lack of disability accommodations at bank branches, and dwindling retail locations near elderly communities.

Consumers in rural areas also expressed their frustration at the lack of branches and having to travel long distances to get access to in-person banking as well as the exceedingly long wait times they experienced once they reached a bank.

While the majority of responses expressed dissatisfaction about the quality and accessibility of customer service at banks, they aren’t part of a nationally representative survey and only represent a small proportion of actual bank customers. 

Technological Gap

At the heart of the issue is a deepening reliance on technology by brick-and-mortar banks. Their algorithms monitor customers’ digital profiles and online activity in order to better market banking products, resolve financial issues, and evaluate their clients’ needs. In-person service (known as “relationship banking”), which has traditionally been how banks do business, is now only widely available to the wealthiest clients, says CFPB director Rohit Chopra.

“At this point in the United States, ‘relationship banking’ is geared toward high-net-worth individuals who typically enjoy a wide range of banking services, often through local, regional, and national private wealth managers. For most households and small businesses, this kind of relationship banking is becoming harder to find,” he said during a speech in Montana.

“Banking is becoming increasingly digitized, which is causing a number of challenges for consumers who prefer in-person banking,” says Syed Ejaz, a Consumer Reports financial policy analyst. “The COVID-19 pandemic has only accelerated this as many banks shut down their retail locations, leaving consumers with no option but to bank online or over the phone,” he adds. 

Even when banks continue to maintain branches, consumers, advocates, and the CFPB say they’re reducing the staff that’s available for in-person service, leaving most customers to deal with apps or call centers to do the bulk of their banking, and providing worsening service. 

The problem with bad customer service from financial institutions became glaringly evident in 2021, particularly with online banks. Chime, one of the most popular online banks was pummeled in the press last year after reports surfaced that an AI algorithm it used had suddenly frozen some customers’ accounts after incorrectly detecting fraudulent activity. Those customers then were unable to reach a customer service representative to help them and lost access to their money for months, despite repeatedly trying to connect with a representative.

Following the reports, Chime said it would improve its customer service options. Chime Member Services can now be reached by phone 24 hours a day, seven days a week or by email, live chat, in-app messaging, and by direct message on social media.

Now Chopra says the CFPB wants to ensure that big banks aren’t similarly failing to provide customer service in a timely manner by “sending people through call center mazes in order to get them to give up on asking for help with their account.” 

In a letter sent to the CFPB, the American Bankers Association, Bank Policy Institute, and Consumer Bankers Association, disputed the assertions of worsening customer service. 

“The CFPB’s statements unfairly characterize the quality of customer service provided by banks and appear to reflect the CFPB’s predetermined conclusions that banks do not provide high-quality customer service. This approach is unhelpful to consumers as they navigate the financial services marketplace and is likely to confuse them,” the bank industry groups wrote.

In the letter, the bankers groups also pointed to the CFPB’s own research (PDF) into mortgage servicing wait times, which the group says affirms that banks provide “outstanding” customer service. 

“A CFPB analysis found that, during the COVID-19 pandemic, mortgage borrowers waited on average less than 3 minutes to speak with a representative from the moment the call entered the servicer’s interactive voice response system. “These short wait times are particularly impressive in light of the complicated nature of mortgage servicing calls, which often require lengthy conversations between borrower and servicer,” the groups wrote.

The bankers also pointed to their own recent polling data. An ABA October 2021 survey shows that 97 percent of customers rank their bank’s customer service as “excellent,” “very good,” or “good.” A February 2022 ABA/Morning Consult survey found that 9 in 10 Americans with a bank account (89 percent) say they are “very satisfied” or “satisfied” with their primary bank, and 88 percent agree they have multiple options when selecting products and services such as bank accounts, loans, and credit cards. 

Meanwhile, as banks and regulators hash out where the problems lie, who’s responsible, and how to resolve them, here are some tips to help you get through to someone if you’re unable to get your problem resolved by a bank representative.

Contact the CEO’s Office

Don’t expect to get the CEO’s direct phone number or email address. But you can probably find the company’s main number online. Once you get someone on the line, follow these steps, says Shep Hyken, a customer service expert who works with companies to build loyal customer relationships.

• Don’t ask to speak to the CEO directly. Instead, ask to speak to the office of the CEO. The chief executive has a team to take care of problems, so most of the time, somebody will respond.
• Introduce yourself and use this script: Hi, my name is ____. Originally I wanted to talk to (the CEO’s name), but I thought I would just speak to somebody in their office. Maybe you can help me with this problem.
• Explain your situation. But no matter how frustrated and angry you might be, it’s important to be nice. Don’t put the person on the defensive; you want them on your side. If they’re properly trained or they understand the situation, they’ll show you empathy and help you with your problem.

Use Social Media—the Right Way

Some people rant on social media even before they pick up the phone. That’s because they feel it’s the quickest way to get attention. However, Hyken recommends that you take a less confrontational approach—especially if it’s your first attempt to reach the company.

• Send a direct message to the company on Twitter instead of a public tweet. “Give the company the opportunity to fix the issue before you make a scene on social media,” Hyken says. “When a company sees you’re direct messaging them through a social channel, they know you have the ability to not direct message them, and sometimes they appreciate that you did it this way,” he adds. “It may elicit a quicker, more helpful response.”
• Sending a direct message also helps you avoid scams. Some fraudsters may respond to your public tweet by saying they’re a company representative when all they’re trying to do is steal your money.
• Don’t threaten the company in your DM. Simply say, “I thought the best way to reach you would be through social media, and I thought, even better would be to direct message you, so I can get a quicker response,” Hyken says.
• Don’t plan on getting an immediate response. “Expect a response within a day or so,” Hyken says.

Report a Problem to the Better Business Bureau

Although the BBB may not have the teeth to force a company to resolve an issue, being considered a good or bad company by the BBB carries a lot of weight in the marketplace.

If you feel that you’ve gotten bad service, make sure to report it to the BBB. And before you choose a service, it’s always a good habit to check the BBB website to see what consumers are saying about the company you’re planning to use.

