Banks and financial institutions are incorporating geofencing solutions to enhance the customer experience and services. With its ability to provide additional security for fraud prevention and improve the customer relationship, geofencing can significantly improve the customer satisfaction and revenue. With the help of the geofencing technology, banks can locate eCommerce customers via their IP address and send contextually relevant content, such as special credit offers, merchant promotions, loyalty programs, and information about working hours. By setting up geofences around the bank branches, banks can identify the High Net Worth Individual (HNWI) customers when they are onsite and ensure they are given the appropriate level of service. Some financial companies are exploring the possibilities of partnering with geofencing merchants. The various applications of geofencing in the BFSI industry include customer tracking and fraud prevention, and marketing and promotions.

Frequently Asked Questions


  • The Indoor Remote Triggered Location Scanning application lets Apple locate an iPhone user inside a building, with the help of preset nodes or iBeacons that can detect the location of a device. To locate an iPhone user indoors, the system would assess the signal strength from 3 nearby permanent nodes and determine the approximate distance to each one, and thus establish the location of a device using triangulation.

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    • Enterprise
    • California, USA
    • Founded: 1976
    • More than $100 BN
    • 1,00,001 to 5,00,000
  • ESRI Geofencing software enables organizations to discover, use, make, and share maps from any device, anywhere, at any time. Moreover, it provides contextual tools for mapping and spatial reasoning for enterprises to explore the data and share location-based insights. ArcGIS offers a unique set of capabilities for applying location-based analysis to business practices. ArcGIS Online allows businesses to connect people, locations, and data using interactive maps. It also supports data visualization, advanced analysis and authoritative data maintenance in 2D and 3D.

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    • Enterprise
    • California, US
    • Founded: 1969
    • $1BN to $5BN
    • 1,001 to 5,000
  • GPSWOX has developed tracking software that comes equipped with built-in batteries that need to be charged only once every few months. The tracker uses a sim card to access the GPS location and can be disguised as a regular watch or hung around the neck. The company has designed devices that can automatically connect to the vehicle tracking software. GPSWOX has also developed its very own SMS gateway system, which sends SMS alerts from the user’s tracking server directly to the phone. This adds another level of accessibility when the user cannot access the internet. Its tracking software is compatible with over 300 trackers’ brands with a modern interface. Any type of tracker is compatible with this server, and a user can customize the interface with his/her own brand logo. 

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    • Enterprise
    • London, UK
    • Founded: 2014
    • 501 to 1,000
  • Bluedot’s advanced conditioning engine, clients can reach their target audience based on demographics or past behaviors at an unlimited number of locations, without any additional hardware. The company’s actionable insights help clients in identifying the engagement of customers with their campaigns, and then use those insights to build smarter campaigns and accurately track the attribution. Bluedot SDK allows smartphones and tablets to respond when they pass through pre-defined, precise locations (up to 5 meters) by triggering a range of pre-built actions, including opening websites, sending messages, and playing tones.

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    • Enterprise
    • 501 to 1,000
  • The company offers the facility of setting up multiple geofences, along with targeting features, to trigger advertisements for the desired customer base. Moreover, it provides reports to the marketers about the performance of their campaign, including the impressions, Click-through Rate (CTR), and other such useful information. It helps organizations to : Create geofences at events, airports/hotels, or even around their competitors; Target potential customers based on their demographics, hobbies and interests. 

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    • Enterprise
    • Charlotte, North Carolina, US
    • Founded: 2012
    • 51 to 100
  • Mapcite provides fixed and mobile geofencing, where a fixed geofence refers to a virtual fence around an object, building, or thing, and the mobile geofence means a dynamic geofence that is built into a mobile device and moves with the user. These geofences provide businesses with information regarding the entry or exit from a location of an object or a thing, the total time spent in that location, and notify the user about intrusions in sensitive areas. The company provides these services for Android as well as iOS mobile devices.

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    • Enterprise
    • 501 to 1,000
  • LocationSmart’s Smart Zone geofencing services deliver propinquity insights necessary for the daily activities. It provides services from fetching devices to tracking product shipments halfway around the world and more. LocationSmart's geofencing technology’s power and accuracy will provide the organisation an opportunity to open the doors to targeted engagement opportunities.

