RESEARCH · CONSUMER BANKING

Mercury's Conversion Scorecard

Mercury scored a 70.0 / 100 for customer conversion on its business bank account application.

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 Mercury Ranked

See where Mercury landed in the review and rankings of the Conversion Scorecard for Business Bank Accounts.

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What’s behind the score.

Mercury decides fast — a decision within 35 minutes of starting, automatic status updates, and zero follow-up tasks. The application itself is heavy: 50 fields across 14 screens, three manual document scans across multiple devices, redundant address entry, and data-use terms buried in links.

data fields across 14 screens — both at the rubric floor
User Effort
from first screen to completion — but zero follow-up requests after
Application time
from application start to decision delivered, with automatic updates
Decision speed
on data-usage understanding and privacy controls — terms buried in links
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

14 total screens — 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

50 total data fields — double the ≥25 floor. Best-in-class is ≤7.

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

Basic assist through address prefill and checkbox / selection inputs, but core details are still typed by hand. A 4 requires most data pulled automatically.

Sub-metric · What's measured

Document / file uploads

Level of document collection required

Score

1 / 5

Why this score — And not more

Manual scan of multiple documents across multiple devices — ID, formation document, and EIN document each force an exit from the application.

Sub-metric · What's measured

Account connections

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

Score

5 / 5 · ceiling

Why this score — And not more

Account connection is prompted with a clear payoff — priority application review for connecting an account.

Sub-metric · What's measured

Repeated actions

Number of times a user completes redundant work

Score

1 / 5

Why this score — And not more

Address collection is redundant across screens — company, physical, and residential addresses are entered separately rather than reused.

Sub-metric · What's measured

Sensitivity of information required

How much trust is required of the user, and whether it is merited

Score

3 / 5

Why this score — And not more

Sensitive information is required, but not asked for until mid-application at an appropriate time. A 4 stages asks with clear rationale and reassurance.

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

User fully completes the application end-to-end — no human hand-off required.

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

Zero follow-up tasks — a fully contained application.

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

Cross-device requests do not time out or drop the application.

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	14 total screens — past the 5+ screen floor. A 5 is a single screen.
Total number of fields Total fields / data points supplied	1 / 5	50 total data fields — double the ≥25 floor. Best-in-class is ≤7.
Manual data entry Information the user must type in manually, excluding uploads and account connections	3 / 5	Basic assist through address prefill and checkbox / selection inputs, but core details are still typed by hand. A 4 requires most data pulled automatically.
Document / file uploads Level of document collection required	1 / 5	Manual scan of multiple documents across multiple devices — ID, formation document, and EIN document each force an exit from the application.
Account connections Level of account connections required or optional, and how they improve the experience	5 / 5 · ceiling	Account connection is prompted with a clear payoff — priority application review for connecting an account.
Repeated actions Number of times a user completes redundant work	1 / 5	Address collection is redundant across screens — company, physical, and residential addresses are entered separately rather than reused.
Sensitivity of information required How much trust is required of the user, and whether it is merited	3 / 5	Sensitive information is required, but not asked for until mid-application at an appropriate time. A 4 stages asks with clear rationale and reassurance.
User self-sufficiency Can the user complete the application on their own	5 / 5 · ceiling	User fully completes the application end-to-end — no human hand-off required.
Total number of follow-up actions required All tasks completed within the same application flow — zero follow-ups.	5 / 5 · ceiling	Zero follow-up tasks — a fully contained application.
Error recovery & resilience The text with the application link made resuming very quick and easy.	5 / 5 · ceiling	Cross-device requests do not time out or drop the application.

Sub-metric · What's measured

Time from first screen to completion screen

Stopwatch “start” → “complete”

Score

3 / 5

Why this score — And not more

10+ minutes from first screen to completion — inside the 10–20 minute band. A 4 requires 7–10 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

No follow-up requests required.