Contact Regulators

The Consumer Financial Protection Bureau is in charge of enforcing banking and fintech consumer fairness practices. Consumers who feel wronged by their financial institution—whether it’s a fintech start-up or a traditional brick-and-mortar financial services company—can file a complaint using the Consumer Complaint Database or by calling 855-411-2372. 

“Companies have provided timely responses to 98 percent of the more than 2.4 million complaints sent to them for response since the CFPB began accepting complaints in 2011,” says Raul Cisneros, a public affairs specialist with the CFPB.

Before you get started, here are some of the things you’ll need to file your complaint: 

• Dates, amounts, documents, and other details about your complaint. Make sure to scan your documents beforehand so that they can be easily attached to the digital file you create.
• Include all the information you can, because you generally can’t submit a second complaint about the same problem, according to the CFPB.
• The CFPB will forward your complaint and any documents you provide to the company and work to get you a response—generally within 15 days.
• If the CFPB finds that another government agency would be better able to assist, it will forward your complaint to it and let you know.
• If the CFPB complaint doesn’t result in any response from the company, you should also contact your state’s attorney general’s office . California residents can also file complaints with the California Department of Financial Protection and Innovation .

Switch Banks

If you’re unhappy with a bank’s customer service, simply close your account and go elsewhere. “With some of these digital companies, if I can’t reach human help, when the issue is over, as soon as I find a way, I’d switch,” says Hyken.

But closing a financial account presents its own headaches.

“You’ve got to close an account and then open another account, and sometimes the path of least resistance is to just put up with it,” Hyken says. “But consumers are getting smarter today, and their expectations are higher. Companies out there that aren’t responding appropriately or aren’t responding in a timely matter, or don’t have a way to get to a human, should consider this a warning,” Hyken says.

Octavio Blanco

My mission: To write stories that broaden readers' horizons and offer new solutions they can apply to their lives. Who I write for: My family, my friends, my neighbors, myself, and—most important—you. My passions: Music, art, coffee, cheese, good TV, and riding my electric bike.

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A bank customer satisfaction survey is a questionnaire used by banks to find out how their customers are enjoying their banking services. Whether you’re a bank customer or a bank employee, use this free Bank Customer Satisfaction Survey to collect feedback from customers about the bank they’re using. Just customize the questions to match your bank’s unique services, embed the form on your website, or share it with a link, and start collecting responses instantly. It’s ideal for remote banking — helping you collect the information you need, fast.

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If you want to improve your upcoming event, you can get suggestions from participants by using this event satisfaction survey template. This sample feedback form allows gathering overall satisfaction by categorizing the event services. These categories are location, content, price, speakers, organization.If you are looking for creating your own survey from scratch, you can get started with the survey maker now for free!

Online Interview Questionnaire Form

An online interview questionnaire form is used by organizations to help them get important information from their interviewees. Whether you’re an insurance company, a hospital, or a company that hires individuals in various roles, use this form to gather more information from applicants applying to jobs. This Online Interview Questionnaire Form is also an additional way to confirm the information you have received from your applicants. Just customize the template, embed the form on your website, and watch as applicants send you the information you need.This online interview questionnaire form allows you to select the responses you need, and then convert the responses into easily downloadable or printable PDFs. If you’d like to automate the questions or the responses, you can use Jotform’s integration options with 100+ other powerful apps, including Google Drive, Dropbox, and Slack. You can also personalize your online interview questionnaire form to fit your business’s branding. Add your logo, change the background, or add more form fields to your liking. You can even send questions to your own CRM automatically if you use Jotform Report Builder! Make the most of your job applications with a free online interview questionnaire form.

Market Research Survey

A market research survey is a questionnaire used by companies to collect information about their customers and their market. Here's a quick market research form that focuses on a few demographic statistics. This survey form will ask for the respondents' age, gender, household income, and educational attainment. The survey format is multiple-choice, giving your respondents an easy way of completing it in a few minutes. Use this market research template and use the collected submission data to your advantage. If you want to create your survey from scratch, you can get started with the survey maker now!Use our free Market Research Survey template for your business — it’s easy to customize, fast to set up, and perfect for collecting info from your customers and fans. Simply add your company logo, change the text and colors, and you’re on your way! If you’d like to embed this survey on your website, you can sync it to a website builder. If you’re looking to collect more information than the Market Research Survey provides, you can use our Form Builder to add more fields. Collect all of the data you need to make decisions with a free Market Research Survey.

• Form Templates /
• Survey Templates /

Survey Templates

If you want to improve your upcoming event, you can get suggestions from participants by using this event satisfaction survey template. This sample feedback form allows gathering overall satisfaction by categorizing the event services. These categories are location, content, price, speakers, organization.

An Online Interview Questionnaire Form is a form template designed to help organizations gather important information from their interviewees.

A Market Research Survey is a form template designed to collect important information about customers and the overall market for companies.

Employee Satisfaction Survey

Get to know your employees with a free online survey. Collect responses from any device. Customize in minutes with no coding. Sync responses to 100+ popular apps.

Restaurant Evaluation Form

Customers satisfaction is important for every business and to determine that you need to survey your customers. This restaurant survey form is designed for this purpose. This restaurant evaluation form let your customers rate or evaluate the quality of your services, this includes food quality, overall service quality, cleanliness, order accuracy, speed of service and others. To deliver the highest level of service, this restaurant review form will help you easily understand your customers and their tastes based on their feedback. So if you own a restaurant and you want the quickest and hassle-free to collect feedback, this restaurant review template free is all you need!

Patient Feedback Form

A patient feedback form is a survey with questions that allows medical doctors to gather feedback from patients regarding their overall experience with the clinic.

Online Slam Book Form

Want an online slam book format for friends? Create your own with Jotform!

Student Survey

Find out what students think about topics like curriculum, materials, and facilities with Student Survey.

Exit Interview Form

HR departments can use this free Exit Interview Form to conduct exit interviews online. Customize the form and share via email to quickly collect employee feedback.

Product Survey Form

A product feedback form is a good way to gauge how well (or bad) you're doing as a company. With this product survey form sample, a variety of commonly asked questions are readily available for you to use. This product survey form will ask your respondents how long they have been using your products/services, their impression on how you compete with other competitors, their satisfaction about the products/services you offer and a couple more that's related to the overall experience they had.

