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Attrition Model

Keep your best customers by using predictive modeling and customer profiling to form better customer retention strategies.

On-Demand Visibility to Customers at Risk...Finally.

Attrition is Reversible. Today, most banks and credit unions learn that they’ve lost a client only after the final decision has been made and it’s too late to make a difference. They’ve missed out on the months-long gestation period, when issues were brewing and account teams could have intervened meaningfully. Institutions can spot signs of trouble before the account holder, customer or member, decides to exit and still has a good shot at intervening and retaining them.

Through a predictive KLI modeling (artificial intelligence machine learning powered) process leveraging our Key Lifestyle Indicators®, Segmint uses customer profiling to identify individuals at high-risk of leaving an institution in the near future. By analyzing customer insights describing product openings, banking behaviors, account activity and trends, held-away payment behavior and merchant spend patterns we identify those customers that may be experiencing a confluence of events potentially leading to a departure.

Why Focus on Attrition Now?

Learn more about our Attrition Model from our Chief Product Officer to understand the crucial role that data and predictive modeling can play in the ongoing challenge of managing attrition for Financial Institutions.

Our Approach to Churn Detection

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Simply Better Data

Everyday purchase behaviors are extremely predictive of churn

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Daily Detection

Observes data produced by customers daily to determine if behaviors will impact churn

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Continuous Optimization

On-demand access to at-risk customers

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Low-Friction Integration

One-time integration with ongoing data exchange

The attrition model analyzes purchase spend behaviors with merchants, categories and brands to continuously identify those customers that are indicative of churn risk.

“Institutions can spot signs of trouble before the client decides to exit and still has a good shot of intervening and retaining the client.”

- Boston Consulting Group

According to Accenture, attrition rates in the banking industry hover around 11%, and the annual churn rates on new customers are roughly in the 20-25% range during the first year — half of which don’t make it past the first 90 days after opening their accounts. Given that it costs over $300 to acquire a new customer, the benefit of identifying customers early, and reaching out to intervene can result in significant savings.

Segmint’s Attrition Model, through consumer behavior modeling, proactively limits the impact of churn for financial institutions of all sizes.

Attrition Indicators

Want to know how the Attrition Model works and why it's different? Check out this short video.

Watch this video to learn more about why FI's need an attrition model now to predict churn.