GIS Solutions for Nigerian Banks
A bank’s primary function is to deliver financial services and products to the customers. Banks, in the Nigeria of today, are market driven and market responsive. The success of such an institution depends on its approach to data management, customer relation management. Banks manage a world of information about customers, customer profiles and so much more. The banking industry in Nigeria is undergoing serious reforms that had given rise to consolidations and phenomenal growth especially in the last two years.
The players in this industry are using cut edge technology that will give them the needed leverage in the already excited industry. By adding a spatial component called “Location” to their database, banks in Nigeria can gain enormous advantage in many ways. Long range planning mixed with geographic modeling will yield tangible benefits to the Banking /Financial institutions community.
Specific Areas of GIS Application in the Banking Industry
- Strategic Decision making & planning,
- Effective resource management Analysis
- Branch & ATM Locating Analysis
- Competition Analysis
- Business Growth
- Customer Relation Management
From new branch location to profiling customers, analysing competitor activity to predicting market trends, the geographic data underpinning your analysis has to be definitive to give you a full understanding of your business environment and make more informed decisions.
While analyzing factors affecting the location of a new branch, it is always necessary to assess the likely performance of new branches/ATMs based on the presence of key decision variables, such as concentration of commercial areas, traffic patterns, workplace or homes of customers whose demographics and purchase behavior match a bank’s target customer profile.
STL’s geographic data is a valuable asset to the Nigerian financial industry, adding a real-world context to customer statistics and demographic data. This helps our clients in the banking sector of the economy to obtain a definitive picture of who their customers are, where they live, what they want and when they want it. Fully understanding the context of their customer base facilitates more intelligent marketing activity, resulting in a greater return on investment.
The key to making profitable business decisions is the capacity to successfully predict customer behavior, identify potential markets and pinpoint where market share is likely to grow. By understanding your customers’ locations and needs, you can boost your analysis, planning, logistics and operations, vital for increasing revenue and profits.
In today’s highly competitive business environment, marketing is a customer-orientated operation that is essential for business success of any bank.
In general, marketing is a question of demand (customers) and supply (Financial products, Financial services, Customer services through branches and ATMs). Both demand and supply are easy to pinpoint to a geographical location. Therefore, these factors are interesting to analyze with the help of a GIS.
STL has the location of several banks and their branches in Lagos, Abuja, Ibadan, Onitsha Aba and Porthacourt, Kano, Kaduna, Owerri, Warri, etc.
We can undertake a map-based comparative analysis showing the branch coverage of one bank compared to the other.
This makes STL the most comprehensive map solution provider for the financial sector in Nigeria
The geographic implications of the products, services and customers of a financial institution are enormous. GIS is the Answer.
Granted a number of transactions that could only be done inside the banking halls some years ago in Nigeria are now done from ATMs or online banking. Nigerian banks however still conscious of the fact that realized that their customers have legitimate reasons to visit their nearest branches to transact one business or the other hence the decision to provide information about their branch network on their websites. The question is, how useful are the online branch finders dotting the websites of most Nigerian banks?
STL had developed LagosLocation.com -an online interactive map-based bank branch locators for Lagos. This portal contains over 1,200 branches of different banks located in Lagos. branches are searchable using suburb e.g. Shomolu and be displayed on an interactive street map of Lagos.
Searching for banks and their branches in Shomolu -Lagos
Case study
Click here to see how STL is assisting UBA PLC -Nigeria’s largest financial institution to leverage on the compelling power of geography in making informed decisions for its N9.2Billion branch expansion project
STL’s Professional services
Each of the analyses above can be provided as either a consultancy service or can be performed in-house using MapInfo Professional software –a professional mapping and business making tool based on the visual power of GIS and map.
GIS Consultancy Services
For those companies that would prefer to out-source either a single GIS project or a long-term strategic venture, STL can help. STL can either carry out project-based consultancy assignments or second staff to a clients' premises to work on-sites. Projects are typically bespoke and tailored to each client's commercial requirements.
In-House Empowerment GIS
STL empowers its customers to perform their own market analyses and modelling if they have the in-house resource and skill to do so. A professional off-the-shelve GIS and mapping software is provided on license as a desktop application. Unlimited training and a team of dedicated technical helpline is also provided.