Use geospatial data to understand account holders and improve their customer experience.
Knowing your customers is essential. New paradigms are shaping the financial services industry with mobile banking becoming increasingly important and shifting demographics that will impact how customers interact with their banks. Geospatial solutions can be used to discover new markets and accelerate conversion rates by enriching your data with geodemographics, socio-economic data and consumer spending habits. Find answers to the most important “where” questions: Where are my largest account holders? Where are the best locations for ATMs? Where’s the best routes to my branch?
As a financial institution, finding the best branch locations is key to driving more engagement with account holders. Geospatial solutions help to identify opportunities and available properties for building new branches or closing underperforming ones. Branch locations need to be ideally located, closed, or remodeled depending on the local demographic characteristics; trade areas need to be determined to better understand the total addressable market for your services.
Banks are required to assess their level of compliance with ever-changing regulatory constraints such as Advanced Regulatory Compliance and Anti-Money Laundering accountability. Geospatial solutions can be used for identity resolution and other non-obvious relationships to help you provide compliance data while mitigating risk without disrupting bank profitability. Make sure you meet all mandatory compliance regulations and avoid paying non-compliance fines.
Make your operations more customer-centric. Using geospatial solutions will help you extract customer insights using a variety of demographic, geographic and consumer data. Identify when and how many customers visit physical branch location. Identify services already sold or can be sold to account holders. Target under-served populations where individuals are reaching majority age or live in areas with fewer bank branches. Make data quality a priority.
Providing home loans and understanding how to mitigate risk of non-payment can be challenging. Use geospatial solutions to determine loan exposure and optimize your productivity when preparing commercial or residential mortgages.
Evaluate the true value of properties that you manage more accurately and assess natural hazards for better insights of risk.
Fraud detection and understanding the nature of financial crimes is essential to protect customers. Geospatial solutions help to identify patterns of transaction behavior that might reveal clusters of fraudulent activity.
Connect accounts, people and transactions to detect suspicious activity.
Help prevent malicious practices and protect your organization from the economic consequences of fraud.
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