Mobile consumers are shaping the future of retail banking. Empowered with mobile devices, consumers are managing personal banking needs faster and more often, including searches for offline branches. To succeed with mobile consumers conducting “near me” searches for service, retail banks need to be present with relevant answers in those moments of discovery or lose. The good news is that SIM Partners has published The Retail Banking Guide to Location Data Management to help retail banks win with the mobile consumer.
As we discuss in our new ebook, retail banks need to work harder to drive traffic to their branches for the high-touch, high-reward consulting services such as wealth management that begin with mobile searches for help. The key for banks to be present during those searches is to be findable — through accurate location data at the branch level, such as a bank’s name, address, and phone number.
But retail banks don’t have it easy managing their location data. A retail bank must ensure that all services of each branch — such as mortgage loans, home equity loans, wealth management, and account management — are findable when consumers conduct near me searches. And retail banks need to make sure all their ATMs are findable whether they exist at branches or at nonbanking locations such as grocery stores and airports. The Retail Banking Guide to Location Data Management shares tips for how retail banks can organize data properly so that consumers can find precisely what they want when they want it, at the branch and nonbranch level.
SIM Partners believes that only banks that understand how to manage location data as a precious asset — kept accurate and scalable across the mobile ecosystem — will succeed with mobile consumers. Read our new ebook to learn more.