Paramount Financial Technologies is powered by artificial intelligence and analytics to help banks understand more about the effectiveness of branches; the company looks to answer three questions: when to open new branches for deposits, how to improve efficiency in the face of digital banking and where they need to spend more time build commercial relationships for lending; Paramount has built partnerships with real estate companies which helps it to better assess costs when a bank wants to grow their branch network; branches overall have been closing but there are pockets of growth and Paramount’s Massachusetts home is one area that has seen big branch growth in recent years. Source.
