Sammedia has bought a 49 per cent stake in former Skandia head of strategy Neil Bage’s start-up technology firm Suitable Strategies for an undisclosed sum.
Suitable Strategies and Sammedia have built Consumer 3D, a research-based technology solution that profiles consumers based on their financial capability.
The tool identifies a customer’s understanding of financial services language, concepts and products and provides a risk profile.
Consumer 3D will be available as both a standalone product and an integrated option within Sammedia’s direct to consumer-build Moneyinfo.
Sammedia chief executive Mike Free says: “Neil’s fresh approach to client profiling is completely in line with the ethos we take in building solutions from a consumer’s perspective. We believe Consumer 3D will augment existing risk profiling tools and, coupled with income, expenditure and existing holdings analysis from our aggregation tools, it will help consumers and financial services firms more easily determine affordability and suitability in an online environment.”
Finance & Technology Research Centre director Ian McKenna says: “On one hand I welcome new ideas to the market, but I would want to see to what extent this process has been tested and what the academic background is.”