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    • Enterprise
    • 501 to 1,000
  • By deploying Pulsate's Proximity based geofence solution, the push notifications typically gain a 30-50% higher open rate than regular push notifications. The solution helps businesses to track how often theirs customers visit a competitor location and send winback campaigns to attract them back. The other striking features offered by the solution are: Radial Geofences, that allow users to instantly add radial geofences around any location; Polygonal Geofences, that helps professionals to monitor buildings and locations of any size with custom geofence shapes etc.

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    • Enterprise
    • 501 to 1,000
  • A geo fence allows the administrator to keep an eye on the devices and can track where the device is. EMBITEL Mobility analyze the current business scenario and suggests best geofencing solutions that can drive performance, improve the production efficiency and provide a huge variety of personalized experiences to users through its 3D objects and many more.

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    • Enterprise
    • Bangalore, Karnataka, India
    • Founded: 2006
    • $5BN to $10BN
    • 101 to 500
  • Maven Systems provides Geofencing solutions in form of GPS based location tracking. Maven Systems M2M Solution – GPS based location tracking uses software filtering algorithms to work on raw values obtained from the GPS Modules and provide the most accurate location data.

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    • Enterprise
    • 501 to 1,000
  • Succorfish’s asset tracking platform permits customers to precisely monitor and connect with all mobile assets from one central hub. The platform provides an all encompassing ATS and a communication channel (2 way) from which it records, analyse and extract real time data from the personnel and tactical assets. Succorfish Geofencing solution has the ability to define a virtual perimeter for a real-world geographic area. The breaking of a Succorfish geofence perimeter alerts that indicates that an asset is deviating from a predefined route. 

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    • Enterprise
    • Carlsbad, California, US
    • 501 to 1,000
  • Plot Project's geofencing mobile marketing software depends on multiple location services. It functions even when the app is in background mode or it has been actively killed. The accuracy of their plugin is about 10 meters, which makes it highly accurate. It can be easily integrated into the organization's app and mobile marketing campaigns can be run instantly to target the app users anywhere across the globe. The app is suitable for all platforms and it also has the ability to distinguish different types of users, so that specific messages could be delivered.

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    • Enterprise
    • 501 to 1,000
  • To ensure businesses gain maximum optimum from geofencing, the company offers customized geofencing software to its commercial clients. Mobinius has been successful in creating a customer-friendly solution for one of the largest Gulf Cooperation Council (GCC) giants, which resulted in enhancing the customer experience with geofencing-based solutions. Mobinius Technologies is focused on continuous innovation in its products. With the latest technological advancements in location-based services and geofencing, the company has been a provider of advanced innovative products and solutions. Additionally, the company plans to develop its strategic business goals according to the clients’ changing requirements.

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    • Enterprise
    • 501 to 1,000
  • GeoMoby Geofencing software provides rich and actionable analytics. It can target smartphones and send messages, arranging from few meters up to several kilometers. The GeoMoby solution can be easily integrated into the existing applications, using SDK or web API. Furthermore, it helps manage and synchronize geofences into applications within seconds. With GeoMoby's microfencing, the geographic target range can be anywhere from a few centimeters up to 50 meters from the location of an iBeacon. It allows users to deploy infinite microfences around any venue with a few clicks. Each time a customer triggers a microfence, the application delivers a message, loads relevant content, processes the payment, and modifies the UX to the user’s physical environment. iBeacons require buying, placing, and maintenance of hardware whereas geofencing does not require these.

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    • Enterprise
    • 51 to 100
  • Dreamorbit creates apps that have the ability to automatically handle GPS tracking frequency and decrease battery usage. The company has built frameworks for Android as well as iOS SDK over the period of time and they have the ability to prototype the user's product idea and kickstart the development immediately. Their application provides route and geo-fenced information to the drivers even in the areas with lower internet connectivity. These offline maps are as accurate as online maps. 

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    • Enterprise
    • 501 to 1,000
  • Swirl’s flexible and open architecture provides a mobile presence marketing solution that can be customized to meet the requirements of any large-scale retail environment. Furthermore, the platform enables retailers to take the advantage of digital location signals, including geofences, Wi-Fi network, Visible Light Communication (VLC), and Bluetooth beacons, to create a set of customer behavioral data and then act on this data to influence shoppers via in-store automation.

