3 Steps to Preserve Customer Loyalty through a Delinquency Cycle

It’s at least 5x more expensive to acquire a new customer than to retain an existing customer.

As the layoffs mount in the tech and fintech sector and public financial institutions continue to report upticks in both delinquency and charge-off rates, large and small creditors alike are expecting a bumpy ride to finish out 2022.

Bearing both facts above in mind, creditors should take these three immediate steps to ensure their brand and customer relationships can withstand the delinquency cycle, potentially a chargeoff event, and emerge stronger from the other side.