Location intelligence is the key for BFSI businesses to optimize their business operations and enhance their customer satisfaction.

What is Location Intelligence?

Location intelligence is the process of leveraging location data from any event or activity. These events can be consumer behavior, Internet of Things (IoT) data sources, environmental factors, etc. It helps us to see trends and patterns spatially that are impossible to detect with visualization and traditional analytics.

Why do BFSI companies use location intelligence?

To manage their business risks efficiently

To manage their business risks efficiently

Improve their overall customer experience

Improve their overall customer experience

Enhance their data quality

Enhance their data quality

Maximize their operational efficiency

Maximize their operational efficiency

Increase their expansion planning and customer analytics ability

Increase their expansion planning and customer analytics ability

Coordinate their business processes smoothly and effectively

Coordinate their business processes smoothly and effectively

Benefits of location intelligence for the BFSI companies

Prioritize Financial Products and Services

With accurate insights from location intelligence, BFSI companies can develop highly-tailored financial products that are tied to customer demographics. It helps them prioritize service offerings to customers through digital channels and physical outlets.

Prioritize Financial Products and Services
Find market gaps and minimize footprint

Find market gaps and minimize footprint

Helps banks to identify market gaps and underserved markets that can maximize profitability, thereby improving financial performance. Enables banks to reduce footprint thereby increasing market share and maintaining customer loyalty.

Site Selection for Retail Outlets

Provides BFSI companies a complete market understanding that helps them provide the right services at the right time and the right place for everyone. Enables them to find out the retail location that can best serve their customer needs.

Site Selection for Retail Outlets
Effective monitoring of field executives

Effective monitoring of field executives

Enables managers in financial institutions to monitor daily operations of field agents like managing expenses, attendance logs etc. Supports them in making real-time job allocation to the field agent based on numerous parameters like priority, skillset, distance and time.

Fraud detection

Helps banks to find out if any suspicious transactions have occurred in the past and save money spent on customer complaint calls. Enables insurance companies to quickly identify invalid or false addresses and develop a single customer view.

Fraud detection
Determine the volume of financial business

Determine the volume of financial business

Helps BFSI businesses mobilize their resources based on customer demand and improve their market share by making the right location-based decisions.

Insurance covered in risky geographic zones

Enables insurance companies to evaluate likely impacts of the natural calamity within a specific locality. Helps them minimize damage for policyholders, mitigate risk and saves money on indemnification.

Insurance covered in risky geographic zones
Locate Nearby banks and ATM

Locate Nearby banks and ATM

Enables customers to find the fastest route to a nearby bank facility and its directions. Helps banks to perform data-backed analysis and make informed decisions in their daily transactions.

Refilling cash in ATMs

Enables refilling agencies to schedule time for cash refilling based on the security concerns, immediate needs and risk factors in that area. Generates optimal routes that help ATM agencies to refill cash at the right time and right place. Keeps a dynamic real-time track of the entire fleet that has left for refilling and provides on-ground happenings.

Refilling cash in ATMs
Quickly verify and validate customer addresses

Quickly verify and validate customer addresses

Its auto-complete feature provides address suggestions once the customer starts typing the form. Validates and stores addresses in a readymade format in customer-facing platforms for future reference.

Location Intelligence: Home to gamechanger technological developments

The growing demand from customers has created massive momentum for location intelligence in the BFSI industry. It enables them to make informed decisions before rolling out customer-centric products and strategies. Beyond enhancing the quality of customer engagement, it helps BFSI companies understand their inefficiencies in their business network. Know more about how location intelligence benefits BFSI companies.

Location Intelligence: Home to gamechanger technological developments

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How can Locus help manage your logistics?

  • Locus’ proprietary geocoding engine converts the fuzziest of the addresses into precise geographical coordinates thereby helping your on-ground executives locate addresses easily.
  • Digitize all your operational variables such as fleets, delivery persons, etc to come up with the best route plan every day.
  • Track your orders in real-time with the Locus Live Dashboard. Locus’ last-mile delivery app Locus On The Road (LOTR) helps delivery partners process orders.
  • Visualize and tweak your scheduled plans via three key metrics— geography, time, & vehicle(fleet)—with a birds-eye view of your entire operations.
  • Build your own reports and analyze important parameters that you need to make key decisions.

Join Industry Leaders:

$100 M+
Logistics costs reduced
100+ Years
Planning time saved
6300 + Tonnes
GHG emissions reduced

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