Magazine article American Banker

Software by Deluxe to Help It Diversify from Check-Printing

Magazine article American Banker

Software by Deluxe to Help It Diversify from Check-Printing

Article excerpt

Deluxe Corp., continuing to diversify from its core check-printing operations, has launched new marketing software.

DataWise is meant to help banks create profiles of their most profitable customers and use the demographic information to decide which potential customers to target with direct-mail or other marketing campaigns.

"You would use this system to find your most profitable customers with the ultimate goal of finding more like them," said Tom Byrne, general manager of Deluxe Data Resources, a Laguna Hills, Calif., unit of Deluxe Corp.

"DataWise probably works best as a partner to a financial institution's customer information system," Mr. Byrne said.

By focusing marketing efforts on prospects who most closely resemble the most profitable customers, a bank can substantially reduce the cost of acquiring new customers, he said.

In tests of DataWise, banks doing direct-mail campaigns showed improved response rates and reduced printing and mailing expenses.

Users of DataWise get access to a data base with demographic information on all 110 million U.S. households. The data come mainly from tax assessor files and real estate deeds.

Mr. Byrne said a number of software packages rely on "clustered" information, which gives demographic information about groups of people who live in certain geographic areas. The data delivered through DataWise are focused on specific households, he said.

The software-an upgraded Windows version of a package called InfoAmerica that Deluxe acquired when it bought American Data Resources in 1996-uses 65 distinct demographic data elements. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.