GeoMapping Solutions for banking industry

05-Jan-2017
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Geo mapping brings a lot of benefits to different industries including banks industry. Geo mapping is able to help you understand your data well. Besides, F&CS plays an important role to achieve business objectives such as:

  • Expansion of customer base based on marketing campaign.
  • Consistent business growth
  • Increase customer satisfaction
  • To make accurate analysis of real-world to reduce business complexity

Branch locators are one of the more recognized applications of GIS for bank branches these days. But some banks are going further than others in this capacity. The effectiveness of a branch locator depends on several factors:

• The flexibility in how customers can specify locations for searches

• The amount of branch information made available (including photos)

• How current the data is maintained

• The degree to which the look is tailored to the bank’s brand image

• The range of criteria that can be specified for searches (e.g. nearest branch offering X, Y, and Z)

• The visual quality of the maps

• The accuracy of the branch positions

• The proportion of searched locations that are successfully found

• The speed in which information is returned

• The capacity of the system (speed as many customers use it at the same time)

Some banks provide expanded versions of these store locators for internal use across the organization, where much more confidential branch information can be incorporated.

In many ways, the geographic positioning of a bank’s branches and offices in relation to market conditions determines its business potential (the financial performance it should expect accordingly) and F&CS helps banks do this at both the local branch level and at regional levels.

The branches are one of the most expensive assets and as teller transactions continue to decrease, banks need to discover ways to make better use of those branches.

Geo mapping systems allow banks to measure the reach of each branch; understand where their networks may have gaps and where they have excess redundancy. They can define a trade area around the branch and identify its market potential.

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