The Science of the Perfect Offer: Uniting Sentiment Analysis, Prediction, and Price Elasticity
For decades, banks have defaulted to “blanket offers”, broad rate increases and generic promotions to drive deposit growth. While this shotgun approach may appear to generate new activity, it too often results in high acquisition costs for money that is simply shifted internally rather than bringing in true net new money (NNM). In an era […]
5 Proven AI Strategies to Stop Customer Attrition in Banking Before It Happens
What if you could predict when a customer is about to leave before they even realize it themselves? In today’s fiercely competitive banking landscape, financial institutions spend millions acquiring new customers. Yet, the quiet leak in their deposit base through customer attrition continues to drain revenue faster than new acquisition can replenish it. It’s not […]
Churn Prediction for South African Banks and Insurers: Using AI to Prevent Customer Loss Before It Happens
TL;DR Acquiring a new retail banking customer in South Africa costs between R800 and R2,500 depending on the acquisition channel, product type, and customer segment. Retaining an existing one costs a fraction of that figure, provided the institution knows the customer is at risk before they leave. Churn prediction is the capability that creates that […]
