Location Intelligence in Financial Services
Optimise branch distribution network and local market analysis.
Optimise branch distribution network: Brick and mortar branches require over multi-million Rands worth of investment per location, and historically can take up to 5 years to reach profitability. Yet, institutions can’t wait 5 years for investments to become profitable. Financial institutions must know the right locations to expand, renovate or consolidate prior to financial investments. This information must include cannibalisation of existing branches, along with impact of existing and upcoming competitors.
Detailed data about local market dynamics and customer demographics can be visualised as you make the branch network distribution decisions. By mapping and overlaying multiple data sets related to a specific location, you can get the insights you need to pinpoint the right branch and ATM distribution / location network for your institution. Financial institutions can easily visual and display branches to clients using online mapping and a "find my branch" locator.
Analysing local markets for targeted marketing: A solid understanding of the marketplace in which a financial institution operates – or would like to operate – is integral to profitable growth. With location intelligence, financial institutions can visualise and analyse critical market characteristics such as concentrations of demographic/lifestyle profiles, product demand and growth characteristics – from consumers, small business and daytime worker populations and more.
These variables can easily be combined with customer data to make more informed decisions and develop effective marketing campaigns for new prospects and current customers. Financial institutions can take the next step to target customers – beyond neighbourhood clusters, demographic segmentations and previous behaviours – to include real-time, real-world opportunities through geo-relevance. Using timely consumer information, financial institutions can present highly relevant offers based on the mobile location of the consumer.
Enterprise-wide single view of risk: To enable institutions to gain a common operational view of risk across their organisation, Pitney Bowes Software provides integrated technologies to accurately identify, assess and monitor risk from branch and assets to individual loans and an aggregated, book-of-business view – all in near-real time. Combining data with geo-spatial and analytical capabilities, our solution provides critical insight for better risk management decisions to help institutions maintain profitability and solvency – during natural and manmade disasters. Our platform provides for an integrated solution that delivers best-in-class geocoding, near real-time analysis of exposed geographic areas and an operational view of risk across the institution. This helps decision makers assess both overall risk and location risk to maintain profitability and solvency.
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