Mirror Mirror on the Wall, Who’s the Next Bank Customer to Churn?

Increasing financial consumption demand of customers has intensified the competition among Nigerian banks. This is aided by the fact that most bank customers have accounts across several banks. A term we refer to as multi-banking. Today’s banking customers not only demand more services, but are better informed, and are happy to jump ship to a competitor offering better value and experience.

In a hyper-competitive financial services industry, the focus on understanding customer behavior can never be overemphasized. To increase profits for continuing operations and enhance the core competitiveness, commercial banks must avoid the transfer of valuable customers to a competitor through customer churn. So they need to devise a way of preempting customer churn. In this publication, we took a comprehensive deep dive into (descriptive modeling)WHY retail banking customers churn, (predictive modeling)WHO is the next to churn and (prescriptive modeling)WHAT the bank can do to stop them from churning.


Read more here – https://www.linkedin.com/pulse/mirror-wall-whos-next-bank-customer-churn-blessing-oladeji/