Helping a bank improve its mortgage refi business by mapping its customers’ path to purchase

Business Issue

A major national bank needed to better understand the journey its customers took when refinancing a mortgage. The bank wanted to know what matters to customers when choosing a lender, what causes them to consider refinancing, how they decide which providers to consider, which touchpoints are most influential, and which “reasons to believe” have the greatest impact on refinancing and purchase. The goal was to understand what the bank could do to influence its customers’ decision-making process.

What We Did

We mapped the consumer process from start to finish using our dynamic path-to-purchase approach, which revealed a specific weakness in how customers perceive the bank’s mortgage financing business. We learned that more than one-third of customers were excluding the bank from their consideration set because they perceived the bank’s rates to be too high.


Based on the increased understanding of specific steps consumers take when considering a refinance and a new-found understanding of how the bank is perceived, we worked side-by-side with our client to develop a targeted set of strategies to increase awareness and improve communication about its mortgage lending services and offerings. The lending process is now faster and more agile, speeding customers along the path to purchase.

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