Most primary checking account switches are not inevitable. Seventy percent or recent switchers say they likely would've stayed if their previous institution had better met their needs. New American Banker research, sponsored by Valid Systems, combines a survey of 1,000 recent switchers with behavioral analysis of 100 million deposit accounts representing $4 trillion in annualized deposits. The report identifies six distinct behavioral segments and shows how banks and credit unions can use predictive intelligence to recognize warning signs, focus on the relationships they can save and deliver the right intervention before attrition becomes inevitable.
In this report, you'll discover:
- Why 70% of recent switchers say their original institution could have saved them
- How six behavioral segments reveal distinct churn risks, timelines and warning signs
- Which customer groups present the greatest opportunity to protect valuable deposits
- How predictive segmentation can enable earlier, more personalized retention strategies