Large North American bank uses Precisely location-based data and analytics for branch transformation and sales growth
The efficiency of a bank’s branch network can have a significant impact on the institution’s performance. That’s why one of North America’s largest banks has deployed Precisely data technologies, demographic, and financial services datasets, and analytical solutions to help transform its business. The project has improved decision-making related to changes in branch placement and format, identified untapped revenue opportunities, and increased Location and Business Intelligence capabilities across the organization.
The bank’s retail distribution group is responsible for recommending where to open new branches, which branches to close, and which to renovate. Previously, they made these decisions on a one-off basis, with little analysis of how the decisions would impact the overall business. Additionally, the retail distribution group considers the optimal product mix for each location, identifies opportunities to increase sales and provides Business Intelligence to other internal groups.