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.

Geofencing Solutions in BFSI

Comparing 30 vendors in Geofencing Solutions across 94 criteria.

360Quadrant For Geofencing Solutions, Q2 2022

The 20 Companies That Matter Most And How They Stack Up

599,864 professionals have used our research since 2010

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2.8 Online
Mapcite Geofencing Solutions 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. Mapcite platform provides these services for Android as well as iOS mobile devices.
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4
Apple Geofencing Solutions Indoor Remote Triggered Location Scanning application lets th company locate an iPhone user inside a building, with the help of preset nodes or iBeacons that can detect the location of a device. Apple pricing plans are flexible and can suite all kinds of budgets. 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. Also, Apple Geofencing Solutions has increased R&D investment  up to 4.7% in 2016 from 3.7% in 2015. To grow in the geofencing market, the company is continuously introducing new applications based on iOS and adding new features to the existing ones.
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ESRI Geofencing Solutions 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. ESRI Geofencing Solutions 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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3.6
GPSWOX Geofencing Solutions 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 Geofencing Solutions 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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3.5
Bluedot Geofencing Solutions offers 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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Thumbvista Geofencing Solutions 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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2.9
Airship Geofencing Solutions 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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LocationSmart Geofencing Solutions 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 Geofencing Solutions power and accuracy will provide the organisation an opportunity to open the doors to targeted engagement opportunities.

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2.7

GeoHems Geofencing Solutions provides GPS based location tracking solutions. 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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2.7

Embitel Geofencing Solutions helps businesses in implementing 3D object marker detection solutions for geo-fencing, profile status updates on entering and leaving the perimeters and alert generation systems and communication solutions. Embitel Geofencing Solutionshas successfully deployed push notifications in several mobile apps with the help of numerous solutions such as Evaluated Parse, Urban Airship, Django, GCM etc.

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2.5
GeoMoby Geofencing Solutions 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 Geofencing Solutions 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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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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2.4

Raveon Technologies offers RavTrack geofencing solutions that are specifically created for Public Safety AVL, Construction Equipment Tracking, Parks and Mine Equipment Tracking, security management, theft discovery, vehicle delivery and more. RavTrack geofencing solutions GPS tracking solution leverage VHF/UHF/ISM radio channels which makes their solutions faster, and cuts down on any monthly expenditures.

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Succorfish Geofencing Solutions 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 solutions has the ability to define a virtual perimeter for a real-world geographic area. The breaking of the geofence perimeter alerts that indicates that an asset is deviating from a predefined route. 

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