The segmentation model, Consumer Spotlight, includes 10 segments based on financial characteristics and behaviour acquired through a survey of 4,060 UK individuals.
Information extracted from the resource could help firms to design products and communications specifically tailored to different customers, the FCA said.
Segments include retired with resources, affluent and ambitious, living for now and busy achievers, among others. Each segment examines how different demographics in the UK deal with money and financial services, while also focusing on the capabilities and vulnerabilities of different groups.
Firms can explore the data according to product, demographic and attitudinal categories and see which segments individuals in different age and income bands fall into.
For example, data on mortgages types displays charts showing information on mortgage loan periods and repayment methods, while further data on paying off mortgages displays comparisons on current interest rates paid by individuals and anticipated repayment periods.
An FCA spokesperson said: “The FCA is using the Consumer Spotlight to understand consumers in various markets and this is helping to inform our ongoing work across a number of areas. We are making the segmentation data publicly available because we want to show how we segment the UK financial services consumer landscape and think it could provide useful information to help firms design products that suit different customer groups. There is no obligation to use the data.”
For further information and to explore the data, visit: http://www.fca-consumer-spotlight.org.uk/explore-data
