Pinning Down Bank Customers the High-Tech Way Software Product Offers Convenience of Desktop Mapping

By Bedard, Richard | THE JOURNAL RECORD, August 2, 1996 | Go to article overview

Pinning Down Bank Customers the High-Tech Way Software Product Offers Convenience of Desktop Mapping


Bedard, Richard, THE JOURNAL RECORD


In the old days, after making a loan a banker thumbed a locator pin into a well-worn chamber of commerce street map on the wall. In that clumsy fashion, two disparate pieces of information -- geography and customer base -- came together.

That banker was soon staring at an untidy forest of pins that indicated simply where the bank's money went. The map certainly couldn't easily absorb new bits of information or reveal vital marketing statistics about particular home owners.

In other words, if he wanted to launch an aggressive marketing campaign to increase his loans made and target, say, all home owners on Elm Street who have lived at their residences for more than 15 years, earning at least $50,000, he was out of luck.

Today such detailed searches are possible, with deft clicks of a few computer buttons.

One software product aiming to ease bankers into the information age fast lane is called BankVision. It marries ordinary street maps to databases full of marketing and demographic data from the U.S. Census Bureau and private vendors.

Without getting up out of their seats or having to page through thick reference books, its users can examine the potential customers in a market share area, by neighborhood or individual.

Norman businessman Randy Grissom has been working on selling BankVision. He co-owns Tulsa-based XYZ Mapping, a small start-up company founded in 1992. Its only employees are Grissom and his three partners. They developed BankVision -- now being used by 15 banks in Oklahoma -- as well as other geographic information systems for oil, gas and financial industries.

With BankVision, financial institutions can target their efforts quite precisely, Grissom said.

"You wouldn't want to sell a $100,000 CD into a low-income housing tract," he noted.

At the same time, the software can prevent banks from straying afoul of a host of federal regulations that outlaw such practices as redlining, or discriminating against customers based on where they happen to live. A loan officer using BankVision, Grissom said, doesn't have to ignore a neighborhood, but can focus on reaching the best prospects there.

BankVision is actually a customization of a broad-based application known as ArcView, developed by Environmental Systems Research Institute, a leader in the sales of desktop mapping software. One of Grissom's three partners, Mike Donaldson, designed a special computer code to adapt ArcView for the banking industry.

The original ArcView, released about 1990, entered the market at a pricey $10,000. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Pinning Down Bank Customers the High-Tech Way Software Product Offers Convenience of Desktop Mapping
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.