SAS Institute is providing an ecommerce product after joining forces with recently launched online financial services provider Xelector to build customer profiles.
The company will develop a data warehousing and data mining system that will enable Xelector to build online customer profiles. This will help Xelector target its offerings in line with market demands.
Xelector, which offers an online service for consumers to compare and buy financial products such as mortgages and credit cards, said customers access its services through portals and other websites.
The service is due to be launched in Europe in the second quarter of the year. SAS's software will enable Xelector and its affiliate sites to integrate web data collected by its existing database and give profiles that will help understand consumer behaviour.
Patrick Durkin, country manager of SAS Institute Ireland, said:"One of the things consumers will be able to do with Xelector is compare competing credit card offers before making a selection. The SAS offering will enable Xelector to capture this information about market interest in each card, the market profile and the size of market share. Financial institutions will use this data to provide better targeted products and services."
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