The Financial Brand Insights - Fall 2022

By The Redmond Company

SOLVING THE LOCATION EQUATION: Improving Branch Growth and Profits With Prescriptive Consumer Analytics

The right location has the potential to significantly boost a financial institution’s long-term performance, financial growth and success. Even more important, a poor location can cost millions of dollars in misspent resources and future business opportunities. Financial institutions that leverage advanced data analytics as part of their branch deployment strategy gain a competitive advantage when making critical business decisions, such as: • Where should my branches be located and why? • Are my existing branches properly positioned to maximize growth and profitability? • What is the gross profit of each branch? • What size and type of branch can a particular Market support? Is a microbranch, small footprint or a full-service branch best? • Depending on the demographics, psychographics, Market conditions and customer/member profiles, what services should the branch provide? • Should I consider a “hub-and-spoke” approach to my branch network, or is a “thin line” strategy more appropriate?

Turning Data Into Guidance: This data-driven approach takes what we know, predicts what could happen and provides recommendations for moving forward.

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THE FINANCIAL BRAND INSIGHTS FALL 2022

THE FINANCIAL BRAND INSIGHTS FALL 2022

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