Customer churn for a major bank

The credit card division of a major bank were facing some disturbing trends, these were:

• An increasingly competitive credit card business environment
• A shrinking number of customers within their credit card customer base
• A high proportion of the customers being lost were very profitable

To maintain the viability of the company’s credit card offering, action was required to address these disturbing trends. 

The key objectives of this project were to ensure that our client reduced churn amongst valuable credit card customers and to utilise our clients retention team in the most efficient and effective manner.

By using a range of advanced statistical modelling and datamining techniques Datamine enabled our client to accurately identify customers who were about to leave.

Our client then targeted the customers identified as likely to churn in the near future with an offer they just could not refuse!  The customers saved by this process made a direct contribution to bolstering our clients’ bottom line.