Customer Feedback Survey

Great tool to capture customers concerns on products and services used

Follow Up Survey

A follow up survey is a customer feedback survey that allows customers to review a company or individual. Easy to use. No coding.

Support Satisfaction Survey

A support satisfaction survey is used by companies to collect feedback about their customer support services.

Quiz Form With A Calculated Number Of Correct Answers

Calculate a number of correct answers with a Form Calculation Widget, and show that number on the form's Thank You page.

Past Crushes Survey

An online past crushes survey is a questionnaire used by students to collect information about previous relationships.

Website Survey

A website survey is used to collect information about websites, users, or the website itself.

Demographic Survey

Here is a simple demographic survey template that you can use to determine your market or to make any other research. With this demographic form for research, you can gather gender, age, education, household income and interests of the form's respondents. Use this demographics form template to start your survey now! Or, simply make your own online surveys from scratch!

New Product Survey

A new product survey is a tool used by businesses to collect customer feedback about a new product.

COVID 19 Vaccine Survey

Get to know how people feel about the new COVID-19 vaccine with a custom online survey. Easy to personalize, embed, and share. Option for HIPAA friendly features.

Evaluation Survey Form

An evaluation survey form is a form template designed to collect information from students about their experience at the school, the quality of the education, and any suggestions for improvement.

Political Poll

Get a full scale political poll from the visitors and determine what the country thinks of the current politics.

Instructor Evaluation Form

An Instructor Evaluation Survey is a feedback form used by teachers to evaluate the performance of an instructor.

My Favorite Things Questionnaire

A My Favorite Things Questionnaire is a form template designed to ask students about their favorite movie, favorite place to go, food, person, game, biggest fear, and greatest hope.

Online Shopping Survey

An online shopping survey is a questionnaire used by online stores to collect feedback from their customers. Whether you run a book, magazine, clothing, or furniture store, use this free Online Shopping Survey!

Product Surveys

Product Customer Feedback Form 

A Product Customer Feedback Survey is a customer feedback survey that allows clients to review a company's products and services.

Cancellation Survey

A cancellation survey is a questionnaire used to determine the reasons why customers cancel their service. Fully customizable and free.

Voice Of The Customer Survey

Get important customer feedback online. Easy to customize and embed with no coding. Great for small businesses. Collect and view responses on any device.

Technology Surveys

Technology Survey For Remote Learning

Let students rate their remote learning experience with a free online Technology Survey for Remote Learning. Easy to customize and share. Fill out on any device.

Software Survey Form

A software survey is a questionnaire used by a software company to collect feedback from its users. If you work in software, use our free Software Survey Form to talk to your customers and find out more about how they use your product!

IT Satisfaction Survey

Let's measure how satisfied your customers are with the IT service you provide with the IT Satisfaction Survey. No code required!

Healthcare Surveys

Health Survey

A Health Survey is a form template designed to collect medical information from patients and log their anamnesis

Mental Health Survey

Conduct mental health assessments with this free survey template for businesses, schools, and more. Easy to customize and fill from any device. No coding.

Patient Health Questionnaire And Generalized Anxiety Disorder Questionnaire

A free Patient Health Questionnaire and Generalized Anxiety Disorder questionnaire is an excellent tool for getting everything you need in one convenient place! Accessible through any mobilde device. Fully customizable.

Education Surveys

Classroom Observation Survey

Does your school accommodate external reviews by conducting class observations? Once the reviewer is done, observation survey forms would surely help in letting them share their feedback. This classroom observation template will ask the panel the teachers/classes they observed, the grade level, how the environment was throughout the session, and the overall knowledge, skills, behavior, class management, and the overall impression of the class. Use this observation survey template to improve your teachers and students alike.

Teacher Satisfaction Survey

Make the teachers happy by attending to their needs and listening to their feedback by using this Teacher Satisfaction Survey. This form template contains all the required questions when building a survey.

Student Interest Survey

Encourage the students to enjoy the school year by making them interested in the school activities and class lessons. In order to identify their expectations, have them fill up this Student Interest Survey form.

Business Surveys

Customer Satisfaction Survey Form

Get to know your customers with a free online Client Satisfaction Survey. Easy to customize, share, and embed. Analyze results to improve your business.

Employee Motivation Survey

Conduct motivation self-assessments on any device with an online Employee Motivation Survey. Free to customize and share. Analyze results to improve your business.

Business Demographic Survey

A business demographic survey is a survey that captures information about the demographics of a business and its customers. Fully customizable and free.

About Survey Templates

Surveys are the perfect way to gauge customer, employee, or even just public opinion about your brand. Get started the easy way: select a free online survey template from Jotform. We have all the survey and reporting tools to find and collect helpful data. It's perfect when you need to understand customer demographics, or when you need to conduct a market research survey. Select from one of our pre-made sample survey forms or make your own survey from scratch in just minutes. Once you have selected a survey template, use the Jotform builder to design, format and customize your survey form. Try one of our free online survey form templates today!

You can also check out our ready-to-use questionnaire templates prepared for a variety of use cases which allows you to customize your online questionnaire with our drag-and-drop Form Builder.

Frequently Asked Questions

1) what are survey templates.

Survey templates are ready-made sample surveys with built-in questions. Instead of creating a survey from scratch, you can use a template as a starting point, then customize it with your own specific questions, branding elements, and more.

2) Where can I find survey templates?

You can find many survey templates online for free! Jotform’s survey templates are all available in our form templates library. Not only are they free, but they’re totally customizable with our no-code, drag-and-drop form builder, so you don’t have to switch between platforms to find a survey template, customize it, and share it with your audience!

3) What types of survey templates are available?

Jotform offers a wide variety of survey templates for different industries and use cases, including surveys for HR, marketing, products, customer satisfaction, and more. Plus, we have a great selection of employee and education surveys, with everything from polls and assessment forms to motivation and feedback forms.

4) Are survey templates customizable?

Absolutely! As mentioned above, Jotform’s drag-and-drop form builder is the ultimate tool to customize your survey templates in a matter of minutes. You can adjust fonts and colors, drag and drop form fields, drop in logos and images, and so much more. Plus, feel free to sync with our 100-plus integrations — like Google Drive or Dropbox — to add extra functionality to your survey or include it in your existing workflows.

