Experian, First Manhattan intros Financial Personalities

By : |November 30, 2006 0

BANGALORE: Experian Group Ltd, a global information solutions company, and First Manhattan Consulting Group (FMCG) today announced the launch of Financial Personalities, a comprehensive segmentation and scoring system for specific types of financial services, including credit card, home equity and mortgage.

Financial Personalities provides marketers of lending products with a unique set of tools to improve customer and prospect targeting, better align products and offers and tailor messaging to appeal to prospects. Financial Personalities are an exclusive offering of Experian and FMCG.

Financial Personalities enables marketers to target prospects using scores that accurately predict a consumer’s needs and attitudes towards specific financial products. Along with a Financial Personality score for each consumer, a framework reveals critical aspects of each Financial Personality, such as the importance of rates and fees, discipline with finances, perceived financial security and their use of financial products.

“We had been disappointed with our direct mail campaign performance,” said Sue Jump, vice president, Union Bank of California. “Using Financial Personalities to inform both our mail file targeting and creative tailoring changed everything.”

“Financial Personalities were developed to address the absence of category-specific market segment scoring systems that could meaningfully inform initiatives ranging from line of business strategies to direct marketing campaigns,” said David Tetenbaum, managing vice president, FMCG. “Each Financial Personality framework is built at the category level because consumers’ needs, attitudes and behaviors vary across categories.”

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