For one of India’s largest private sector banks, ICICI, Nathan analyzed the savings behavior of its customers to inform the bank’s strategic decisions for future growth. The objective of the study was to identify the factors that influence customers to hold balances in savings accounts, and assess the effectiveness of non-price mechanisms to attract customers to hold larger balances in such accounts.

Nathan economists collaborated with statisticians from the National Council for Applied Economic Research (NACER) in order to design a survey which would collect data on the demographic, economic, and behavioral profile of the bank’s customers.

Using a sample of 3000 customers spread across 10 different locations in India, Nathan and NACER conducted a pan-India customer survey which was combined with data of each customer’s transaction with the bank to conduct advanced statistical analysis that helped the bank understand why customers hold balances in different types of accounts.