Case Study: Lloyds Bank uncovers honest money insights with Indeemo

Lloyds Bank captures 500+ customer stories in 3 weeks with Indeemo

Lloyds Bank faced the challenge of customers being unwilling to talk honestly about their finances, a sensitive topic, in traditional research settings like focus groups. This was a significant problem for the bank as it tried to design products around real customer behavior, especially for vulnerable customers. To overcome this, Lloyds Bank partnered with the vendor Indeemo to implement a longitudinal diary study using its mobile insight platform.

The solution involved a three-week mobile diary study where 20 participants used the Indeemo app to submit responses via photo, video, note, or screen recording. This indirect approach allowed customers to open up in their own time and language. The results were highly successful, with a 95% completion rate yielding over 500 contextual customer stories. The study provided rich, honest insights into previously hidden topics like spending on betting and overdrafts, and the team found the method to be faster, cheaper, and higher quality than expected.

Lloyds Bank