MapInfo introduces Financial PSYTE Geodemographic Segmentation System

MapInfo introduces Financial PSYTE Geodemographic Segmentation System

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Troy, USA, July 18, 2007: Pitney Bowes MapInfo, the leading global provider of location intelligence solutions, unveiled its Financial PSYTE geodemographic segmentation system designed to enhance financial institutions’ target marketing initiatives, market analysis and branch location studies.

Using Financial PSYTE, financial companies can quickly and precisely identify their best customers and map the neighborhoods where they and others like them live, so they are able to more accurately and successfully target their marketing efforts.

Financial PSYTE divides the U.S. population into 14 pre-defined neighborhood segments, or clusters, which provide accurate descriptions of household financial characteristics and behaviors. The clusters contain variables such as economic status, income, occupation, and the types of financial products and services consumers would purchase.

Featuring colorful names accompanied by demographic and lifestyle characteristics, cluster examples include:

  • Private Banking: Wealth Accumulators :- Households in this cluster generally consist of second tier executives and managers, younger families, as well as Baby Boomers. They are commonly married with children of all ages. Their investments are highly leveraged since they have less need for longer-term savings. They tend to own Mercedes automobiles and read the Wall Street Journal online.
  • Mass Market: Credit Builders :- Households in this cluster generally consist of young, socially active, ethnically and occupationally diverse individuals who are less likely than average to have attended college. Many members live in suburban apartments and use the Internet for banking.

    Pitney Bowes MapInfo creates its catalog of income, asset and credit variables from the latest U.S. Census data, combined with proprietary data including U.S. Estimates & Projections for income, Financial Assets & Wealth data, and detailed models of purchasing behaviors derived from tens of millions of customer accounts from financial institutions. When paired with a bank’s existing sales records, campaign histories and survey data, Financial PSYTE enables users to visually analyze customers based on factors such as demographic and lifestyle attributes, and media and consumption preferences.

    In addition, Financial PSYTE integrates with the Pitney Bowes MapInfo AnySite Financial display analytics solution to perform advanced analysis of target customer data and trade areas.