Geolocation Analytics for Banks – Location based analytics

Location Analytics:

In every aspect of moving around the nooks & corner of any country, maps play an important part for any individual or any organization. The usage of location maps is across transportation – From B2C to B2B i.e. Consumers, Private drivers, Taxi operators, Transport & Logistics cos, Food tech cos, Any delivery business etc. Hence usage of the maps through integration and analytics becomes very important.

While there are multiple map providers, Google maps have the majority share. To further simplify the location process and integrate the API solution or embed in your business or Application is most important after addressing certain machine learning interventions.

Use case of Location Analytics in Banking context:

Banking transactions have become a phenomenon in our day-to-day activities as everyone needs to be connected to the bank branches and also do cash withdrawals from ATMs. When we need cash in any unknown area or during any emergency situation, we need to know about the nearest Branches and ATMs from where we can avail of this opportunity. Banks have multiple branches and ATMs across the nooks and corners of the country. While there are multiple bank branches and ATMs across geographies it is important for any customer to primarily deal with its own bank and it is not good enough if there is no way to find out its location when it is required. In addition, a tourist or newcomer may face difficulty in having ATM help without this information. Hence some of the use cases could be listed as:

1. Branch distance & identification from any location for customer usage
2. ATM finder from any location for customer usage
3. Pin code mapping to branches
4. Mapping Branch customers to RMs based on location

Solution:

Considering the above Problem, we provide our product Geolocator which is essentially a location based analytics solution using third party APIs. These APIs fetch location of the nearest branch and ATMs. Geolocator plays an important role in providing the number of nearest branches i.e. location-based services e.g. location, and navigation help. Using every branch location, it is provided to access the nearest branch and fast track the travel process of customers. Based on the given Pincode we calculate the latitude and longitude and store the values in a database which is MongoDB in our case.

Geolocation Process:

Our process contains two processes namely Geocoding and Geolocating. In Geocoding we obtain all pin codes of India from a trusted source and for this purpose we use open source technologies and Google Maps API to geocode all the pincode. In Geolocating we calculate the road distance between each bank location and each pin code using a formula and shortlist the top and nearest branch and ATM locations for each pincode. We calculate road distance based on latitude and longitude. When we calculate the road distance we apply some filters for example we exclude the ferry route because sometimes that type of route map is closed due to some reason.

Output:

Based on this process above, we provide the nearest 3-6 branches and ATMs based on the given Pincode where the customer is currently situated. The solution is productified as an API integrated with Banks’ websites, mobile applications, etc. We also provide it as an automated excel solution where banks branches and relationship managers also use it for location and mapping the customers in their overall customer list. Hence Geolocation analytics provide multiple use cases for banks to use and explore in the Banking world.

Follow

• 
• 
•