RESEARCH · CONSUMER BANKING

Bank of America's Conversion Scorecard

Bank of America scored a 76.8 / 100 for customer conversion on its personal checking account application.

bank of america scored 76% on the solo conversion scorecard

Why SOLO Scores

SOLO works with 100s of fintech programs to optimize the unit economics and customer conversion of their data collection processes on behalf of their sponsor banks. This research provides a baseline for the impacts of data reusability through the SOLO network.

Where BofA Ranked

See where Bank of America landed in the review and rankings of the Conversion Scorecard for Consumer Deposit Accounts.

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What’s behind the score.

Bank of America pairs an instant decision with the clearest data-use terms in the category — plain-language tables of who gets access to what, and the only application reviewed that encrypts entries whenever the user isn't typing. The drag is volume and re-entry: 21 hand-typed fields across 7 screens, debit-card-only funding, and a post-approval routing that pushed the user out of the application and forced a re-login to reach mobile banking — 11:40 in total.

21
fields across 7 screens, including debit-card funding details
User Effort
11:40
from first field to funded account - 9:01 to account approved
Application time
Instant
decision, immediately able to start using features.
Decision speed
4/5
ongoing data use clarity - the most digestible terms in the category
Outcome transparency

Methodology

SOLO reviewed the application across four primary categories: User Effort, Application Time, Decision Speed, and Outcome Transparency. Each sub-metric is scored 1–5 against a fixed rubric.

Full Scorecard

17 SUB-METRICS

Sub-metric · What's measured

Total number of screens

How many times the user clicks to the next screen

Score

1 / 5

Why this score — And not more

Six application screens plus one to fund the account — 7 total, past the 5+ screen floor. A 5 is a single screen.

Sub-metric · What's measured

Total number of fields

Total fields / data points supplied

Score

1 / 5

Why this score — And not more

21 fields total, including those required to fund the account — past the 16+ floor. Best-in-class is 1–4.

Sub-metric · What's measured

Manual data entry

Information the user must type in manually, excluding uploads and account connections

Score

3 / 5

Why this score — And not more

Nothing pre-filled outside of a light address assist, but minimal entry was needed. Funding the account was manual entry only. A 4 requires most data pulled automatically.

Sub-metric · What's measured

Document / file uploads

Level of document collection required

Score

5 / 5

Why this score — And not more

No documents needed — and the preview screen set expectations for when and why one might be required.

Sub-metric · What's measured

Account connections

Level of account connections required or optional, and how they improve the experience

Score

3 / 5 · ceiling

Why this score — And not more

No integration was required, and the manual account connection was seamless and easy. A 5 requires a functional connection with a clear payoff.

Sub-metric · What's measured

Repeated actions

Number of times a user completes redundant work

Score

3 / 5

Why this score — And not more

3 - the multiple asks to login was noticeably different from other experiences. Most others in this category immediately took the user to their account after it was funded. Bank of America routed us out of the application and prompted us to re-login to the mobile dashboard in order to access the mobile banking interface.

Sub-metric · What's measured

Sensitivity of information required

Clear disclaimers for each sensitive ask — and the only provider in this category to encrypt data throughout the application whenever the user wasn't actively typing.

Score

5 / 5

Why this score — And not more

Clear disclaimers and reasons for requesting sensitive PII throughout.

Sub-metric · What's measured

User self-sufficiency

Can the user complete the application on their own

Score

5 / 5 · ceiling

Why this score — And not more

Fully self-sufficient — no human review, follow-ups, or tickets.

Sub-metric · What's measured

Total number of follow-up actions required

All tasks completed within the same application flow — zero follow-ups.

Score

5 / 5 · ceiling

Why this score — And not more

One follow-up remains: connecting direct deposit to actually fund the account. A 5 means zero follow-up tasks.

Sub-metric · What's measured

Error recovery & resilience

The text with the application link made resuming very quick and easy.

Score

5 / 5 · ceiling

Why this score — And not more

The only multi-device action was MFA; no cross-device recovery was ever needed.