5) How can I use a survey template?

To use a survey template, just select the template you want to use and edit it according to your needs. With Jotform, simply navigate to our Survey Templates page and choose the right one for you. Click Use Template , then use our drag-and-drop Form Builder to customize it and share it with others, all from one place. Responses will automatically be sent to your Jotform Inbox, and you can analyze your data in Jotform Tables and Jotform Report Builder.

6) Can I create my own survey template?

Yes, you can build your own survey from scratch. Navigate to Jotform’s Form Builder, click Create Form , then Start from Scratch . From there, you can add questions and widgets to create the perfect survey template to use as needed.

7) Are survey templates free to use?

Depending on where you source them, some survey templates are free, and some you’ll need to pay for. Jotform’s 1,000-plus survey templates will always be 100 percent free. You’ll just need to upgrade to a paid plan to increase the limit on the number of submissions you receive.

8) How many questions are typically included in a survey template?

Make sure your respondents don’t get “survey fatigue” before they even start taking your survey! The tricky part about this question is that there’s no exact answer — it depends on a number of factors, like who your audience is, what information you need, and what your purpose is. In general, a survey should never take longer than 10 minutes, which means that 5–10 questions is usually a safe range.

9) How do I choose the right survey template for my needs?

Before you choose a survey template, you need to define your research objectives. This can be done by doing a deep dive into your product, service, or team and pinpointing specific topics you want to gather more data on. Once you’ve done this, you can search for survey templates related to your research objective and find one that most closely matches your needs.

10) Can survey templates be used for both online and offline surveys?

Sometimes, you need to be offline to conduct market research or surveys in the field — that’s why finding survey tools that work offline is a game-changer. Jotform Mobile Forms allows you to create, edit, and fill out forms from any location and on any device, and even collects data offline to be populated later once you connect back to the internet. Don’t let spotty cell reception stop you from collecting the survey data you need!

11) What are the benefits of using a survey template?

Using a survey template can cut down on the time you would otherwise spend building a survey from scratch, so that you can spend more time collecting responses and analyzing data to make better business decisions. On top of that, survey templates provide great inspiration for the kinds of questions you should be asking, as well as the format of those questions (multiple choice, yes/no, fill-in-the-blank, etc.).

12) Can survey templates be used for different industries and sectors?

Survey templates can be used across every industry and sector! Whether you’re collecting employee feedback, reaching out to customers about a potential new product, or simply just polling your friends for fun, there’s a survey template for you.

13) How do I modify a survey template to suit my specific requirements?

To modify a survey template to suit your specific needs, you can customize it with your own text, images, branding, and more. Jotform makes this easy with our drag-and-drop form builder. Simply replace our questions with your own, add new fields, switch up the survey colors and fonts, include your logo, and more. Then share it through email, a link, or a QR code, or embed it on your website.

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Customer Satisfaction Survey for Banks

A customer satisfaction survey template specifically designed for banks to gather feedback and improve customer experience.

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About Customer Satisfaction Survey for Banks Template

The Customer Satisfaction Survey for Banks template is specifically designed for banks to gather valuable feedback from their customers and improve overall customer experience. By understanding customer satisfaction levels and identifying areas for improvement, banks can enhance their services and build stronger relationships with their customers.

This survey template consists of carefully selected questions that cover various aspects of the banking services. It starts with a general satisfaction rating to gauge the overall experience. The next question measures the likelihood of recommending the bank to others, which is an essential indicator of customer loyalty and satisfaction.

Customers are also given the opportunity to provide additional comments and suggestions to further express their opinions. This open-ended question allows customers to share specific feedback that may not have been covered by other questions.

The survey also includes a multi-select question to identify which services the customers have used in the past six months. This information helps banks understand the popularity and usage of different services.

To assess specific aspects of the banking services, a likert scale question is included. Customers can rate their satisfaction levels with customer service, online banking experience, branch accessibility, product offerings, and interest rates. This provides banks with valuable insights into areas that require improvement or areas where they excel.

Lastly, the survey includes a stack rank question to understand the factors that customers consider most important when choosing a bank. By prioritizing factors such as interest rates, customer service, convenience, online banking experience, and product offerings, banks can align their strategies to meet customer expectations.

Customer Satisfaction Survey for Banks Questions

• Please rate your overall satisfaction with our bank’s services.
• On a scale of 0 to 10, how likely are you to recommend our bank to others?
• Please share any additional comments or suggestions to help us improve.
• Which of the following services have you used in the past 6 months? (Select all that apply)
• Customer Service
• Online Banking Experience
• Branch Accessibility
• Product Offerings
• Interest Rates
• Convenience (Branch/ATM Locations)

Customize this template to suit your bank’s specific requirements and branding. By regularly conducting customer satisfaction surveys, you can continually improve your services and meet the evolving needs of your customers.

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$24,315 Drained From Customers’ Bank Accounts After Employee at Major US Lender Goes Rogue: FDIC Report

The Federal Deposit Insurance Corporation (FDIC) says a former US bank employee has admitted to stealing thousands of dollars from customers’ accounts.

The FDIC accuses Derrick Alan Smith of directly or indirectly violating laws and recklessly engaging in unsound and unsafe practices while working as a branch banker at the North Carolina-based lender Truist Bank.

In a new enforcement notice, the regulator says that between April 23rd, 2019 and October 7th, 2019, Smith repeatedly filled out blank checks to execute numerous cash withdrawals under the names of Truist Bank customers without their knowledge or authorization.

According to the FDIC, Smith managed to embezzle a total of $24,315.15 from four different customer accounts in 16 separate transactions.

The regulator says Smith’s misconduct led to financial losses for Truist Bank as the lender had to reimburse the customers involved.

“Respondent’s violations and practices involved personal dishonesty and demonstrated Respondent’s willful or continuing disregard for the safety or soundness of the Bank.”

Smith’s employment at Truist ended on October 8th, 2019. About a month later, he was arrested and charged with four counts of felony forgery under the Code of Laws of South Carolina. He pleaded guilty to three counts of misdemeanor forgery.

