Latest / Banking Transformed with Jim Marous
The Silent Attrition Crisis in Banking: How to Detect It Early
Most banks think they have an attrition problem under control because the closure numbers still look healthy.
But customers are not leaving the way they used to.
They are opening accounts at Chime, SoFi, Robinhood, Cash App, and Acorns while keeping their old bank relationship open. The direct deposit stays, and the account stays active, and even the dashboard says everything is fine.
Meanwhile, more spending, more engagement, and more deposits quietly move somewhere else.
In this episode, I break down what I call “silent attrition” and why the first outbound transfer matters more than the…
The skinny
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