User effort. Full Conversion Scorecard methodology by category and sub-metric.
Sub-metric · What's measured	Score	Why this score — And not more
Total number of screens How many times the user clicks to the next screen	1 / 5	Six application screens plus one to fund the account — 7 total, past the 5+ screen floor. A 5 is a single screen.
Total number of fields Total fields / data points supplied	1 / 5	21 fields total, including those required to fund the account — past the 16+ floor. Best-in-class is 1–4.
Manual data entry Information the user must type in manually, excluding uploads and account connections	3 / 5	Nothing pre-filled outside of a light address assist, but minimal entry was needed. Funding the account was manual entry only. A 4 requires most data pulled automatically.
Document / file uploads Level of document collection required	5 / 5	No documents needed — and the preview screen set expectations for when and why one might be required.
Account connections Level of account connections required or optional, and how they improve the experience	3 / 5 · ceiling	No integration was required, and the manual account connection was seamless and easy. A 5 requires a functional connection with a clear payoff.
Repeated actions Number of times a user completes redundant work	3 / 5	3 - the multiple asks to login was noticeably different from other experiences. Most others in this category immediately took the user to their account after it was funded. Bank of America routed us out of the application and prompted us to re-login to the mobile dashboard in order to access the mobile banking interface.
Sensitivity of information required Clear disclaimers for each sensitive ask — and the only provider in this category to encrypt data throughout the application whenever the user wasn't actively typing.	5 / 5	Clear disclaimers and reasons for requesting sensitive PII throughout.
User self-sufficiency Can the user complete the application on their own	5 / 5 · ceiling	Fully self-sufficient — no human review, follow-ups, or tickets.
Total number of follow-up actions required All tasks completed within the same application flow — zero follow-ups.	5 / 5 · ceiling	One follow-up remains: connecting direct deposit to actually fund the account. A 5 means zero follow-up tasks.
Error recovery & resilience The text with the application link made resuming very quick and easy.	5 / 5 · ceiling	The only multi-device action was MFA; no cross-device recovery was ever needed.

Sub-metric · What's measured

Time from first screen to completion screen

Stopwatch “start” → “complete”

Score

1 / 5

Why this score — And not more

9:01 from first field to account confirmed — and 11:40 in total to fund the account, log back in, and reach the mobile banking interface. Past the >10 minute floor; a 5 is ≤4 minutes.

Sub-metric · What's measured

Time to complete follow-up requests

Time it takes the user to complete assigned follow-up tasks

Score

5 / 5 · ceiling

Why this score — And not more

The deposit was made within the same application flow — no follow-up task required to fund the account.

Application time. Full Conversion Scorecard methodology by category and sub-metric.
Sub-metric · What's measured	Score	Why this score — And not more
Time from first screen to completion screen Stopwatch “start” → “complete”	1 / 5	9:01 from first field to account confirmed — and 11:40 in total to fund the account, log back in, and reach the mobile banking interface. Past the >10 minute floor; a 5 is ≤4 minutes.
Time to complete follow-up requests Time it takes the user to complete assigned follow-up tasks	5 / 5 · ceiling	The deposit was made within the same application flow — no follow-up task required to fund the account.

Sub-metric · What's measured

Time to final decision, from application start

Stopwatch “start” → account open / decision made

Score

5 / 5 · ceiling

Why this score — And not more

Immediately able to start using features — an instant decision.

Sub-metric · What's measured

Time between communications

Responsiveness for additional tasks needed to move the application forward

Score

5 / 5 · ceiling

Why this score — And not more

Timely communications after completion; no follow-ups were necessary, so none were required.

Decision speed. Full Conversion Scorecard methodology by category and sub-metric.
Sub-metric · What's measured	Score	Why this score — And not more
Time to final decision, from application start Stopwatch “start” → account open / decision made	5 / 5 · ceiling	Immediately able to start using features — an instant decision.
Time between communications Responsiveness for additional tasks needed to move the application forward	5 / 5 · ceiling	Timely communications after completion; no follow-ups were necessary, so none were required.

Sub-metric · What's measured

Clarity of approval

Is a “why” stated for the outcome

Score

4 / 5

Why this score — And not more

Disclaimers throughout detail why each piece of sensitive information is requested — but there is no language on what is or isn't used for eligibility. A 5 explains the specific drivers of the outcome.

