Where Should an Institution Add Branches?
As prime site locations become more and more difficult to find, institutions need to utilize proactive measures that allow them to specifically target towns and markets that match their strategic branching objectives, and offer branching potential. Acting in a proactive manner, rather than reacting to changes in the market or site availability, results in a more efficient and effective branching strategy.
Customizable Market Data
As such, FinPro's Market Ranking Study utilizes market, commercial and competitive data to analyze and rank a group of markets based on a customizable set of criteria defined and established by the institution. In fact, FinPro has developed an extensive library of databases which provide the required foundation for the development of a detailed market profile encompassing all aspects of the marketplace.
Proven Methodology
FinPro's Market Ranking Study includes:
- Development of an optimal market profile specific to the institution.
- Analysis of each market and how well it fits the optimal market profile based on:
- Demographic Data
- Retail Customer Segmentation Data
- Retail Product Propensity Data
- Business / Commercial Data
- Competitive Data
- Analysis of the institution's existing customer base and how it may influence branching strategies.
- Identification of top quartile markets that fit with the institution's strategy and offer de novo branching potential.
- Tour of the top five markets, as selected by the bank, to identify trends and establish future growth potential.
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