In addition to his arrest, the FDIC is ordering Smith to pay a $35,000 civil money penalty and a $24,315 restitution.

Truist Bank is the  eighth-largest chartered commercial bank in the US according to the Federal Reserve, with $526.714 billion in consolidated assets.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Springtime for Canada’s fintech industry?

Canada’s financial-services industry seems to be a textbook case of an industry primed for disruption by fintech.

About the authors

This report is a collaborative effort by Federico Berruti , Miklós Dietz , Uzayr Jeenah , Opeyemi Otubela, Emily Seng Yue, and Ammar Zahid, representing views from McKinsey’s Financial Services Practice.

First, its banking industry is large compared with other G-7 countries. Banking revenues of $180 billion accounted for 7.9 percent of GDP in 2023, compared with 5.8 percent in the United States and an average of 5.6 percent among other developed economies. Canadian banks are also more profitable than those in other developed economies (Exhibit 1). Likewise, Canada’s insurance revenue pool is large. With estimated revenues of $136 billion in 2022, it’s one of the world’s ten largest insurance markets. 1 McKinsey Global Insurance Pools; excludes reinsurance and international revenues. These attributes make Canada a tempting target for fintech attackers.

Second, the Canadian financial-services industry is highly concentrated—often a sign that innovators are itching to shake things up. As of 2022, the top five banks generated more than three-quarters of banking revenue, while the top six insurance firms generated almost 50 percent of revenues in the sector. 2 Based on McKinsey analysis of data from the following sources: annual reports from the Royal Bank of Canada (RBC), Canadian Imperial Bank of Commerce (CICB), Toronto-Dominion Bank (TD), Scotiabank, and BMO Bank, accessed on the website for the Office of the Superintendent of Financial Institutions; MSA Research; S&P Capital IQ; and McKinsey Global Insurance Pools.

Third, Canada ranks among the world’s top five countries for smartphone penetration, internet usage, and higher education levels—measures that suggest a readiness to embrace new technology. 3 Asli Demirgüç-Kunt, Leora Klapper, Dorothe Singer, and Saniya Ansar, The Global Findex Database 2021: Financial inclusion, digital payments, and resilience in the age of COVID-19 , World Bank Group, 2022; McKinsey Panorama Global Banking Pools.

Yet Canada has not followed the textbook as fintech has grown in other developed countries. 4 “ Fintechs: A new paradigm of growth ,” McKinsey, October 24, 2023. Australia, for example—a country with a similar concentration of large financial-service providers—had grown to become the world’s sixth largest fintech market by 2022. 5 “The Australian fintech export frenzy,” Australia Department of Foreign Affairs and Trade, February 2022. However, Canada has not been able to match Australia’s growth. Canada ranks among the bottom five developed countries for adoption of digital banking, digital B2B services, and fintech solutions. 6 The Global Findex Database 2021, 2022 ; McKinsey Panorama Global Banking Pools. Only 13 percent of Canadian banking consumers use fintechs, for example, compared with 32 percent of those in the United Kingdom and 42 percent in the United States. 7 McKinsey Retail Banking Consumer Survey, 2023, n = 2,012. That leaves huge untapped potential. Canadian banking revenues from retail and small and medium-size enterprises (SMEs), for example, reached $135 billion in 2022, of which just 3 percent went to fintech. That’s about $5 billion short of what might be possible were penetration levels similar to those in the United States, where fintech penetration is 8 percent (Exhibit 2).

That’s not to detract from the progress made by some fintech players in certain segments of the Canadian market, particularly wealth management and payments. Wealthsimple, an online investment management service, had assets under management worth $30 billion by 2024, for example, while payments processor Nuvei, which completed an IPO in 2020, processed payments worth $141 billion and generated revenues of $870 million in the first nine months of 2023. 8 Rob Carrick, “Wealthsimple is starting to look like Canada’s next big bank,” Globe and Mail , January 11, 2024; “Nuvei announces third quarter 2023 results,” Nuvei, November 7, 2023.

Some fintech infrastructure companies are also emerging—and their success will be key to the growth of fintech as they build the infrastructure and systems upon which digital financial-service offerings depend. Neo Financial is one such company, offering consumer-facing products as well as infrastructure services for payments, cards, and digital accounts. In 2023, Tim Hortons, a large Canadian restaurant chain, selected Neo to power its new credit card offering. 9 “Tim Hortons selects Neo Financial to power its launch into financial services with the Tims Credit Card,” Business Wire, July 26, 2023.

The question therefore becomes what it will take to build on this momentum and for Canada’s fintech industry to fully bloom. To find out, we interviewed more than 40 leaders in the Canadian financial services industry, including investors and academics as well as leaders working for fintechs, incumbents, and lobby groups. The research points to five areas where developments will be critical to the long-term growth of the industry: consumer behavior, partnerships, funding, the regulatory environment, and talent.

Consumer behavior

It’s hard to persuade Canadian consumers to switch financial-service providers. Take retail banking, which, according to McKinsey analysis, accounts for more than 60 percent of banking revenues. 10 McKinsey Panorama Global Banking Pools. Our 2023 McKinsey Retail Banking Consumer Survey showed that 61 percent of respondents had used the same bank for ten years or more and that the number who might be inclined to switch banks had fallen, from 10 percent in 2021 to 9 percent in 2023. It’s hardly surprising, then, that 40 percent of the fintech leaders we interviewed highlighted difficulties attracting Canadian consumers to their platforms.

Consumers’ reluctance to switch might be explained by the fact that they are comparatively satisfied with their banks. Canadian banks’ customer satisfaction score—a measure of how likely consumers are to recommend their bank to others—has fallen of late, but it is still considerably higher than that of banks in Europe, where millions of people have switched to digital providers (Exhibit 3). Canadians are also reluctant to switch providers because of the difficult and time-consuming process involved. For example, consumers have to create a list of all their accounts and automatic payments and update this information with the new bank.

The road ahead

The key to attracting consumers can be to focus on the right ones, seeking to gain share in niche segments that are not well served by traditional financial institutions. One UK fintech was able to capture market share from large incumbents by targeting tech-savvy millennials and Gen Zers who were won over by the promise of a flawless digital experience that gave them 24/7 access to their finances globally—something traditional banks were unable to offer at the time.