Sub-metric · What's measured

Ongoing data usage understanding

Do I know how my data is used on an ongoing basis

Score

4 / 5

Why this score — And not more

The terms give a plain-terms overview of who gets access to what and for what purpose, laid out in a digestible table-and-bullets format — clearer than others reviewed in this category. A 5 adds a persistent, auditable data-use view.

Sub-metric · What's measured

Data privacy controls

Can I control permissions over who sees what

Score

3 / 5

Why this score — And not more

The user understood who would have access, but had no means to revoke data usage for marketing across BofA's affiliates — and no granular control of the record's visibility over time. A 4 requires granular, revocable controls.

Outcome transparency. Full Conversion Scorecard methodology by category and sub-metric.
Sub-metric · What's measured	Score	Why this score — And not more
Clarity of approval Is a “why” stated for the outcome	4 / 5	Disclaimers throughout detail why each piece of sensitive information is requested — but there is no language on what is or isn't used for eligibility. A 5 explains the specific drivers of the outcome.
Ongoing data usage understanding Do I know how my data is used on an ongoing basis	4 / 5	The terms give a plain-terms overview of who gets access to what and for what purpose, laid out in a digestible table-and-bullets format — clearer than others reviewed in this category. A 5 adds a persistent, auditable data-use view.
Data privacy controls Can I control permissions over who sees what	3 / 5	The user understood who would have access, but had no means to revoke data usage for marketing across BofA's affiliates — and no granular control of the record's visibility over time. A 4 requires granular, revocable controls.

Opportunity

Highlights

Wins, losses, and what the network would fix.

Category: User effort
Wins: No documents needed, with expectations set up front; data encrypted whenever the user wasn't actively typing — unique in this category; seamless manual funding; zero follow-ups.
Losses: 21 hand-typed fields across 7 screens, and the post-approval flow routed the user out of the application, forcing a re-login to reach mobile banking.
Opportunities: Network pre-fill would remove 14 of 22 fields, and a persistent session straight into mobile banking would eliminate the redundant logins.

Category: Application time
Wins: The deposit was completed in the same flow, with no follow-up task to fund the account.
Losses: 9:01 to confirmation — and 11:40 in total to a funded, accessible account.
Opportunities: Pre-filled identity and employment data would bring the journey under the 4-minute ceiling.

Category: Decision speed
Wins: Instant decision — immediately able to start using features — with timely communications.
Losses: —
Opportunities: —

Category: Outcome transparency
Wins: The most digestible data-use terms in the category — plain-language tables of who gets access to what, and why.
Losses: No language on what is used for eligibility, and no way to revoke marketing use of data across BofA's affiliates.
Opportunities: Stated eligibility drivers and granular, revocable permissions would push a strong category to best-in-class.

Opportunity highlights by category: wins, losses, and what the network would fix.
Category	Wins	Losses	Opportunities
User effort	No documents needed, with expectations set up front; data encrypted whenever the user wasn't actively typing — unique in this category; seamless manual funding; zero follow-ups.	21 hand-typed fields across 7 screens, and the post-approval flow routed the user out of the application, forcing a re-login to reach mobile banking.	Network pre-fill would remove 14 of 22 fields, and a persistent session straight into mobile banking would eliminate the redundant logins.
Application time	The deposit was completed in the same flow, with no follow-up task to fund the account.	9:01 to confirmation — and 11:40 in total to a funded, accessible account.	Pre-filled identity and employment data would bring the journey under the 4-minute ceiling.
Decision speed	Instant decision — immediately able to start using features — with timely communications.	—	—
Outcome transparency	The most digestible data-use terms in the category — plain-language tables of who gets access to what, and why.	No language on what is used for eligibility, and no way to revoke marketing use of data across BofA's affiliates.	Stated eligibility drivers and granular, revocable permissions would push a strong category to best-in-class.

Bank of America's Conversion Scorecard

Why SOLO Scores

Where BofA Ranked

What’s behind the score.

Methodology

Opportunity

Highlights

Replace repetitive workflows with reusable network memory.

Replace repetitive workflows with reusable network memory.