In this introductory webinar, CACI share the detail behind the six segments, including how they were created, their core needs and behaviours. This is suitable for all who are interested in financial inclusion and understanding people in vulnerable financial circumstances
New research from Fair4All Finance, Trajectory and CACI estimates there are 17.5m people who are in financially vulnerable circumstances with a spectrum of those who are precarious to those who are fully excluded.
This new segmentation can help financial services providers further understand different groups of people, identify which they are serving well today and where there is the opportunity to serve different customer groups. This could not only help build the financial resilience of different groups, but also help organisations to diversify their customer base.
Customer segmentation is about understanding groups of people and categorising them into groups based on similar needs and behaviours. Our segmentation has focused explicitly on those in vulnerable financial circumstances, and has been driven by their financial needs, their product and debt behaviour, and their wider lifestyle. Working with Trajectory and CACI we have identified six core segments that are under-served in the market today.