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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.
This post is from a series of posts in the group:
A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.
Miriam Ballesteros González