GIS in Finance/Banking Sector
Using geospatial visualization allows banks to gather information and make connections that might be missed by using traditional tables and charts. By using GIS effectively, banks and financial institutions can be more successful in sales and marketing, regulatory compliance, business continuity planning, and service location and site evaluation. Today’s digital maps can enable effective location simple bank ammenities such as ATMs or closest branches to seek services. It goes without doubt that this industry has advanced, the development of intelligent system that detects an authorized user login/activity, based on user location and frequency of access in a geo-location.
Spatial interaction modelling
Spatial interaction (SI) is the process whereby entities at different locations make contacts, demand/supply decisions or locational choices. It captures the patterns of customers in relation to the ammenities that they choose. The entities can be individuals or firms and the choices can include housing, jobs, production quantities, exports, imports, face-to-face contacts, schools, retail centres and activity centres.
Location-Based Authentication and Authorization.
Secuirty of Mobile Banking Apps has advanced beyond the basic authentications mechanisms that rely on use of passwords. Security critical services, such as online banking, now rely on the use of multi-factor authentication solution. Even though these factors are sufficient for most cases, the alternative improvement such as location authentication makes it more secure.
Smartphones have advanced and almost all of them are now equipped with GPS chips that detect user location. Smart phones can be used to detect and send the location of a particular user to back-end servers, which shall verify the location as a factor for authentication and authorization purposes.
We help you with solutions on GIS that help you;
- Sales and Marketing
- Customer Navigation
- Regulatory Compliance
- Business Continuity Planning
- Service Location and Site Evaluation
- Financial GIS, Banking GIS, & Retail Banking Research
Benefits of GIS in Banking Sector:
- Increase in Profitability
- Improving Quality of the Services using GIS
- Expansion of Customer base and managing its database
- Increasing Consumer Satisfaction
- Consistent Business/ financial Growth and expansion