Mystery Shopping Gets A New Look

Mystery shoppers have been used by the financial industry for many years, but almost always utilizing outside sources and personnel. Evaluators have learned, however, that professional "shoppers" are soon spotted, affecting test outcomes.

Many banks are now recruiting their own customers to do the "mystery shopping" and the results are dismaying. Customers are more discerning. Most common criticism - customers want to be treated as individuals. The American Banker reported that one bank said they found their customers wanted name tags on employees; customer acknowledgment by name in the first minute; fast, efficient service; and a "thank you" for their business.

Alert! OTS Also "Shopping"!

OTS is presently running a pilot program and doing some mystery shopping of its own to determine if there is discrimination in evidence in the pre-application stage of lending. They are looking for banks that may be engaging in pre-screening or other discriminatory practices. These practices would be in direct violation of the Fair Housing Act and the Equal Credit Opportunity Act.

The regulatory agency said they wanted to let financial institutions know that they will be out there checking - as mystery shoppers.

Copyright © 2000 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 10, No. 10, 10/00