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    • Enterprise
    • 501 to 1,000
  • Simpli.fi's offers Conversion Zones, a competent tool for tracking online to offline conversions in mobile advertising. By outlining a virtual conversion zone about a location, advertisers can monitor the amount of physical traffic at a location. The company's event targeting solution,  precisely targets customers from an event. Simpli.fi's geofencing is highly accurate. The company's targeting solution relies on plat line data from property tax and public land surveying information. 

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    • Enterprise
    • 501 to 1,000
  • Urban Airship offers Location Triggers, which enable businesses to deliver real-time automated messages to their customers as they move in or out of a specific geographical location. The features include: Real-time automation triggers; Push notifications sent out when a device moves in a geographical location; Captures location events and stores for audience targeting; Is compatible with iOS, Android and Amazon. 

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    • Enterprise
    • 501 to 1,000
  • Localytics Geofencing software helps its clients engage with their customers with push notifications in the form of images, Graphics Interchange Formats (GIFs), videos, or audio files directly for more compelling results. The company’s targeting capabilities and True Impact campaign reports make it easy for customers to effectively engage their mobile app users. True Impact is the company’s campaign reporting tool.

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    • Enterprise
    • Boston, Massachusetts, US
    • Founded: 2008
    • 101 to 500
  • Invisage's geo-fencing software enables professionals to define boundaries on top of a specific geographical area. The technology helps in creating alerts to welcome attendees on their arrival at airports, hotels and the event venue. It can also deliver targeted messages to attendees based on their unique profile information. Invisage's analytics provide attendee traffic reporting with heat maps, graphs and charts. The solution is easy to deploy and more cost effective than RFID. Through their industry partners, Invisage is the first software provider to ship iBeacon technology for alerts and analytics in the tradeshow industry.

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    • Startup
    • Newark, California, US
    • Founded: 2006
    • Below $10 MN
    • 501 to 1,000
  • VisioGlobe makes it easy for businesses to edit and publish the latest map to their desired platforms. The Geofencing software is flexible and can be accessed from anywhere with the web browser. It enables users to edit and save their maps on the cloud. The company's Visualization products are fast and are easy to integrated in the businesses' existing applications. The solutions can be deployed on mobile, web and kiosk. The company enables businesses to visualize maps on mobile, web and kiosk with th  help of their multiplatform solutions. 

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    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
  • Factual customers get a 202% ROI on their targeting investment and a 47% lower cost-per-action (CPA) on average. The  company helps organizations to instantly design their geofenced ad campaigns by choosing their targeted places and defining their desired radius. It also helps users to specify any radius or combination of radii, and create advanced targeting that distinguishes between, targeting their own store and their competitors’ stores, and targeting their locations closer to the competitors’. 

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    • Startup
    • Los Angeles, California, US
    • Founded: 2008
    • Below $10 MN
    • 51 to 100

Geofencing Solutions in BFSI Quadrant

Comparing 23 vendors in Geofencing Solutions across 94 criteria.

Find the best Geofencing Solutions solution for your business, using ratings and reviews from buyers, analysts, vendors and industry experts

EVALUATION CRITERIA

Below criteria are most commonly used for comparing Geofencing Solutions tools.
  • Breadth and Depth of Product Offerings
    • Types of Geofencing Services
      • Deployment And Integration Services
      • Application Support And Maintenance Services
      • Consulting And Advisory Services
      • Training And Development Services
      • Api Management Services
      • Testing Services
    • Types of Geofencing
      • Fixed
      • Mobile
  • Product Features and Functionality
    • Industry Coverage
      • Transportation and Logistics
      • Retail and Consumer Goods
      • Healthcare and Life Sciences
      • Manufacturing
      • Media and Entertainment
      • Governmnet and Defense
      • BFSI
    • Customer Type
      • SME's
      • Large Enterprises
  • Product Quality and Reliability
    • Frequency of Support Service
      • Monthly
    • Support Activities
      • Customer support service
      • Documentation
      • Training and development
      • Support and maintenance
    • Channel for Delivery of Support Services
      • On-Site Support
      • Remote Support
  • Focus on Product Innovation
    • R&D Spend

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Marie Stelle

Engagement Partner - 360Quadrants.com