GIS for Banking and Financial Sector
The banking industry is blooming with opportunities these days, the main consumer of core banking services are the retailers and common people. With the banking industry, spatial analysis of customers and customer-centric data is of huge value.
Spatial data of customers can make banking strategy powerful in a lot of ways, be it the competition of banking in a particular region, customer loan distribution in different regions, new bank requirement for a populated branch location, identification of new growth opportunities etc. GIS helps banking and finance industries in the assessment of opportunities and Risk.
Here are a few areas banking industries make use of GIS Data
Data Inventory
Maps can reveal the best location for a new branch to be installed, with the help of data in the maps for the population distribution in a region, commutes nearby, electrical disturbances in a region, political disturbances, usual climate for the region, average annual income of the region, etc. All this data is considered before finalizing a location for a new bank to open.
Targeted Marketing Campaign Enhancements
Using GIS, neighborhoods can be assessed so as to find whether or not a region meets certain criteria, which could be household income, region within 10 km of the radius. Think of a new campaign, rather than mailing a letter randomly to customers in a certain city, one can identify regions that are within a 10-minute drive of the branches and are in neighborhoods with an average annual household income exceeding a certain amount.
Resource Allocation
Rather than waiting for the business to grow and then employ new recruits, which can potentially increase the wait time for a customer and effect business, business growth can be assessed with GIS data in advance and new resource allocation can be done in prior for better customer satisfaction.
We deliver various GIS services meeting different requirements of the banking industry. Get in touch with us at email.
Work Process
