Data solutions for consumer identification, marketing, and management
Collecting vast amounts of data might have been the modus operandi of many large organisations in the past decade, but if you don’t know what to do with it, then data becomes more of a hindrance than a help. Especially since the advent of data protection regulations such as GDPR, which bestows large penalties on organisations failing to collect, store or protect data properly.
As with any asset, businesses need a thorough strategy for their data. One company which is well placed to help is Data On Demand – a Leeds based Marketing technology business which builds intelligent data solutions to help organisations develop their client facing services and optimise their own business processes.
Crunching the numbers
After several years at a credit reference agency, CEO Stuart Murgatroyd founded Data On Demand in 2016 as a result of the impact of GDPR on the data industry.
Operating in the field of consumer financial data, the company’s solutions offer businesses a way of identifying, verifying and contacting individuals (to reduce fraud, for example); acquiring accurate, detailed consumer data for marketing purposes; and data processing and management tools for their in-house data needs.
“We entered the field of consumer financial data to process data under legitimate interests for the purposes of tracing individuals, ID verification and customer communications,” Murgatroyd says. “We build our own technology which allows our customers to access dashboards and APIs to interrogate their own data and improve it with additional insights and information.”
“But we’re also able to create new products as the market requires them. We manage a pool of exclusive data sources which allows us to quickly bring new products to market that do not currently exist.”
Recently, in the context of the coronavirus pandemic, this included a new product to help identify individuals who might be struggling financially.
“In May 2020 we created a product called IdVu which allows our customers to pinpoint emerging financial vulnerability in their customer base using employment, demographic and financial trigger data,” Murgatroyd adds.
In spite of the huge shock to the business world recently, Data On Demand is seeing continued levels of growth. The business is part of the 2020 cohort of the Natwest Fintech Accelerator, which Murgatroyd particularly appreciates for the chance to work with a Tier 1 financial institution.
“We’re always looking for opportunities to collaborate on projects with other organisations,” he says. “It’s really exciting for us to establish a close working relationship with RBS/Natwest.”
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