SAS^® Customer Retention for Banking

Successful retention starts with the first customer contact and continues throughout the entire lifetime of a relationship. Built on this principle, SAS Customer Retention for Banking enables your organization to quickly gain a better understanding of the variables that influence customer attrition – allowing you to determine not only which customers are likely to cancel service or leave altogether, but why.

In the Spotlight Grow customer base and increase profitability (PDF: 318KB)

The dramatic increase in competition among banks and financial services companies has placed new emphasis on the value of customer retention. Because recruiting new customers is so much more expensive than retaining old ones, it is imperative to predict which of your customers are likely to leave, and which you'd like to stay, so you can implement strategies to keep them.

Such retention projects require organizing and analyzing huge volumes of data that are difficult to access and consolidate. Nevertheless, today's competitive marketplace requires banks to understand customers on a more personal level and gain a real understanding of their behavior and values.

SAS Customer Retention for Banking provides a ready-to-deploy, banking-specific data model and predefined analytical models for attrition – all built on an extensible architecture specifically designed to help banks retain their best customers. The solution uses SAS' award-winning data warehousing and analytics to offer:

• Accurate reporting on who is leaving your company.
• Insights into the major factors influencing customer attrition and product cancellation.
• Industry-leading accuracy for predicting which customers are likely to leave or cancel service in the near future.
• Proactive, rules-based analysis of account behavior.
• An accurate early-warning alert system.
• Flexible and scalable technology that can keep up with your company's growth.
• Easy integration with other solutions such as marketing automation or performance management systems.

SAS Customer Retention for Banking uses data gathered from every corner of your company to calculate a customer's likelihood to switch to a competitor. These "likelihood" scores, in combination with customer profitability information, can then be used to segment the existing customer base better and effectively target valuable customers to prevent them from leaving.

Comprehensive banking intelligence
SAS Customer Retention for Banking is available as a component of SAS Banking Intelligence Solutions, a suite of software and services that combine award-winning analytic and data warehousing technology with decades of industry experience. Through proven, prebuilt processes, techniques and models, SAS Banking Intelligence Solutions speed up both implementation and results – yielding significant returns within months, not years.