Banks are under pressure to deliver measurable results from CRA lending initiatives. Geospatial analytics, when paired with AI, offers a path to 10x ROI by identifying and prioritizing lending opportunities in the communities that need it most.
Did You Know?
Data from the Federal Reserve shows that 43% of CRA-eligible tracts are significantly underserved by traditional banking services. These tracts are often missed due to the limitations of manual data processing. However, banks using geospatial analytics to target these areas have reported a 15% higher loan closure rate within the first year.
Opportunity to Monetize:
PathFinder’s geospatial insights allow banks to take a proactive approach to CRA lending by identifying underserved communities with high demand for loans. This precision helps allocate resources more efficiently, increasing the likelihood of loan approvals and reducing customer acquisition costs.
Furthermore, these data-driven insights can also help identify cross-selling opportunities, including personal loans, auto loans, and small business products, all of which are in demand in CRA-eligible communities.
Monetization Insight: Banks leveraging geospatial analytics in CRA lending report a 10x ROI, with additional revenue streams from cross-sell opportunities in underserved communities.