Location intelligence use cases for BFSI
Let’s take a look at the top use cases for location intelligence in the BFSI industry.
1) Optimize customer offering
Read more: Top 9 location intelligence use cases
2) Real-time tracking of field executives
One of the critical challenges of BFSI companies is to manage a large field workforce. A field force automation software helps bank managers keep track of their field agents’ daily activities, including visiting customers, maintaining attendance logs, managing expenses, and more. Field executives can submit proof of visits, record job completion, and even take customer feedback. The software allows real-time job allocation of the agent, based on various parameters like skillset, priority, distance, and time.
3) Site selection
LI helps banks and financial institutions better understand the profiles and advantages of a location compared to other locations. They can leverage location data to analyze a specific area and measure its potential over the other and get a more in-depth picture of its customers. The business intelligence helps them decide about the next location for opening a bank branch or a new ATM. Banks can even staff the branch accordingly and determine realistic sales and profitability targets.