To The Bank Mobile

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What it does:

The Banking Mobile coordinates and optimizes pathing and prioritization for banks on wheels. It aims to effectively reach under-served communities (rural areas, areas without easy technology access, areas just hit by a natural disaster) and provide them with adequate financial services.

How we built it:

Using the folium library in Python, we were able to generate a map based on the locations of banks and implemented it in a web applications. Then, we used a package called OSMNX that took street data and turned it into nodes and edges on a graph. These nodes are determines by the surrounding area, such as commercial or residential. We calculated optimal start nodes and routed a path in between three nodes to symbolize the path the Bank Mobile would take.

Challenges We Encountered:

We attempted to use the CaptialOne API, however, we discovered it was discontinued. When we tried to create a density map involving choropleth in the folium library, we encountered issues converting a CSV to JSON and generating a density map based on districts. We opted for a circle based heat map of areas served by a bank's branch and identify empty spots. Additionally, the use of the OSMNX package contained so many libraries that we needed to invest a lot of time in order to understand what each package and function does.

Further Application:

This application would be most effective if it was launched in parts of the world where not everyone has easy access to financial institutions and/or technology. Banks are already starting to roll out Bank Mobiles in Ghana and Oman, where a significant portion of the population is completely disconnected from financial institutions. The Bank of Scotland has a fleet of Bank Mobiles that traverse across the Scottish countryside to interact with clients that were otherwise inaccessible. Wells Fargo is using Bank Mobiles to quickly meet with clients in the aftermath of a hurricane, when they need a property evaluation and guidance with regards to insurance, rebuilding and other next steps. Our application offers a data driven approach to pinpoint regions that need help and route our Bank Mobiles to maximize community outreach and customer engagement.

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