01.10.2008 | Fraudscreen extends product range for the needs of customer marketers
Fraudscreen announced today the launch of their second major product offering, HouseFile. The product utilises the same unique dataset used to create their Classic solution (designed to aid customer acquisition) but adds further discrimination to create 50 individual level risk assessment codes across five geographic segments. HouseFile can be used in several ways; for current customers, it is designed to provide insight on customers’ payment behaviour with other businesses. For the best codes, this gives reassurance on their payment intent so that tailored cross-sell/up-sell messages/payment terms can be offered to encourage extra spend, continued payment and embed long term loyalty. The greatest value that HouseFile can deliver is in reactivating lapsed customers by helping clients avoid unnecessary costs in reactivating those who offer little long term value. Fraudscreen believe that traditional approaches to segmenting and selecting lapsed data, using recency, frequency and value of historic purchases, are hindered by the age of the data or where low numbers of transactions make it difficult to segment effectively. HouseFile adds an additional layer of insight, payment intent, that identifies the best codes to select for reactivation. By coding older datasets and those with less historic transactional information, users can expand their marketing volumes and therefore their revenue potential.
Commenting on the launch, Tony Masters, Product Director at Fraudscreen said, “This is the next logical evolution of the Fraudscreen product offering. To date our solution has focused primarily on helping our clients to identify payment intent across new prospects, whether they are recruited via outbound or inbound marketing channels. HouseFile now enables our clients to classify existing and lapsed customers so that they can identify those demonstrating the best payment behaviour elsewhere. These people typically represent the greatest long term potential value to their business.”
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