A large enterprise is implementing a Service Portal for employees to request IT equipment. The portal must be accessible globally, with users in Europe, Asia, and the Americas. The development team has created a custom widget that displays the user's local time based on their location. The widget uses a server script that calls a third-party geolocation API to determine the user's timezone based on their IP address. However, during peak hours, the widget takes over 10 seconds to load, causing poor user experience. The team also notices that the same timezone is fetched repeatedly for the same user across different sessions. The portal uses a CDN for static assets. Which approach should the developer take to reduce the load time while maintaining accuracy?