Banking is a very competitive business in a personal way, where;
People are more than numbers.
Records in a database, or account codes.
Detailed customer information.
Linking clients to preferences and likely activities.
These days Market share and Brand recognition alone aren't enough to attract and retain customers. Banks can be much more successful in designing products and services that best fit their most customer's needs and Banks are now turning to GIS to help them understand their data better than ever.
GIS can be used in the following areas:
These include, but not limited to, selecting new branch sites, identifying risks associated with closing a branch, executing targeted marketing campaigns, navigating customers to ward their locations, gaining better insights into markets served.
GIS affords the banking industry the ability to know where their customers are, what they buy, how much they spend, and their demographic information. By using this data, banks and financial institutions can identify which financial products and services will best fit their customer’s needs. From this information, they are also able to specifically target portions of their customer base for specialized services.
Enhance your understanding on the availability of resources.
Helps in understanding the Population Growth/decline.
Grow line-of-business collaboration across departments with economic forecasts, neighborhood studies, and territory analysis.
Increase your market understanding based on a single, common view of business performance using geo extended workflow and business processes.
Reduce business complexity through a more accurate analysis of real-world market conditions.
Improve profitability and operational performance by sharing knowledge-based decision making across departments
By utilizing GIS, banks are able to provide the detailed reporting required without dedicating significant time and resources.
Enhance your understanding of risk, customer interaction, and economic conditions using spatial models based on geography and geo demographics.