The commercial vocabulary of banking and financial services was borrowed from consumer ecommerce and it fits with enough imprecision to create strategic confusion at the leadership level that nobody is naming as confusion because it is the vocabulary everyone is using.
Conversion rate in financial services is not the same commercial event as conversion rate in ecommerce. The intent that brings a customer to a bank product page and the intent that brings them to a product page for a pair of trainers are not the same psychological state. The trust threshold required to complete the transaction is categorically different. The design of the journey that needs to bridge the gap between intent and action is categorically different.
Treating them with the same commercial mechanics produces the performance gaps you are trying to explain with metrics that were designed for a different kind of customer relationship entirely. I do not apply an ecommerce framework to a financial services business and call it digital marketing strategy. I build the commercial architecture that fits the specific trust dynamic of your sector.
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