In Canada, one niche segment might lie with people who have recently settled in the country. Canada has one of the world’s highest immigration rates and welcomed about 500,000 people in 2022. Of these, 60 percent were between 20 and 39 years old—the age group more likely to use fintech products. 11 “Estimates of the components of international migration, by age and gender, annual,” Statistics Canada, February 21, 2024. Many immigrants also come from Europe and countries such as China and India, where digital banking is more common, so they may be more open to using innovative banking offerings than many Canadians. As one fintech leader pointed out, “In other countries with more digitization, people no longer use cheques. Here, we still have huge volumes of them.” (In 2023, 28 percent of total Canadian payments values were classified as paper-initiated payment items, such as cheques. 12 “Automated Clearing Settlement System statistics,” Payments Canada, January 3, 2024. )

Fintechs might also find success in offering financial services that often are not available to new immigrants, such as credit facilities, or setting up an onboarding process that makes it easier for those who are new to the country to open an account. Lack of an established credit record or address can complicate newcomers’ access to financial services.

With the right products, opportunities might also lie with incumbents’ traditional consumers. Canada has a high rate of financial inclusion—about 98 percent as of 2021 13 “Redefining financial inclusion for a digital age: Implications for a central bank digital currency,” Bank of Canada, October 4, 2023. —leaving next to no room for fintechs to build a consumer base by targeting entirely new retail-banking consumers. But they can offer bank consumers new services. For example, our analysis shows that more than 20 percent of retail banking revenues derive from people with middle to low incomes in the 18–44 age bracket, the majority of whom subscribe to very few banking services. 14 McKinsey Global Banking Pools Cube. “The issue is not that people in Canada are unbanked; it’s that they are underbanked,” said one fintech leader. Many of these bank customers might be attracted by a fintech solution that helps them track and manage their spending, for example.

Partnerships with incumbents

Most incumbents once viewed fintechs as a threat. Today, however, partnerships between the two parties are more often seen as mutually beneficial and have thus become common in many developed markets. By 2021, incumbents in the United States each had an average 2.5 fintech partnerships, compared with 1.3 in 2019. 15 “The state of the union in bank-fintech partnerships,” Synctera, January 10, 2022.

In Canada, partnerships remain scarce. Some credit unions and small and medium-size banks are working with fintechs—ATB Financial 16 Knowlton Thomas, “Flinks and Oliu partner to enhance fintech experience in Canada,” Fintech.ca, January 16, 2024. and Equitable Bank are two examples. 17 “EQ Bank partners with Flinks to deliver on open banking,” Equitable Bank, July 14, 2022. But 68 percent of the fintech leaders, investors, and academics we interviewed identified challenges associated with bank–fintech partnerships. These included long sales cycles of up to 24 months, costly and arduous risk management and compliance requirements, and stringent exclusivity clauses. “In the United States, banks are way more willing to partner with fintechs and use them as a consumer acquisition channel,” remarked one fintech leader.

Incumbents also say that regulatory compliance requirements hamper the formation of partnerships. And some feel that partnerships formed to date have been disappointing, often proving to be no more than standard vendor relationships. They also say there is a shortage of world-class Canadian fintechs with which to partner.

The key to more partnerships will be greater awareness of the benefits. Incumbents should also make sure they do not overlook local partnership opportunities because of a perceived need for global partners. There are two main types of partnerships. The first is a fintech enabler model, whereby incumbents harness a fintech’s innovation and agility to optimize their own internal processes, adopting proven technologies and business models (and sometimes consumer bases). Cost savings are also possible. The second is an infrastructure provider model, whereby fintechs leverage parts of the incumbent’s technological infrastructure, including licenses and payments infrastructure, thereby reducing the cost and time associated with going to market with their own products.

In both models, the partners share the risks and rewards and ultimately help grow the financial services sector by giving consumers more providers from which to choose and products that are more sophisticated. Tink, a European cloud-based platform, is an example of the enabler model. Through its partnerships with more than 6,000 financial institutions, Tink has built an open-banking platform that connects financial-services providers to consumers’ bank data, helping providers make fast onboarding assessments and attract and engage consumers. 18 “About us,” Tink, accessed March 20, 2024.

Growth of the fintech sector inevitably depends upon the availability of capital to support growing companies.

Growth of the fintech sector inevitably depends upon the availability of capital to support growing companies. And while there is no shortage of Canadian venture capital (VC), the US fintech market remains a primary target for investors due to its larger size and maturity. Fifty percent of the investors we interviewed said they also invested in US fintechs. VC funding tends to work well in markets with technology clusters such as Silicon Valley—something that is lacking in the Canadian fintech ecosystem.

The funding figures reflect the draw of bigger, more mature markets. Between 2017 and 2023, VC funding for Canadian fintechs grew at 1.8 percent per year, on average, compared with 18 percent in the United States. 19 Based on McKinsey analysis of PitchBook deal status data, November 28, 2023. Today, Canadian funding for fintech as a percentage of banking revenues is similar to that in Australia, compared with larger mature markets such as the United Kingdom and the United States, and 60 percent of the fintech leaders we interviewed said they had encountered challenges securing local funding (Exhibit 4).

More investors may come forward as economic conditions ease and interest rates fall. When they do, our analysis suggests it will be important to spread funding more evenly across maturities to boost the sector’s growth. Between 2018 and 2023, funding for late-stage firms grew at 13 percent per year, while midstage funding fell by about 23 percent and early-stage seed funding stagnated. 20 Based on McKinsey analysis of PitchBook deal status data, November 28, 2023. Without more early- and midstage funding, it will be hard to support more growth in the sector.

