Credit Card is a modern-day currency which is extensively used for various financial transactions. It provides ease of doing business to both consumers and businesses. It plays a vital role in mitigating the need to carry currency and is called plastic money. Credit cards also provide luxury to people to spend money without having it and can be repaid at a later point in time, increasing the spending capacity of a consumer and helping businesses to thrive. Hence credit cards have become an integral part of today’s financial system. One of the major issues that financial institutions are facing in today's rapidly changing environment is understanding and mitigating customer churn in order to sustain a successful business. Churn is basically the phenomenon where the customers discontinue their credit card services. This can have a profound impact on bank’s revenue and customer satisfaction. I have decided to work on analyzing the reason behind credit card customer churn because of my interest and experience in Finance Domain. I wanted to understand the reasons as to what are the factors that could potentially cause the customers of a financial institution to drift away. Also I wanted to understand what a financial institution can do in order to keep its customers intact. These are some of the reasons because of which I selected this project. In this project, we have used various methods to analyze and to determine the factors that could potentially cause financial institutions such as banks to lose credit card customers. We have tried to analyze the data on various platforms and tried to use various methods required to analyze dataset having information about credit card customers.
Github :Credit Card Customer Churn Repo
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