If you make the argument that your bank’s brand is all about the face-to-face visit and you believe branches are more important than ever, then it makes sense that you should be optimizing your traffic to drive customer engagement and sales. After all, your branch is the most expensive marketing tool you have so to improve bank performance you should be leveraging that traffic. In this article, we look at some experiments we are doing by leveraging data from our customer’s cell phones to boost engagement.
Tag: Branch Analysis
These days, if you want to make tough branch decisions, use a good college student instead of an experienced banker. We will come back to the college student but, in this post, we pitted experienced bankers against the latest branch models against the latest machine learning applications to see which method was more accurate at predicting branch performance. The answers will not only surprise you but what we learned along the way will help improve your thinking about branching, machine learning and the new paradigm of quantitative banking.