Should I expand my branch network?
Who and where are my best customers?
Are my current locations of branches optimized for maximum potential?
What markets represent the greatest potential for growth?
These are some of the many questions that our bank clients are looking to answer. As banks expand their footprint or evaluate existing branch locations. SiteTech can provide a deeper level of analysis to make the best site selection decisions. SiteTech analyzes a market area based on actual customer behavior, rather than the number of rooftops or homes based on drive times or mile rings.
Determining the optimal locations of bank branches requires in-depth analysis and a keen understanding of the dynamics driving branch growth. SiteTech provides a three level approach to analyzing bank branch locations.
- First, a comprehensive analysis of competitor location, market share, and growth is conducted to benchmark area banking activity
- Second, an analysis of the bank’s customers is performed by appending lifestyle and demographic information and determining customer profitability
- Finally, an analysis of the market and its various sectors is performed to located the optimal location for the target customer and future growth