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HOOGResearch & Advisory

BFSI

Understanding Customer Attrition and Switching at a Retail Bank

Uncovering the triggers that led customers to move balances and primary banking relationships to competitors.

Example engagement
Client
Private-sector retail bank
Industry
BFSI
Geography
India
Duration
7 weeks
Capabilities
Customer & Consumer Insights, Competitive Intelligence

Research design at a glance

How the work is structured

India · 7 weeks

  1. 1

    Switched-customer IDIs

    Customers who moved balances or salary accounts.

  2. 2

    Attrition driver survey

    Quantifying triggers across segments.

  3. 3

    Complaint theme analysis

    Grievance data mapped to journey stages.

  4. 4

    Driver modelling

    Linking attributes to likelihood of switching.

Qualitative depth

Interviews, groups & observation

  • Switched-customer IDIs~25

Quantitative scale

Surveys, audits & measurement

  • Survey respondents~1,000

Sample sizes are indicative of a typical design for this type of question; real engagements are scoped to the decision.

01

Client context

The bank was retaining accounts but losing balances and primary-bank status, especially among salaried professionals.

02

Business challenge

Internal data showed declining engagement but not the triggers or destinations of switching.

03

Research objective & questions

Identify the triggers and root causes of attrition, and where retention investment would have the greatest effect.

  • What triggers customers to reduce engagement or switch?
  • Which competitors and fintechs are customers moving to, and why?
  • Which service failures cause lasting damage?
  • Which retention interventions would have worked?

04

Methodology & approach

Switched-customer IDIs
Customers who moved balances or salary accounts.
Attrition driver survey
Quantifying triggers across segments.
Complaint theme analysis
Grievance data mapped to journey stages.
Driver modelling
Linking attributes to likelihood of switching.

05

Sample & geography

  • ~25 switched-customer IDIs
  • ~1,000 survey respondents
  • Geography — India

06

Key findings

  • Poorly handled service issues were the most common switching trigger.
  • Customers moved salary accounts when employers offered alternatives.
  • Fintech apps attracted day-to-day spending while the bank kept dormant balances.
  • Relationship managers' turnover weakened loyalty among affluent customers.

07

Business implications

  • Strengthen service recovery for high-impact issues.
  • Build employer-led salary account retention programmes.
  • Improve the everyday digital experience to win back spending.

08

Outcome

The bank gained a ranked view of attrition drivers and a targeted retention roadmap by segment.

Example engagement — Shows how Hoog approaches this type of question. Not a specific client project. Findings are directional.

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