Payment News

VTB Turns to Advanced Modelling Techniques to Plan its ATM and Branch Network

Russia’s second largest bank, VTB, has been working on tools to identify the optimum location for bank branches and ATMs. It has used a wide range of parameters, over 5,000, to calculate how to reach the most customers and generate the most sales from a new location. Convenience and accessibility, population, proximity to shopping centres and bus, tram and rail stops are part of those calculations. It even factors in known changes in customer behaviour when a branch is being renovated.

Big data, artificial intelligence and machine learning are all part of this story. The bank aims to modernise a third of its retail network, with the goal of having branches within 15 minutes travel time for its retail customers.