Seeing both sides of the equation
Data-driven location intelligence for financial services
By Ali Tahmasebi
A real estate developer was building a new mall and he had offered a site to one of our clients. At face value, the site looked great, but the client wisely wanted us to take a closer look.
We ran the site through our models. It was a great location: Good traffic, low cannibalisation, high potential. There was a problem though: The rent was too high. In fact, it was so high, they wouldn’t break even.
This response took our client by surprise: They were looking for potential demand. We helped them understand potential profitability. Armed with our insights, they were able to negotiate a 40 percent reduction in rent. They opened the new branch, and it was a big success.
At Pitney Bowes, we’ve been analysing and modelling bank customer and demand behavior for 25 years. Over that time, we’ve amassed the most comprehensive demand database in marketplace:
- Over 400 million transaction records
- 115 million customer records
- Attribute survey data for over 45,000 branches
With banking-specific analytical models, rich mapping capabilities and powerful reporting tools, we help banks gain the insight they need to make smarter business decisions.
More than numbers
When you treat clients as partners, you pay more attention to what counts. That’s how we happened to look at the expense side of mall deal, and how we help banks weigh the full impact of new proposals every day. Every new branch is a big decision: Up to $2MM upfront, and a ten-year commitment.
Check out my new video below to get the full story. You’ll see how critical it is to get it right.