NEWS22 November 2019

Equifax and Neustar partner on financial services segmentation

Data analytics Finance News North America

US – Data, analytics and technology company Equifax and information services and tech firm Neustar have entered into an agreement to launch a segmentation tool for the financial services industry.

The solution links Equifax’s consumer financial behaviour insights, including average assets and liabilities, and propensity to buy certain financial products and services, with Neustar’s identity graph to describe the financial profile of US households.

The tool does not use protected class variables such as age, income, marital status and gender.

Michael Schoen, senior vice-president and general manager of marketing solutions at Neustar, said: “Partnering with Equifax to develop a segmentation schema for the financial services industry, that’s absent of any protected class variables, will give Neustar’s financial services customers the ability to unlock a number of new potential use cases, that have been previously unavailable due to compliance concerns.”

These include custom audience targeting, activation, site planning, market sizing, offer optimisation, and measurement and attribution by customer segment.

Ian Wright, chief data officer, Data-driven Marketing from Equifax, added: “Together, we are giving bank marketers the opportunity to leverage segmentation solutions without using protected class demographics.”