Bancography Celebrates Major Award at FinovateFall Event
Bancography Shines at FinovateFall with Best of Show Award
Bancography, a prominent financial services consulting firm, has made a significant mark by winning the prestigious Best of Show award at a recent industry event. This accolade highlights the effectiveness of their innovative software tool, Bancography Plan, which is designed to revolutionize branch planning and decision-making processes for banks and credit unions.
Understanding Bancography Plan and Its Impact
At the event, Steve Reider, the President and co-founder of Bancography, showcased the Bancography Plan. This advanced tool offers comprehensive demographic and competitive reports alongside customer and competitor mapping. It's especially instrumental for bankers as it provides all necessary data points to make informed decisions regarding branch expenses and capital allocation.
Expanding On Decision-Making Capabilities
The software doesn’t just stop at individual branch assessments. It also allows users to investigate potential mergers by evaluating the compatibility of two institutions. It identifies overlapping branches, forecasts likely customer attrition from closed branches, and estimates the financial impacts arising from various expense reduction scenarios. This level of analysis is essential in today's competitive banking environment.
Acknowledgment from Industry Leaders
Greg Palmer, the host of Finovate, congratulated Bancography for their achievement, emphasizing that their selection was based on the quality of their demonstration and the potential impact of their innovation on the industry. The excitement surrounding Bancography Plan reflects a broader enthusiasm for innovative banking solutions.
Competition Among Top Innovators
During the FinovateFall event, Bancography stood out among numerous participants, being honored as one of eight Best of Show winners. They were in great company, with other acclaimed winners including CardLift, Credit Mountain, Delfi Labs, Eko Investments, Illuma, Nest Bank, and Efigence. This year's event featured over 65 short live demonstrations showcasing the latest technology solutions in the financial sector.
The Significance of This Recognition
In response to this achievement, Reider expressed pride in receiving such recognition from peers in the industry. He stated that this accolade underscores the importance of their tools in aiding banks and credit unions in making strategic branching decisions. As a first-time attendee and winner, Bancography is eager to maintain its positive trajectory in the industry.
About Bancography
Bancography specializes in providing branch planning solutions and conducting primary marketing research tailored for financial institutions across the country. Their services encompass custom branch network optimization, utilizing the Bancography Plan software to conduct detailed market analysis and branch planning. Additionally, Bancography’s Branch Network Optimization service offers an extensive evaluation of various regions to create robust long-term strategies for branch openings, closures, relocations, and acquisitions. Their commitment extends to addressing customer experience and brand awareness through dedicated marketing research.
Frequently Asked Questions
What is Bancography Plan?
Bancography Plan is a software tool that provides demographic analysis, competitive reports, customer mapping, and financial projections for banks looking to optimize their branch strategies.
Why did Bancography win the Best of Show award?
Bancography was recognized for the quality of their demo and the potential impact of their innovative solution on the banking industry during the FinovateFall event.
Who are some other winners at FinovateFall?
Other award winners included CardLift, Credit Mountain, and Eko Investments, showcasing a wide range of innovation in financial technology.
What services does Bancography offer?
Bancography offers branch planning solutions, market analysis, and branch network optimization services aiding banks and credit unions across the U.S.
How does Bancography Plan assist in merger evaluations?
The tool evaluates potential merger candidates by identifying overlapping branches, forecasting attrition, and estimating financial impacts.
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