Fast Mortgage - Mortgage News
MapInfo Debuts Demand Insight(TM) Financial--Providing the Banking Industry with Unprecedented Accuracy in Financial Demand Forecasting; Accurately Assesses Market Opportunity and Helps Retail Banks Increase Share-of-Wallet
home.businesswire.com
November 15, 2005
ORLANDO, Fla.-- MapInfo Corporation (Nasdaq: MAPS), the leading global provider of location intelligence solutions, today announced the release of Demand Insight(TM) Financial, the banking industry's first financial demand data product derived from actual retail banking accounts and engineered specifically to generate accurate current and five-year projections for the total financial services demand in any given U.S. market. Total wallet demand estimates are segmented and allocated by residential, workplace and small business customer categories.
Demand Insight Financial enables banks to more precisely assess their current performance in markets and trade areas, and assists in helping them make more profitable decisions about which markets to enter and where to build in specific markets. Retail banks gain an unprecedented ability to size the total wallet demand for core retail financial services (including deposit, loan and investment products) in any specific geographical area, and to isolate this demand by residential, workplace or small business segment. Demand Insight Financial provides, for the first time, an accurate depiction of whether consumers in a given area are making banking decisions based on convenience to place of residence or place of employment. Armed with this information, banks can best optimize their offerings.
Demand Insight Financial represents an extension of the demand forecasting ability MapInfo, through its recent acquisition of MarkeTech Systems, has provided to retail banking customers for years with its WinSITE(TM) product, a high-end predictive analytics technology for retail banks. Until now, this demand data product has not been available for independent use.
"For the last five years, financial product demand projections delivered by MarkeTech Systems and now MapInfo have been a key component of our site selection and market optimization efforts," said Ken Perdue, vice president and market strategy manager, Huntington National Bank. "The site recommendations generated by the software have really helped Huntington to deploy its branch network with consistent success."
Demand Insight Financial also sizes geographical demand for small business financial services, quantifying the potential overall impact that small business accounts will have in retail banking and revealing where small business offerings are most likely to succeed. For the first time, banks can get an accurate read on the increasingly important small business market segment and gain tremendous competitive advantage in their efforts to obtain profitable small business customers.
"We designed Demand Insight Financial with the business analyst in mind, providing an easy-to-use dataset and straightforward variables so banks can make more educated, fact-based decisions about where banking customers are located and where to profitably locate branches," said David Bunten, strategic industry manager, financial services, MapInfo. "In addition to accurate demand estimates for consumer wallet, bank at work convenience and small business retail banking, the product also reveals where customers are likely to choose alternative delivery methods, such as internet-only banking."
Demand Insight Financial is available as a stand alone solution or delivered via AnySite(TM)Analyzer, MapInfo's powerful analytic mapping and reporting platform.
About MapInfo
MapInfo is a global company and the leading 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. MapInfo solutions are available in 20 languages through a network of strategic partners and distribution channels in 60 countries. Headquartered in Troy, N.Y., MapInfo is on the World Wide Web at www.mapinfo.com.
MapInfo, Demand Insight, WinSITE and AnySite are trademarks of 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 MapInfo products and integration of MapInfo 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 quarterly report on Form 10-Q filed with the Securities and Exchange Commission under the heading "Factors Affecting Future Performance." MapInfo takes no responsibility to update any forward-looking statements.