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Knowing what your account holders and community members are doing is essential to building future financial institution strategy. How can an advanced branch and ATM locator on your website and your mobile application help your bank or credit union provide the information you need to make more informed decisions?

Where are people looking for your financial institution? An advanced branch and ATM locator can gather all the data you need to see what cities, zip codes, and geographical areas your current and potential account holders are looking to access in-person and self-service account services.

What are people searching for? Are they looking for ATMs or ITMs? Do they want to find a nearby branch? Where are they looking to make deposits? How often are they searching specifically for surcharge-free?

When are consumers looking for your services? Many financial institutions are discovering their target audience are searching for financial services outside of standard banking hours. But is this trend affecting current and potential account holders in your communities? A branch and ATM locator like Wave 2 can help your institution see when people are searching for your institution’s locations and services.

 Knowing what your account holders and community members are doing is essential to building an effective strategy for your financial institution. Fortunately, there is an easy way to gather a wealth of this information. An advanced branch and ATM locator on your website and mobile app can provide invaluable insights to help your bank or credit union make more informed decisions about serving customers.

Where Are People Looking for Your Financial Institution?

An advanced locator solution gathers data on what cities, zip codes, and geographical areas your current and potential members or customers are searching to access branches, ATMs, and other services. This location intelligence is key to understanding your footprint and demand.

Are people primarily looking for your financial institution near your existing branches and ATMs? Or are there opportunities to better serve underrepresented areas? The location data can reveal neighborhoods where opening a new branch or placing more ATMs could allow you to tap into an underserved market.

What Services Are They Searching For?

Beyond location data, an advanced locator captures what specific services consumers are searching for at your financial institution. Are they predominantly looking for ATMs, ITMs (interactive teller machines), or full-service branches? Do they want locations that can handle specialized services like safe deposit boxes or commercial banking? 

This breadth of data allows you to ensure you have the right mix of capabilities at each location and helps you plan for expansion of services where they are needed. If there is high demand for ATM services in an area served by a full-service branch, you may want to consider installing off-premise ATMs nearby. Or if there’s demand for ITMs with extended hours, you could look at repositioning your ITM network.

Wave2 Locator Tracking and Reporting Data Visualization

When Are They Searching?

Speaking of extended hours, many financial institutions are seeing consumers looking for banking services outside of traditional banking hours. Some banks and credit unions are extending their hours to meet demand while people increasingly search for and use ATMs and ITMs in the evening and on weekends when it’s more convenient for them.

But achieving a true picture of demand requires analyzing data at a localized level. An advanced locator captures when consumers are searching for locations and services in each of your markets. This data can reveal pockets that over or under index for non-traditional banking hours – letting you know where you should consider adjusting hours or service offerings to meet needs.

And by combining search data with transactions at each endpoint, you can map consumer demands to behavior. If people are searching for a location on Saturdays but not actually visiting or conducting transactions, it may indicate a need to raise awareness or make hours more convenient.

Understand Convenience Priorities

For many consumers, finding the closest location is the top priority. But others may prioritize different convenience factors like drive-through availability, family service capabilities, or surcharge-free ATMs.

An advanced locator is capable of reporting which filters and preferences consumers are using in their searches. This allows you to tailor service offerings, optimize fees, and prioritize different accessibility factors based on the unique needs of each local market.

Turn Data Into Action

While simply having data is valuable, the key is using those insights to guide consumer experience improvements. A powerful locator solution makes it easy to visualize and analyze data – spotting trends, running reports, and putting insights into action.

With a constant pulse on how, when, and where consumers want to access your financial institution, you can confidently make strategic decisions about:

  • Where to invest in new branches and ATMs
  • Which services to offer at each endpoint
  • Optimal hours of operation in each market
  • How to design convenient experiences
  • Marketing tactics to drive awareness

The more your offerings and experiences align with what consumers want in each of your markets, the better you can attract, serve, and retain business. An advanced branch and ATM locator is the cornerstone for achieving that coveted understanding of customer needs.

Discover how the Wave 2 branch and ATM locator can help you gather consumer use data and much more.  Contact Us Today!

Wave2 Contact:
Jason Green, Co-Founder
Schedule a Demonstration & Discussion