Drive Time Maps
Today sophisticated computer mapping technology can create "Drive Time" maps that depict the area around a branch measured in terms of the time to drive to the location. This allows for mapping the practical service area of bank branches as determined by how much time it would take for people living in the area to visit the branch if using an auto to commute to the branch.
Drive time maps can help determine the community impact of a branch closing by identifying the consumers who would be affected by the branch closing. Drive time maps can help when evaluating potential branch locations too. In addition to "seeing" the practical service area for any branch location Drive Time maps can (1) identify competitor branch locations within the branch service area as well as (2) determine critical population demographics within the area.
We invite you to discuss this exciting new mapping application to help your bank determine the most ideal locations for your new branches or to study the community impact of a potential branch closing.