Earlier-stage funding is likely to grow alongside investor confidence as more fintechs grow and complete successful exits, joining the ranks of Verafin, a Canada-based regulatory technology company that was sold for $2.75 billion in 2021. 21 “Nasdaq to acquire Verafin, creating a global leader in the fight against financial crime,” Verafin, November 19, 2020. In addition, the founders of successful buyouts may well become angel investors in new start-ups. Executives at PayPal, bought by eBay in 2002, went on to fund other start-ups in Silicon Valley, including Affirm, Facebook, Stripe, Square, and YouTube. 22 Andrew Granato and Scy Yoon, “A look at the PayPal Mafia’s continued impact on Silicon Valley,” VentureBeat, January 13, 2019; Tami Brehse and Kylie Kirschner, “Members of the PayPal Mafia include tech titans like Elon Musk, Peter Thiel, and Reid Hoffman. Here’s where they are now,” Business Insider, November 12, 2023. And executives at Canadian software company Research In Motion, the creators of the BlackBerry cell phone, have invested in other businesses in Canada’s high-tech cluster in the Waterloo region. 23 Sam Byford, “BlackBerry founder hopes to achieve ‘Star Trek’ future with $100 million quantum tech fund,” The Verge, March 19, 2013.

Funding for B2B fintech solutions will likely spur growth of the sector. Infrastructure solutions, for example, will not only support the entire fintech ecosystem but could also give fintechs a competitive edge over incumbents whose legacy infrastructure can be slow, inflexible, and costly. “Traditional infrastructure in financial services today is relatively outdated and archaic,” said one interviewee.

Funding for fintech solutions for SMEs could also propel growth; SMEs have long been underserved by traditional financial-services providers in markets around the world, despite the fact they represent about 90 percent of businesses, according to McKinsey research. 24 “ Fintechs ,” October 24, 2023. The Canadian market is no different.

Much depends on fintechs themselves if more funding is to materialize, however. Investors are more likely to back companies that create disruptive products and valuable intellectual property that prove competitive on a world stage. Yet more than 30 percent of the investors interviewed said lack of innovation was one reason for not funding more Canadian fintechs. They felt there were too many “me too” products and solutions.

The regulatory environment

Regulatory developments will play a key role in the growth of fintech in Canada. In some markets where fintech has become established, regulators have encouraged new market entrants by, for example, creating tiered licensing regimes that align with the risk of their offerings and introducing what are regarded as innovation-friendly regulations that facilitate real-time payments systems and open banking. Open banking permits third parties to access consumers’ financial data with their consent, making it possible to identify suitable product offerings, for example, or to help consumers easily switch their checking account to a different bank.

Regulators of the Canadian financial system, which has long been a global model of stability and security, have been more cautious. Canada is, for example, one of the few OECD markets without a defined open banking regulatory framework. 25 Shifting from open banking to open finance: Results from the 2022 OECD survey on data sharing frameworks , OECD, 2023. Many interviewees said they are challenged with navigating the country’s regulatory stance as they identify opportunities for innovation and growth.

The regulatory environment may be changing. In December 2023, the federal government began a consultation process to consider measures it could potentially take to strengthen competition in the financial sector, including measures that might support fintechs. 26 “Consultation on strengthening competition in the financial sector,” Government of Canada, updated March 4, 2024. It has also announced its intention to introduce the budget for open banking framework legislation in 2024, 27 “2023 fall economic statements: Policy statement on consumer-driven banking,” Government of Canada, November 22, 2023. and it is working to establish a real-time payments system. These changes could help unlock faster growth in the sector, increase competition, and reduce costs for consumers.

Innovation in a market is tied to the availability of talent, which in turn is bolstered by the quality of education. On this basis, Canada is set to support a thriving fintech ecosystem. It boasts an excellent educational system that produces a high percentage of STEM graduates relative to the population. In 2020, 24 percent of Canadians were STEM graduates, compared with 18 percent in the United States. 28 “2020/2021 postsecondary graduates, by International Standard Classification of Education, institution type, Classification of Instructional Programs, STEM and BHASE groupings, status of student in Canada, age group and gender,” Statistics Canada, November 22, 2023; McKinsey analysis of 2020–21 US data from National Center for Education Statistics (NCES) tables 321.10 (Associate’s), 322.10 (Bachelor’s), 323.10 (Master’s), and 324.10 (Doctorates), using the International Standard Classification of Education’s (ISCED) definition of STEM. The nation’s digital skills are growing quickly, too. In 2022, Calgary, Toronto, and Vancouver saw digital skills growth of 6.3 percent, surpassing New York City, San Francisco, and Seattle, where growth averaged about 4.7 percent. 29 “Stem talent: Canada’s shift from brain drain to brain gain,” Invest Canada, April 21, 2022.

In addition, immigrants to Canada tend to attain higher education. As of 2023, 68 percent of landed immigrants had attained postsecondary certificates or university degrees. 30 “Labour force characteristics of immigrants by educational attainment, annual,” Statistics Canada, January 5, 2024. Canada’s education system and its number of highly educated immigrants help explain why the country has been at the forefront of important innovations in recent years. Companies operating in Toronto and Montréal have been instrumental in the development of AI, for example.

A hurdle to cross in fintech, however, is a lack of more experienced talent in the sector. Some interviewees said that while junior positions could be filled, it was harder to find senior people with the experience of growing a start-up—people who had “seen the show before,” as one interviewee put it. “We’re trying to go from the start-up to the scale-up stage, and it is hard to find executive-level talent that has seen the show repeatedly and experienced growing a company from 20 to 50 to 1,000 consumers. It seems the talent pool is shrinking as we get bigger,” one interviewee told us. Twenty-nine percent of fintech leaders surveyed said they had found it hard to recruit local experienced talent.

The challenge of finding experienced talent will likely ease as the ecosystem matures. And just as the founders of companies that have made successful exits might finance more fintech start-ups in Canada, so too could founders help promote start-ups’ growth by acting as advisers.

The government may also consider attracting experienced fintech talent to Canada by further promoting existing initiatives and programs intended to encourage entrepreneurs and investors elsewhere to establish a presence in Canada.

The Canadian fintech sector appears set for growth. The right product offerings are likely to attract Canada’s many digitally savvy consumers who are open to innovation. Improved financial conditions will likely see more funding for fintechs—funding that could prove particularly powerful if spread more evenly across maturity stages and focused more on B2B solutions. Partnerships between incumbents and fintechs have the potential to benefit both parties. There are signs of change on the regulatory front, and there is an abundance of talent to help develop new products.

