Relationship designed to provide marketers in financial services with a powerful new segmentation solution that does not rely on protected class demographic
Equifax Inc. (NYSE: EFX) and Neustar®, Inc. announced a strategic agreement designed to deliver superior segmentation solutions to the financial services industry. This new relationship will bring together the unique data assets of both companies for offerings designed to meet the needs of financial services institutions.
The Fair Credit Reporting Act (FCRA) and Fair Housing Act (FHA) have caused many financial services companies to eliminate protected class variables from all targeted marketing activities. Unfortunately, most available segmentation models were built with protected class variables including age, income, marital status, and others; making them unusable. Together, Equifax and Neustar are bringing to market a first-of-its-kind segmentation solution that does not use protected class information such as age or gender. Designed specifically for financial services companies, the solution includes the Equifax financial insights including average assets and liabilities, asset composition, propensity to buy certain financial products and services, and other variables that provide unique insights into consumer financial behavior. These Equifax data assets are then linked to Neustar’s industry-leading identity graph to describe the financial profile for households in the U.S.
Neustar’s ElementOne audience intelligence solution has been providing industry-leading segmentation capabilities for over a decade, and is now used by hundreds of customers for insights, planning, activation and measurement purposes. The new financial segmentation schema will leverage the same proprietary modelling capability, and the resulting dataset will be rolling out across Neustar’s marketing solutions product-set in a phased way, starting in Q1 2020.
About: Neustar is an information services and technology company and a leader in identity resolution providing the data and technology that enables trusted connections between companies and people at the moments that matter most. Neustar offers industry-leading solutions in Marketing, Risk, Communications, Security and Registry that responsibly connect data on people, devices and locations, continuously corroborated through billions of transactions. Neustar serves more than 8,000 clients worldwide, including 60 of the Fortune 100. Learn how your company can benefit from the power of trusted connections here: https://www.home.neustar.