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Use Location Intelligence to Assess and Manage
Risk in the BFSI Industry

The Top 6 Advantages of Using Location Intelligence for BFSI


Determine Market Gaps and Reduce the Footprint

Discover how demand, supply, and competition affect your company’s profit and success. Location intelligence for the BFSI sector allows you to detect market gaps and underserved markets to enhance profitability.

Reduce the carbon footprint in your bank’s branches to increase market share and client loyalty.

Advance Analytical Prediction

Banks can utilize advanced algorithms to harvest every ounce of data and uncover trends that will assist them in gaining significant insights.

Collect samples and demographic data using location intelligence to estimate future findings. Through consumer segmentation, establish which areas of marketing are most appropriate and identify any gaps in the geo-marketing plan.


Fraud Detection

Identify income, property, and sales tax frauds and detect any unusual patterns in transactions by analyzing distances and times between transactions. Understand customer behavior by mapping their patterns from location intelligence, such as where they live, travel, etc.

Insurance Coverage Based on Risky Geographical Zones

Location intelligence assists insurance companies in determining the likely effects of a natural disaster in certain areas. As a result of predictions and weather analytics, they are able to reduce policyholder harm and save on indemnification costs. Overall, the report assists them in determining the loss and mitigating risks.


Locate Nearby Banks and ATMs

Utilize location intelligence by assisting customers in locating local ATMs, branch timings, products, and services and identifying the quickest route/directions to a local bank facility.

Improve your company’s exposure and drive more traffic to your branch location. While dealing with clients online, location intelligence enhances their entire user experience. It increases revenues by directing clients to appealing offerings and lowering their concerns.

Restocking Cash at ATMs

Use location intelligence to detect heavily inhabited regions and regularly restock ATMs in such locations with cash. Swiftly arrange plans for replenishing currency in zones where transactions are less frequent and plan cash refills depending on security concerns, acute requirements, and danger considerations in the region. 

Location intelligence creates optimal pathways to assist ATM service providers in restocking cash at the appropriate time and location. Keep a dynamic real-time track of the complete fleet that has departed for filling and provide on-ground information.

Want to Know more about location-based business intelligence?

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