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Akron's Segmint partners with IBM

Northeast Ohio
Akron's Segmint partners with IBM

The Akron-based data-mining and management firm Segmint has announced it has a new partner: none other than IBM.

Segmint said on Tuesday, July 11, that it has entered a strategic partnership with IBM to market each other's products to financial service providers.

Both companies offer banks and other financial service firms the ability to predict and respond early to customer needs by using and watching the data that they have on their customers and their use of financial tools and services. IBM offers its Customer Insights for Banking and its Customer Insights for Wealth Management, while Segmint's products include its Key Lifestyle Indicator technology.

IBM says its products "leverage predictive analytics, machine learning, deep learning and Watson technology to create actionable insights that allow financial institutions to deepen relationships with retail banking and high-net worth individuals."

Segmint says that with its technology, service providers can quickly analyze customers' product usage, relationships with competing institutions and other aspects of their financial behavior and patterns. Its clients use that information to provide custom communications and service offerings to clients who are most likely to need and use them.

Segmint CEO Rob Heiser said the two companies and their products are a natural fit.

"The ability to have a partner like IBM is a game changer, and ultimately we believe this endeavor will bring new business value to the retail banking space while enhancing the customer experience," Heiser said. "Every step of the customer journey is important and ultimately we want to unlock deeper customer insights that create more interesting conversations for financial institutions."

Since it was formed in 2008, Segmint has grown into one of the nation's leading providers of customer-data solutions. Heiser said earlier this year that the firm now counts more than 50 banks among its clients, from small community banks to big regional players with hundreds of billions of dollars in assets.

Segmint, which recently moved into new offices in Akron's Hamlin Building, employs about 40 people.

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