Business
Nigeria: Financal services embrace Google Maps technology – over 10,000 Banks, ATMs and POS terminals listed
Research shows mapping is creating jobs and driving global economic growth.
A few years ago, we used paper maps and printed guides to help us navigate the world. Today, the most advanced digital mapping technologies-satellite imagery, GPS devices, location data and of course Google Maps-are much more accessible. This increased and growth in mapping technology is improving lives and helping businesses in Nigeria realize untold efficiencies.
Today, more Nigerian businesses now consider map listing as a mandatory. In the last quarter of 2012 alone, 14 banks across Nigeria took their branches and automatic teller/banking machine (ATMs) locations closer to Nigerians by listing them on Google Maps. As we speak, there are over 10,000 bank branches, ATMs and point of sales (POS) outlet locations listed on Google Maps: Access Bank, Diamond Bank, Ecobank, Enterprise Bank, Fidelity Bank, First Bank, GTBank, Keystone Bank, Mainstreet Bank, Skye Bank, Sterling Bank, UBA, Union Bank and Wema Bank.
This means that irrespective of location, anyone in or outside Nigeria can find and locate a bank, ATM or POS location in cities in Nigeria. A simple search for banks in Nigeria will present a results that would help everyone find a bank easily. And because Google Maps can be used on mobile devices, a search can be done while on the move.
The implication of this is an increased potential for additional business will be huge via the billions of people around the world using Google Maps. Apart from the banks, other Nigerian businesses using Google maps to reach their customers easier include Forte Oil, Chicken Republic, Mr. Biggs, Etisalat and a number of others.
The transformation of the maps we use everyday is driven by a growing industry that creates jobs and economic growth globally. To present a clearer picture of the importance of the geo-services industry, we commissioned studies from Boston Consulting Group (BCG) and Oxera. What we found is that maps make a big economic splash around the world.
In summary, the global digital mapping industry is valued at up to US$270 billion per year and pays out US$90 billion in wages. While we don’t have exact figures for Nigeria, it employs more than 500,000 people and is worth US$73 billion in the United States alone.
