Apr 22, 2015
Nov 10, 2023
Optimising Branch Locations Using Data
We teamed up with one of New Zealand's top banking institutions.
With over 1.3 million Kiwis banking with them, they wanted to make sure their branches were in the right places to serve everyone.
The Challenge
In an ever-changing banking landscape, branch location analytics takes center stage.
As online banking surged, the bank sought insights on how to best realign their branch and ATM locations. Their strategy focused on meeting the shifting needs of customers by optimizing some branches and contemplating the repositioning or shutdown of others.
Our Approach
- Engagement & Understanding: Our journey began with in-depth discussions with the bank's internal experts. This helped us grasp their current setup and their aspirations for the future.
- Data Analysis: We jumped straight into the bank's data, examining factors like customer locations, branch visit frequency, and transaction patterns. We also added in some external data, like information about customer demographics and wealth. This analysis helped us to understand the behaviour and needs of their customers.
- Smart Planning with a Touch of AI: Using the data, we made a plan that suggests where branches and ATMs should be. This plan used some advanced tech tricks, but the main goal was to make smart choices for the bank.
- Implementation & Support: After sharing our findings, the bank's team reviewed all our recommendations. With their green light, they started the transformation. Throughout this phase, we offered our unwavering support, ensuring the changes were seamless.
The Outcome
By tapping into location analytics and data insights, the bank now possesses a refined strategy for branch and ATM placements.
This fresh approach ensures they're perfectly positioned to serve their customers in this increasingly digital era.
Key Client Benefits
Streamlined Operations
Harnessing location analytics led the bank to make intelligent operational decisions. This not only brought about cost savings but also enhanced the overall efficiency and service delivery.
Customer-First Approach
Our strategy ensured branches and ATMs are right where customers need them most. This strategic placement enhances convenience, making banking more accessible for every Kiwi.
Data-Driven Transition
With our detailed analytics, the bank had a clear roadmap for change. This guidance ensured that every adjustment was made with confidence, minimising potential roadblocks, and ensuring smooth transitions.
Embracing Digital Transformation
As more and more people shift to online banking, our work with branch locations was a pivotal step for the bank to adapt and move forward in this digital era.
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