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Disappearing Customer

They may not know it, but many US banks are experiencing a net decline in their overall organic growth rates of checking customers. Simply put, they are acquiring fewer new customers than they are losing through attrition. This should be a growing concern for banks given the rising-rate environment and heightened competition for profitable deposit growth. Customers are also disappearing in the literal sense; the shift toward digital transactions means that banks have fewer opportunities to actually see their customers, making it more difficult to form relationships with them. It is imperative that banks address these trends that are often ...

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