24 November 2017

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Retired Member

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Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

DIGITAL BANKING Tips - Tip 10: Location Based Services and Digital Banking

18 May 2015  |  7458 views  |  0

When the "Location Based Services (LBS)" and "Banking" terms meet, usually the very first thing come to mind is Branch / ATM finders in the web sites. Actually LBS have much more potential than this for digital banking, especially when the mobile devices involved into the party.  

"Knowing where the customer" is a very powerful information if used well. Some of the potential benefits LBS might bring to the banking are context based marketing, capturing client’s behavioral data, increasing security and providing a base for Value Added Service for SME (small & medium Enterprise) companies - who are bank's business customers too.  

This is the short version of the post. 

Starting from Tip 2 to Tip 30 only short versions of my posts are available at Finextra. From Tip 31, full (long) versions of my posts can be read here.

 

 

TagsMobile & onlineRetail banking

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