Segmint offers a technology platform that leverages actual consumer data to help marketers send relevant messages at the precise moment they’re considering a purchase.
“It’s like looking at your credit or bank statement, and making sense of all of that data,” according to Rob Heiser, co-founder, president and CEO of Segmint.
What is Segmint?
Ten years ago, Heiser saw a big gap in tech innovation in the banking industry. Sensing opportunity, he looked for a solution to help banks find the right tools to work with their customers in a more efficient way. RewardExpert spoke with Heiser about how he helped bridge the gap between the bank and the customer by developing Segmint.
He realized that his bank was not taking advantage of all the data they had on him. “My bank accounts had everything I’m doing from buying coffee or groceries or traveling,” he said. “I realized there was a lot of data the bank wasn’t doing anything with.”
Heiser decided to develop a product that could bridge the gap between the bank and the customer. “I felt it was important to equip the bank with more educational information to help them streamline and make better decisions knowing the customer. Personalization is even more important today.” It’s a relatively new frontier for the banking industry, he explained, and that banks are just starting to take advantage of data-driven customer personalization.
Segmint makes sense of a customer’s transactions at retailers and other merchants and sorts through the massive amounts of data to boil down to the most critical insights. Segmint’s technology does not require any critical personally identifiable information (PII), and bank clients never send any PII to Segmint.
“It’s about understanding the customer and how to better serve and educate the individual about certain products. And when the relationship has broken down, the banker can help guide the person with products that make the most sense based on their lifestyle, income and savings, and how to manage their money in a better way,” according to Heiser.
In addition to providing this valuable metadata to banks, Segmint also offers a marketing platform. “Our clients can leverage our data insights with our marketing platform and deliver the right information to the customer on any channel. We help educate the bank from a product perspective so it can make the right recommendation of products to their customers to manage their finances.” Financial institutions can take advantage of Segmint’s technology by utilizing their Data Insights Platform or the Data Insights & Marketing Platform.
Helping People Make the Best Financial Decisions
Segmint’s technology can help both banks and customers make the best financial decisions. “One of the hardest things to do with banking data is to make sense of it,” said Heiser. “We provide visualizations so they can understand their customers. Segmint allows banks to take real data and make decisions instead of relying on assumptions that were made in the past.” For customers, Segmint’s technology can help a bank make good recommendations for financial management, credit cards and other products.
Segmint’s Road Ahead
Segmint recently partnered with IBM to integrate the company’s Key Lifestyle Indicator product with other technology to further explore, analyze and predict customer life events. Heiser said, “The IBM deal elevates our profile to more tier one large institutions and will significantly broaden our customer base. We are excited to work with IBM to offer solutions that provide data analytics and insight in a very clean, standardized way to create applications that help consumers live better financial lives.”