EuroDirect Launches Specialist Segmentation for the Financial Services Market

EuroDirect has today launched CAMEO Personal Finance, a new individual level classification system developed specifically for Financial Service providers.

CAMEO Personal Finance provides a suite of five distinct segmentations which have been built to assess the financial behaviours of consumers, including their:

  • Personal Savings
  • Investment Activity
  • Credit Behaviour
  • Channel Preference
  • Attitudes to Personal Finance

Built at individual level using data from the Ipsos MORI Financial Services Panel combined with EuroDirect's Data Exchange universe, CAMEO Personal Finance delivers a powerful series of classifications for customer analysis, profiling, modelling and prospect targeting.

CAMEO Personal Finance is unique in the marketplace. As with all EuroDirect's classifications, it focuses on only one consumer dimension enabling users to easily identify which factors are most discriminative for their data. As such CAMEO Personal Finance does not incorporate demographics or wealth measures and instead concentrates purely on an individual's financial product usage and attitudes. Where the added dimensions of age, lifestage, affluence and income are required, CAMEO Lifestyle can be overlaid to provide further insight.

Personal Savings: The first system categorises consumers by their saving activity and comprises five key segments, from 'A - Sophisticated Savers' through to 'E - Seldom Savers'. It covers the full range of savings options from traditional Bank and Building Society accounts through to tax free savings schemes, endowments and current account savings. It also takes account of both volume and value of savings accounts.

Investment Activity: The Investment Activity classification concentrates on shareholdings, private pensions, property investments, endowments, unit trusts and investment bonds and trusts. It segments individuals into one of five groups from 'A - Sophisticated Investors' to 'E- Non Investors'. It also looks at levels of investment activity and future investment plans.

Credit Behaviour: Classifying consumers from 'A - Credit Savvy' to 'E - Credit Difficulties', this system allows organisations to profile their customers against five distinct behavioural groups. It considers both secured and non-secured lending, including credit cards, loans, mortgages, overdrafts and home collected credit channels as well as payment patterns. It also takes into account future intentions to access credit.

Channel Preference: Channel preference is an important element of the marketing conundrum. CAMEO Personal Finance is able to accurately segment consumers by their favoured purchase and financial management channel. Classifications range from 'Online Transactors' to 'Branch Bankers', 'Phone Bankers' and 'Channel Indifferent'.

Attitudes to Personal Finance: This system consists of six segments ranging from 'A - Financial Nous' to 'F - Limited Financial Options'. It allows users to understand consumer's attitudes to credit and saving whilst at the same time considering their future financial plans.

Leanne Douglas, Head of Product Management, EuroDirect comments: "This significant innovation can benefit the full spectrum of financial providers in their customer retention, cross-sell and acquisitions strategies. By focussing these segmentations at individual level we are able to provide detailed insight to our clients, helping them to keep pace with the highly competitive and ever moving financial marketplace."