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An Integrated approach for Banking GIS
Branch Performance Monitoring
Using GIS Banks can analyze the performance of the banks. Monitoring the Branches performance using spatial component will have a greater advantage. Potential customer zones can be drawn in based on the spatial distribution of the customers. The GIS component of a branch review involves defining a trade area around the branch, measuring the market potential within that trade area, and identifying the nearby competitors. The banks can determine the products that are being purchased by particular socio demographic groups. From that information, banks can determine other areas with similar influences to target specific advertising.
Decision support for Strategic Planning
Banks need decision support while carrying out strategic planning. GIS based solutions help banking industry with What - if” scenarios. GIS based tools examine the interrelationships between land-use factors, infrastructure capacities and proximities (such as railroads, water and wastewater facilities, major highways), and economic growth. This has the potential of increasing the profit margins by allowing the effects of major decisions to be estimated prior to their execution. Former methods were more of a guestimate nature than accurate predictions. What if scenarios provide the means to determine the effects of branch closures, or relocations Furthermore, they allow banks to check the effect different changes would impose upon their markets. For example a bank could determine the extent of lose of clients if the minimum balance of their basic savings account was increased. This is only feasible when the banks have input data regarding their client’s accounts
Bank Asset Management
Modern banks have now various physical assets such as ATMs and other electronic equipment in door as well as outdoors to manage and monitor. Bank management needs to monitor vast amounts of information over an ever-changing inventory of physical assets. From installation to replacement, the condition of an asset throughout its lifecycle needs to be considered in a comprehensive management model in order to maximize the benefits of its services to its customers and users.
Today's environment of limited resources and growing demand means that decision-makers need the ability to weigh multiple scenarios balancing varying levels of investment against asset lifespan. GIS technology includes the analytical tools to perform "what if" analysis and dynamic segmentation to locate multiple classes of assets. The right tools make it possible to operate, maintain, and upgrade physical assets cost-effectively.
This entails that a bank document whether its assets are being maintained at or above a condition level pre-established by the agency. It requires regular inspection for condition assessment and disclosure of infrastructure asset condition no less than every three years. In addition, anticipated and actual maintenance outlays required to maintain minimum asset condition need to be determined and disclosed.
Retail banking services
Banking priorities are being challenged like never before and bank management is looking for innovative and smarter ways to meet the demands of retail banking service delivery. Banks should be positioned to provide solutions that improve the lives of both bank executives and their customers
The future of retail banking is, quite literally, in the customers' hands. Metaphorically, too, they are exercising the power to choose the way they want to carry out their financial affairs. This issues such as managing the technology obsolescence, new customer care initiatives, and higher levels of regulation, is a monster challenge for today's bank executive in an environment increasingly shaped by globalization
Hence banks should adopt innovative methods of automations to deliver the most efficient retail banking services to hold the customers. GIS based solutions help the bank management in achieving these objectives.
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