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Delivering Local Convenience Proactively with Location Intelligence

Location intelligence is a technology financial institutions should consider to fully utilise available location information and data to make better business decisions. It is also a tool that enables organizations to engage meaningful insight by harnessing the power of location to solve business problems, deliver location-based services or manage assets.

Previously, in the ‘geo-relevance’ feature, we highlighted that location intelligence helps retail banks pinpoint opportunities based on real-world shopping behaviour. Convenience still ranks as the most important factor among consumers, especially in day-to-day banking services, as technology today enables institutions to timely and relevantly use consumer information that can be accessed through commonly used applications, such as popular social media applications.

Banks often look at location convenience and retail deployment in the context of a single mailing address, which is no longer the case today as people move away from mailing services and move towards digital forms of communication. Delivering local convenience proactively allows institutions to plan for network expansion, future acquisitions and ongoing investments based on where consumers are (i.e. home, office, travelling within the country, or travelling abroad).

When banks proactively contact consumers and let them know the location of the nearest branch, ATM or service centre, they demonstrate an understanding of what customers want and need the most through convenience.

With location intelligence, banks can benefit from building an uncommunicable understanding with customers, especially now that technology is becoming more consumer centred. The proliferation of smartphone devices, mobile banking and new geo-relevant technologies will amplify the role of location intelligence in the future as other institutions see its effectiveness in creating happy, satisfied customers.

In this case, location intelligence has advanced the technology behind services in many ways, including customer navigation and driving directions, site selection for new and relocated branches, branch network optimisation, market profiling, merger and acquisition evaluation, as well as customer profiling and/or geo-demographic appends.

Accelteam has been actively working with customers from the various technology industries driving business improvements using geocoding and location intelligence. With the aim to promote the customer-centric location application technology, Accelteam has the right solution to help customers gain an advantage over existing competition.

In fact, for the past two decades, AccelTeam has been one of the leaders in providing location intelligence in this region. If you would like to learn more about the IoM or Information on Map, please reach out to us at info@accelteam.com.