TROY, N.Y., July 18, 2007 - Pitney Bowes MapInfo, the leading global provider of location intelligence solutions, today 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.
“Nevada State Bank, headquartered in Las Vegas with $4 billion in assets and 72 state-wide branch locations, is continually enhancing our understanding of the financial needs of our customers,” said Jeff Bargerhuff, senior vice president and marketing director at Nevada State Bank and chair of the American Banker’s Association (ABA) Marketing Network. “In order to paint a more accurate picture of our customers and markets, we’ve turned to Financial PSYTE, a truly comprehensive segmentation tool. We are incorporating Financial PSYTE into our marketing campaigns to generate higher response rates and make more effective use of advertising dollars. The product will also help us improve our site selection efforts as we open new branches.”
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. More information on Financial PSYTE is available at www.mapinfo.com/solution.
“Financial PSYTE enables marketers to create a well-aligned and integrated marketing approach tailored to the cultural tendencies and financial propensities of consumers,” said Mike Hickey, president, Pitney Bowes MapInfo. “Unlike existing solutions on the market, Financial PSYTE equips financial institutions with an unparalleled array of financial data to accurately examine and visually map their customers’ and prospects’ banking behaviors, demographics and locations. Financial companies looking to gain and retain customers should turn to Financial PSYTE to advance their performance goals.”
About Pitney Bowes MapInfo
Pitney Bowes MapInfo, part of Pitney Bowes Inc. (NYSE:PBI), is the leading global provider of location intelligence solutions, integrating software, data and services to provide greater value from location-based information and drive more insightful decisions for businesses and government organizations around the world. The company’s solutions are available in multiple languages through a network of strategic partners and distribution channels in 60 countries. Visit www.mapinfo.com and www.pb.com for more information.
MapInfo, Financial PSYTE and AnySITE Financial are trademarks of Pitney Bowes MapInfo Corporation and/or its subsidiaries and affiliates.
Of Note
This press release contains forward-looking statements involving risks and uncertainties. Any statement not a statement of historical fact is a forward-looking statement, including without limitation statements concerning demand for and benefits of Pitney Bowes MapInfo products and integration of its products with existing solutions. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including those factors contained in the Company’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission under the heading “Risk Factors.” Pitney Bowes MapInfo takes no responsibility to update any forward-looking statements.