Data Visualisation In Finance & Banking Industry Customer Contentment


“The secret is spilled out – 

Offer and perform in a way that they not only want to consume it again but also want to bring along their friends and fellas to experience it too.”

Today, no industry is untouched by the dominance of Data Visualisation, and the Finance industry is too braved to ride in the waves of this technology. The gap between customer satisfaction and customer retention has widened and brought in the light of the sun.

Finance industries no longer get expected benefits from generic points and rewards or general one-time offers. It is more about offering a personalized experience and proposal to ensure the new generation not just trusts you on transactions but stays with you. 

Data Visualisation and Customer Retention

Data Visualisation and Customer Retention | Iqonic Design

As customer retention refers to actions and strategies a business uses to keep their existing customers, advanced customer retention analytics with clear metrics of your customers is inevitable. Fortunately, we are in the dawn of Data Visualization In Finance & Banking which makes churning of monstrous-sized data snarling everywhere in any format.

“An alarming data of this time and age states – an average, well-established Bank loses a staggering 35-40% of its customers annually, because of failure in building customer loyalty.”

Leveraging Data Visualisation to Analyse Customer Retention for a Financial Bank

Leveraging Data Visualization In Finance & Banking | Iqonic Design

Extracting information from uncertain data is one of the most horrifying situations for leaders and decision-makers in a bank or a financial institution. With Data Visualization technology and tools, it becomes extremely streamlined saving cost and time to retain the customer base. 

We will divulge into a situation of a popular and highly trusted bank that has seen a decline in customer base over the last 5 years and wants how data visualization can help overcome this customer churn with factual reports and metrics.


Get insights into age-wise customer trends for a Bank with the help of data collected from different forms of information over the last 5 years and increase customer loyalty and retention in the next quarter. 


The machine-generated data produced records of around 3 lakhs of customer base for 5 years. The sources of collected data are Transactions, Log data, Events, Emails, Social Media, Sensors, External feeds, RFID scans or POS data, Free-form text, Audio, and images/videos within the bank’s information system. It looks backbreaking to make sense of the data since these were simply collected data and never analyzed. 


As it is much cheaper to keep an existing customer than to earn a new one, a strategy devised to keep the new-age customers with a bank brand is possible with Data Visualization In Finance & Banking optimized customer loyalty reports. Using a data visualization tool, the data of customer demographics, age groups, professions, etc can be stacked on graphs and charts.

  • Building metrics of KPIs using data visualization tools can help you measure the performance of campaigns and offers using Data visualization tools. Using line graphs by situating data on both axes to find the relationship between age group and retention rate over 5 years, a Pie chart to get a pop of demographics. Heat map to account KPIs, and so on, a complete customer loyalty report can help show a bigger and clearer picture to decision-makers and bank managers to build a successful customer retention strategy. 


  • The datasets of most financial banks are often too large for any decision-maker or financial expert to analyze with traditional reporting and data mining processes. Here comes the hero technology called Data Visualisation.
  • The technology can brilliantly interpret and understand the sentiment, stand, and interaction of customers when presented in a visual context using Data visualization tools. The result of the case suggests that a unified representation of customers’ responses and intent towards a bank explained in a dashboard or business report makes more sense instantly and helps formulate customer retention strategies.

Key Takeaway and Recommendation:

As a data-driven customer retention strategy can yield the cherry on your cake in the most appetizing way, Data visualization tools can drive more profit. As the 2022 research on banks and financial institutes suggests a team that extensively uses customer data analytics in reports, sees a profit of 126% profit from repeat/loyal customers. 

This gives us enough reason to recommend a tool that is simple to use, yet powerful enough to accommodate a prodigious amount of data. To boil down the customer churn rate with better decision-making using metrics, graphs, and charts, we introduced Graphina – a WordPress charts and graphs plugin for WordPress sites. Powered with real-time, dynamic, and customizable pre-designed charts and graphs, this highly planned and functional plugin makes data visualization coherent and easily adaptable.

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Sagar Soni
Sagar Soni

Sagar is a Content Head, Writer, and creative thinker at Iqonic Design. He often deals with multiple tasks at same time. Well! He is all rounder in Writing skills. And whenever you do not find him writing he is either studying about his counselling psychology or often exploring new places and goofing around with ambition achieving friends and plan on making new money moves.

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