Why 44% of Accounts Go Inactive in Year One—and How to Fix It
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Why 44% of Accounts Go Inactive in Year One—and How to Fix It
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About this listen
Did you know that nearly half of new accounts—44%—go inactive within the first year? That’s not just lost revenue—it’s a major threat to long-term growth for banks and credit unions.
The culprit? A broken onboarding process.
Too many financial institutions skip relationship-building and jump straight into cross-selling, leaving members and customers disengaged and more likely to churn.
So what’s going wrong—and how can banks and credit unions turn things around?
Our guest, Har Rai Khalsa, CEO & Cofounder of Swaystack, joins hosts Joshua Barclay and Andrew Piron to uncover the biggest onboarding mistakes institutions make—and how to fix them.
We’ll break down practical strategies to engage members from day one, boost retention, and drive long-term loyalty.
If you want to turn new account holders into lifelong members, tune in now and discover the onboarding strategies that make the difference.