Nevertheless, it is hard to say just when the Canadian fintech industry will come into full bloom, given that it depends on progress in all the areas discussed. Moreover, it’s unlikely that progress will be spread evenly across the industry. Some categories might rapidly offer tremendous opportunities, while others might stall, whether that’s due to global trends or the peculiarities of the Canadian market. Fintechs, incumbents, and investors will therefore need to place their bets with extreme care. But it remains that the sector has large untapped opportunities that interested players should prepare to grasp.

Federico Berruti is a partner in McKinsey’s Toronto office, where Uzayr Jeenah is a partner, Opeyemi Otubela is a consultant, and Emily Seng Yue is an associate partner; Miklós Dietz is a senior partner in the Vancouver office; and Ammar Zahid is an associate partner in the Miami office.

The authors wish to thank Daniel Arguedas, Chloe Chan, Soma Cserhati, Jay Datesh, Evan Formisano, Janae Knott, Audrey Liang, Farid Minnikhanov, and Nemanja Predojevic for their contributions to this report.

The authors are grateful to the industry experts and business leaders who assisted them in their research, challenging the authors’ thinking and providing insights and guidance: Jeff Adamson, head of partnerships and cofounder, Neo Financial; Rania Ajakane, associate at Inovia Capital; Tarun Ajwani, senior vice president of sales and business development at Alpaca; Connor Atchison, CEO of Wisedocs; Isabelle Audette, vice president of marketing and communications for Montréal at Inovia Capital; Shelby Austin, founder and CEO of Arteria AI; Sion Balass, founder and managing partner of The Group Ventures; Janet Bannister, managing partner of Staircase Ventures; Nic Beique, founder and CEO of Helcim; Francesco Bova, academic lead at Creative Destruction Labs; Patrick Diab, chief product and partnership officer at Moneris; Craig Follett, cofounder and CEO of Peggy.io; Kirill Gertman, cofounder and CEO of Conduit; Kingsley Gifford, CEO of Median; Jay-Ann Gilfoy, president and CEO of Meridian Credit Union; Karim Gillani, cofounder and general partner of Luge Capital; Corey Gross, founder and CEO of Sensibill; Ben Harrison, partner and head of partnerships at Sagard; Justin Herlick, cofounder and CEO of Pine; Ricky Lai, partner at Portage; Christian Lassonde, founder and managing partner of Impression Ventures; Rob Lewis, founder and editor-in-chief of Fintech.ca; Calvin MacInnis, president and CEO of Coast Capital Savings; Alex Norman, cofounder of N49P and TechToronto; Andreas Park, professor of finance at University of Toronto; Katherine Regnier, founder and CEO of Coconut Software; Kevin Sandhu, cofounder and CEO of Otter; Leslie Shaw, senior director of corporate finance, strategy, and analytics at Equitable Bank; Tyrone Sinclair, founder and CEO of Billi Labs; Peter Tilton, chief digital officer at Royal Bank of Canada; Dave Unsworth, cofounder and general partner of Information Venture Partners; Khaled Verjee, managing partner at Round13; Alex Vronces, executive director of Fintechs Canada; Dustin Walper, CEO of Newton; Emily Walsh, vice president of Georgian; Gabriel Woo, head of enterprise payments at Royal Bank of Canada; Malik Yacoubi, CEO of Nesto; Danish Yusuf, founder and CEO of Zensurance; and Hanna Zaidi, vice president of payments strategy and chief compliance officer at Wealthsimple.

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Citi Publishes New Report on AI in Finance

London – Today, Citi Global Perspectives and Solutions publishes a new report AI & Finance: Bot, Bank & Beyond . The report analyses the role that artificial intelligence (AI) might play in changing the way both consumers and corporates bank.

From the likely use of autonomous agents seamlessly executing client decisions in the background, to productivity gains released by unlocking better data insights, banking bots are set to revolutionize all aspects of banking, according to the report.

David Griffiths, Citi Chief Technology Officer, said:

“The pace of adoption and impact of Gen AI across industries has been astounding as it becomes clear that it has the potential to revolutionize the banking industry and improve profitability. At Citi, we’re focused on implementing AI in a safe and responsible way to amplify the power of Citi and our people.”

Ronit Ghose, Head of Future of Finance, Citi Global Insights, said:

“AI will transform finance by empowering clients, creating new jobs and increasing competition. AI will make money and clients smarter. In the future, every client will have an AI powered assistant in their pocket, making their financial lives better.”

Key report highlights and themes include:

• $2 trillion in profit: AI could boost the total banking industry’s 2028E profits by 9% or $170 billion from just over $1.8 trillion to close to $2 trillion. This excludes non-bank financial sector profits. Citi, TTS survey, April 2024.
• Productivity gains : AI could drive productivity gains for banks by automating routine tasks, streamlining operations, and freeing up employees to focus on higher value activities. Generative AI will likely have a big impact on internal facing tasks such as content and information management, coding, and software.
• Governance and talent: The growth of AI may lead to fewer low-skilled roles in operations and technology, but governance and compliance roles will continue to grow. Our survey responses suggest AI talent availability is a challenge for banks and others. Talent wars are not over. Humans are still in demand.
• Will AI reduce or grow finance jobs? Historical technology adoption has not led to reduction of finance workforce but has changed the workforce mix over time. New jobs are constantly created.
• Will AI drive better value for clients? Integration of AI-powered bots into retail and corporate banking represents a significant potential transformation, offering clients benefits such as automated decision making and the search for best offers, and banks enhanced operational efficiency.

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at www.citigroup.com | X:  @Citi  | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi  | Facebook: www.facebook.com/citi

About Citi Global Insights and Citi Global Perspectives:

Citi Global Insights (CGI) seeks to deliver best-in-class thought leadership, data science, and client solutions on the major opportunities and challenges of our age. CGI publishes newly created and curated summaries of the best thematic content from across Citi.  Key focus areas include Sustainable Finance and the Future of Technology, Finance, Healthcare & Innovation.

Citi Global Perspectives & Solutions (Citi GPS) is the public content brand of CGI focusing on key trends in the global economy, the environment, the risk landscape, and technology & innovation.  CGI partners with leading academic institutions and external experts globally to deliver its insights.

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