Challenge: A well-known regional bank wanted to explore the reasons behind the recent sales decline of its checking account targeted to small businesses, and potentially undertake a redesign of the product in order to reverse the decline and grow share.

Objective: To identify perceived product strengths and weaknesses, and potential reasons for lack of engagement, as well as evaluate and generate product refinement ideas, to ultimately help build and improve the small-business account that is differentiated from other checking accounts.

Solution: A Qualitative exploratory was conducted in the Boston market among key audiences, including the bank’s customers of various checking accounts and prospects.

Result: Plan-it used findings and insights from this study to provide recommendations for a redesign of the small-business checking account.