Why Bank Clients Love It

By finding a product-market fit, we decided to investigate the user experience of borrowers rejected by banks.

The research shows that Ninja Lender can offer banks a tool that will help not only reduce customer acquisition costs but also increase customer loyalty by providing desired customer service without extra costs. There are several insights:

  1. Bank customers become less loyal not because of rejection itself but because of attitude and lack of communication. The biggest issue is the lack of good customer service during and after the rejection stage.
  2. Many banks do not provide any reasons for loan rejection. Usually, they send a short formal email without any recommendations or regrets to their customers. This is the main reason why banks are losing loyal clients.
  3. As we found out previously, banks believe that they can lose their clients if they will cooperate with other banks in order to find an alternative loan provider to rejected clients. Nevertheless, due to our research, it is a false statement. Banks will win way more if they suggest an alternative option to their rejected loyal customers rather than deny them and do nothing.
  4. Bank clients leave because of attitude rather than a negative decision itself.

Ninja Lender allows rejected borrowers to consider other opportunities without extra effort. It includes going to different banks, collects required documents for several credit institutions, and spend time on consultations or websites. That is what bank clients like about us!