Churn in a fintech business is a financial metric being treated as a product metric and that category error has significant governance consequences.
A one percent improvement in monthly churn in a financial services business at £30m ARR is worth more to the commercial value of that business than a ten percent improvement in new customer acquisition at the same cost level. The arithmetic is not complicated. The allocation of resource, attention, and CFO scrutiny between those two levers in the fintech businesses I look at is consistently and significantly inverted.
Acquisition has a budget line, a team, a set of KPIs reviewed monthly, and clear ownership. Churn is a number that appears in the board pack and generates a discussion about product features or pricing sensitivity. The structural commercial investment in not losing customers is a fraction of the structural commercial investment in acquiring them. That asymmetry is a financial governance question and it belongs on your agenda.
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