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”	3 / 5	10+ minutes from first screen to completion — inside the 10–20 minute band. A 4 requires 7–10 minutes.
Time to complete follow-up requests Time it takes the user to complete assigned follow-up tasks	5 / 5 · ceiling	No follow-up requests required.

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

Decision delivered within 35 minutes of starting the application.

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

Updates were automatic, with prompts for the application status.

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	Decision delivered within 35 minutes of starting the application.
Time between communications Responsiveness for additional tasks needed to move the application forward	5 / 5 · ceiling	Updates were automatic, with prompts for the application status.

Sub-metric · What's measured

Clarity of approval

Is a “why” stated for the outcome

Score

3 / 5

Why this score — And not more

User is clear on the decision and the information used to make it. A 4 adds specific reason categories and what could change the outcome.

Sub-metric · What's measured

Ongoing data usage understanding

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

Score

1 / 5

Why this score — And not more

Terms and conditions buried in links — no plain-language view of ongoing data use.

Sub-metric · What's measured

Data privacy controls

Can I control permissions over who sees what

Score

1 / 5

Why this score — And not more

Terms and conditions buried in links — no meaningful controls over data sharing or permissions.

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	3 / 5	User is clear on the decision and the information used to make it. A 4 adds specific reason categories and what could change the outcome.
Ongoing data usage understanding Do I know how my data is used on an ongoing basis	1 / 5	Terms and conditions buried in links — no plain-language view of ongoing data use.
Data privacy controls Can I control permissions over who sees what	1 / 5	Terms and conditions buried in links — no meaningful controls over data sharing or permissions.

Opportunity

Highlights

Wins, losses, and what the network would fix.

Category: User effort
Wins: A functional account connection with a clear payoff (priority review), full self-sufficiency, zero follow-ups, and resilient cross-device recovery.
Losses: 50 fields across 14 screens, three manual document scans across devices, and redundant address entry — four sub-metrics at the floor.
Opportunities: A verified network profile would collapse the 50 fields and all three document uploads to confirm-and-submit, and reuse every address once entered.

Category: Application time
Wins: Zero follow-up requests — the application is complete at submission.
Losses: 10+ minutes to complete, driven by field volume and document scanning.
Opportunities: Pre-filled identity and business data — with no document scans — would push completion under 7 minutes.

Category: Decision speed
Wins: Decision within 35 minutes of starting, with automatic status updates throughout.
Losses: None — both sub-metrics at the ceiling.
Opportunities: Already best-in-class — the network preserves this while removing effort.

Category: Outcome transparency
Wins: Clear decision and clarity on the information used to make it.
Losses: Data-use terms buried in links — no ongoing visibility and no permission controls.
Opportunities: A persistent, plain-language data-use view with granular, revocable permissions would lift transparency to best-in-class.

Opportunity highlights by category: wins, losses, and what the network would fix.
Category	Wins	Losses	Opportunities
User effort	A functional account connection with a clear payoff (priority review), full self-sufficiency, zero follow-ups, and resilient cross-device recovery.	50 fields across 14 screens, three manual document scans across devices, and redundant address entry — four sub-metrics at the floor.	A verified network profile would collapse the 50 fields and all three document uploads to confirm-and-submit, and reuse every address once entered.
Application time	Zero follow-up requests — the application is complete at submission.	10+ minutes to complete, driven by field volume and document scanning.	Pre-filled identity and business data — with no document scans — would push completion under 7 minutes.
Decision speed	Decision within 35 minutes of starting, with automatic status updates throughout.	None — both sub-metrics at the ceiling.	Already best-in-class — the network preserves this while removing effort.
Outcome transparency	Clear decision and clarity on the information used to make it.	Data-use terms buried in links — no ongoing visibility and no permission controls.	A persistent, plain-language data-use view with granular, revocable permissions would lift transparency to best-in-class.

Mercury's Conversion Scorecard

Why SOLO Scores

Where Mercury Ranked

What’s behind the score.

Methodology

Opportunity

Highlights

Replace repetitive workflows with reusable network memory.

Replace repetitive workflows with reusable network memory.