Can Cross-Selling Affect Your Net Promoter Score?

September 11 — New research from BAI’s Banking Outlook, a quarterly research study consisting of a combined total of more than 1,200 customers and financial services leaders from institutions of all sizes, suggests that the difficulty of opening new accounts digitally may be driving cross-sold customers to abandon new accounts before finishing the initial opening processes. It may also influence their decision to switch banks.

BAI researchers wanted to understand key areas of banking cross-sell activities, customer Net Promtoer Score — a metric indicating the level of customer satisfaction and loyalty — and customers’ experiences through various channels.

Highlights from the latest Outlook include:

  • Millennials are more likely to be shopping for (and opening) new accounts than Gen X and baby boomer generations.
  • The most commonly mentioned reason for not opening an account after shopping related to the amount of time it took and the difficult account opening process across products.
  • Because of painful account opening processes, customers who open an account as a result of cross-selling processes are less loyal than customers who do not open new accounts. In short, the cross-selling process to new and existing customers is hurting NPS.
  • Sixty percent of people most recently cross-sold are more likely to switch main banks in the next two years. Only 47 percent of customers who were not cross-sold would switch banks.
  • Millennials have, on average, more than 70 interactions per month with their main financial service provider, while Gen Xers have only an average of 60 and boomers have fewer than 45. Millennials also express the most frustration with digital channels.
  • “Our research offers leaders insight into the risk of not understanding their customers’ journey, how NPS data is impacted by cross-selling and what customers expect in order to stay with their main bank,” said Karl Dahlgren, managing director of research for BAI. “Our goal with the most recent installment of the BAI Banking Outlook is to help financial service leaders understand their current customers’ needs and pain points. This fact-based information will enable leaders to identify priorities for improvement and understand how to deepen their valued relationships over time.”

For more information about the Outlook results, or to watch a free webinar on the topic, visit


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