“Geolocation is the identification or estimation of the real-world geographic location of an object, such as a radar source, mobile phone, or Internet-connected computer terminal. “
Yes, we can also locate a person with, say, a mobile phone. It took some time to recognize the potential and then some to take full advantage of geolocation trackers in users’ smartphones. Banks have to recognize the value that lies in location-based services. They can completely reshape their customer experience by providing a new spectre of personalized offers based on user location.