Why has Berkshire Bank's mobile check deposit feature seen a 30% drop in usage over the past quarter?

Introduction

Berkshire Bank's mobile check deposit feature has experienced a 30% drop in usage over the past quarter, signaling a significant issue that requires immediate attention. To address this problem, I'll employ a systematic approach to identify, validate, and resolve the root cause while considering both short-term fixes and long-term strategic implications.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be seasonal factors at play. Has this 30% drop been compared to the same quarter last year?

Why it matters: Seasonal variations could explain the usage drop without indicating a deeper problem. Expected answer: Yes, it's been compared and the drop is still significant. Impact on approach: If seasonal, we'd focus on year-over-year trends rather than quarter-over-quarter.

• Considering user segments, I'm curious about the distribution of the drop. Is the 30% decrease uniform across all user segments or concentrated in specific groups?

Why it matters: Identifying affected segments helps pinpoint potential causes and tailor solutions. Expected answer: The drop is more pronounced among younger users and small business accounts. Impact on approach: We'd investigate factors specifically affecting these segments, such as competing products or changing needs.

• Thinking about recent changes, have there been any updates to the mobile app or the check deposit feature in the last quarter?

Why it matters: Recent changes could directly impact user behavior and feature usage. Expected answer: A minor UI update was implemented two months ago. Impact on approach: We'd scrutinize the update's impact on user experience and workflow.

• Considering external factors, has there been any change in the bank's marketing efforts or promotions related to mobile check deposits?

Why it matters: Changes in promotion could affect awareness and usage of the feature. Expected answer: Marketing spend for this feature was reduced by 20% last quarter. Impact on approach: We'd evaluate the correlation between marketing efforts and feature usage.