Customer-level data can yield insights that will enrich efforts to retain and cross-sell to profitable customers, attract new ones, and upgrade the unprofitables. However, advanced practitioners recognize the importance of supplementing this information with direct customer contact, applied in deposits, credit cards, small business, and investment management.

Attrition of deposits comes in two flavors - runoff in accounts that remain open and outright customer defection - and it has become a major profit drain in retail financial services. - $20 million to $35 million per $10 billion of deposits before taxes, our research suggests.

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