A Predictive Analytics Framework for Customer Retention in African Retail Banking Sectors

• Author(s): Okeoghene Elebe ; Chikaome Chimara Imediegwu
• Paper ID: 1709610
• Page: 299-312
• Published Date: 31-01-2020
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 3 Issue 7 January-2020

Abstract

Customer retention remains a critical success factor for retail banks in Africa, where rapid digitization, increasing competition, and shifting customer expectations pose new challenges to traditional loyalty strategies. This review explores the integration of predictive analytics as a transformative approach to enhancing customer retention in African retail banking. The paper examines current trends, data sources, and modeling techniques used in predictive analytics, such as machine learning algorithms, behavioral segmentation, and churn prediction models. Drawing insights from both global and regional literature, it evaluates how African banks can leverage transactional data, customer feedback, and demographic indicators to forecast attrition and proactively intervene. The review also highlights the infrastructural, regulatory, and ethical considerations unique to African markets that influence the adoption of predictive systems. Ultimately, the paper proposes a comprehensive predictive analytics framework tailored to the African context—aimed at improving customer satisfaction, reducing churn, and driving sustained financial inclusion. This framework aligns technological innovation with strategic customer relationship management, positioning African banks for improved profitability and competitive advantage.

Keywords

Predictive Analytics, Customer Retention, Retail Banking, Churn Prediction, African Financial Sector, Machine Learning in Banking.

Citations

IRE Journals:
Okeoghene Elebe , Chikaome Chimara Imediegwu "A Predictive Analytics Framework for Customer Retention in African Retail Banking Sectors" Iconic Research And Engineering Journals Volume 3 Issue 7 2020 Page 299-312

IEEE:
Okeoghene Elebe , Chikaome Chimara Imediegwu "A Predictive Analytics Framework for Customer Retention in African Retail Banking Sectors" Iconic Research And Engineering Journals, 3(7)