Neustar and Equifax Launch Financial Spectrum for Financial Services Marketers
Neustar, an information and identity resolution services and technology company, and Equifax released Financial Spectrum, an audience segmentation and media activation solution for financial services marketers.
Financial Spectrum offers asset-based customer segmentation to financial services marketers, leveraging direct-measured financial data and no protected-class demographic variables like age or marital status.
The new offering provides unique consumer insights from Equifax's IXI Network, including asset composition, average assets, and liabilities, and propensity to buy specific financial products and services. The segmentation framework, developed by Neustar, helps financial services marketers leverage deposit and investment information in a compliance-friendly manner.
"We recognized a need for high-performing household segmentation for financial services firms who are concerned about using protected-class demographics, such as age and gender, in their marketing activities," said Ian Wright, chief data officer at Equifax Data-driven Marketing, in a statement. "We're delighted to bring a compliance-friendly solution to market that enables customers to leverage Equifax financial capacity data, combined with Neustar's segmentation, activation, and measurement expertise, across all areas of their businesses."
"It's no secret that most data segmentation strategies built using basic demographic data that financial institutions have long relied on are no longer relevant in today's privacy-first marketing environment," said Michael Schoen, senior vice president and general manager of marketing solutions at Neustar, in a statement. "We're excited to partner with Equifax to bring to market a viable segmentation alternative that will enable financial marketers to not only better serve their customers, but also drive better marketing performance across the board."
Now available for IXI Network members through Neustar's Unified Identity solution, through the Neustar partnership with ActionIQ, and through Equifax, Financial Spectrum will also help financial marketers improve campaign return on investment with audience segmentation based on enhanced views into behavior, including channel preference and campaign attribution.
"Financial institutions are going through significant digital transformation, and many rely on ActionIQ to power personalized experiences across all their customer touch points," said Tasso Argyros, founder and CEO of ActionIQ, in a statement. "Having Financial Spectrum available to ActionIQ clients, who are also IXI Network members, means enhanced audience intelligence, more automated operations, and faster time to market for new campaigns."
Neustar and Equifax Partner on Segmentation Solutions for Financial Services
The partnership is established to provide marketers in financial services with a segmentation solution that does not rely on protected-class demographics.