Churn Prediction in Iran Banking Industry Case of a Private Iranian Bank

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ASGARI MOHSEN; Taghva Mohammadreza; taghavifard mohammadtaghi

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Journal: PUBLIC MANAGEMENT RESEARCHES Year:2018 | Volume:11 | Issue:41 Page(s): 57-82

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Information Journal Paper

Title

Churn Prediction in Iran Banking Industry Case of a Private Iranian Bank

Author(s)

ASGARI MOHSEN | Taghva Mohammadreza | taghavifard mohammadtaghi | Issue Writer Certificate

Keywords

Churn PredictionQ1

BankingQ1

Markov ModelQ1

Hierarchical K-MeansQ1

Data MiningQ1

Abstract

After the emergence of private banks in Iran, due to its attractiveness, this industry has witnessed a rapid growth such banks. The abundance of private banks led to a very high pressure competitive environment and gave dissatisfied customers a chance to easily switch banks. On the other hand, the most important advantage of the competitive environment among the banks is to have more resources at a low risk. Losing customers to another bank is equivalent to a decrease in a bank's resources. Since the acquisition of new customers, costs much more in comparison to maintaining the existing ones, the banks try hard to keep their customers. Thus, customers Churn Predictions via analyzing their financial behavior and finding possible methods for preventing customer defection is crucial. This research utilizes the Hierarchical K-Means clustering technique for detection of customers’ churn and also applies Markov Chain model for calculating the probability of customer churning in the future. Using these techniques and financial data of an Iranian private bank, we build an example of this model that can predict the possibility of losing customers.

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APA: Copy

ASGARI, MOHSEN, Taghva, Mohammadreza, & taghavifard, mohammadtaghi. (2018). Churn Prediction in Iran Banking Industry Case of a Private Iranian Bank. PUBLIC MANAGEMENT RESEARCHES, 11(41 ), 57-82. SID. https://sid.ir/paper/370673/en

Vancouver: Copy

ASGARI MOHSEN, Taghva Mohammadreza, taghavifard mohammadtaghi. Churn Prediction in Iran Banking Industry Case of a Private Iranian Bank. PUBLIC MANAGEMENT RESEARCHES[Internet]. 2018;11(41 ):57-82. Available from: https://sid.ir/paper/370673/en

IEEE: Copy

MOHSEN ASGARI, Mohammadreza Taghva, and mohammadtaghi taghavifard, “Churn Prediction in Iran Banking Industry Case of a Private Iranian Bank,” PUBLIC MANAGEMENT RESEARCHES, vol. 11, no. 41 , pp. 57–82, 2018, [Online]. Available: https://sid.ir/paper/370673/en

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