Case study
How Money and Pensions Service (MaPS) helps people improve their financial futures through a refreshed segmentation solution
Summary
The Money and Pensions Service (MaPS) is a statutory
body sponsored by the Department for Work and
Pensions dedicated to helping people – particularly
those most in need – make well-informed decisions
about their money and pensions and improve their
Financial Wellbeing and resilience to build a more
secure future.
CACI has worked in partnership with MaPS for a
decade, delivering a range of analytical solutions
that have enhanced MaPS’ understanding of the
UK’s financial wellbeing. This work has included the
development of MaPS’ current Financial Wellbeing
segmentation solution, which supported the
understanding and underpinning of their national
strategy.
To fulfil their remit, MaPS must understand the
varying financial needs of UK consumers and the
characteristics, features and locations of consumers
with lower Financial Wellbeing. This insight is critical
for targeting the right groups of consumers and
offering them the necessary support.
Company size
0-500
Industry
Financial Services
Products used
Challenge
The UK’s economic landscape has changed since the development of the previous Financial Wellbeing solution in 2019-2020, with many households’ finances having been and continuing to be affected. As such, MaPS needed CACI to review and refresh the existing segmentation to ensure it remained fit-for-purpose in reflecting the Financial Wellbeing of the UK population and would distil a complex array of characteristics into one cohesive solution.
Solution
The UK’s economic landscape has changed since the development of the previous Financial Wellbeing solution in 2019-2020, with many households’ finances having been and continuing to be affected. As such, MaPS needed CACI to review and refresh the existing segmentation to ensure it remained fit-for-purpose in reflecting the Financial Wellbeing of the UK population and would distil a complex array of characteristics into one cohesive solution.
A blended data approach was instrumental in the innovative development of this segmentation. MaPS’ flagship Financial Wellbeing survey (known as “MoneyView” from 2025) and scoring methodology was used to inform the clustering algorithms alongside CACI’s UK-wide datasets to define the segments and add further colour and context into who these people are. Consolidating research with Fresco, CACI’s powerful individual-level financial services segmentation, and Ocean, CACI’s attribute-rich consumer database, ensured segments and sub-segments would be accurately rolled out across the UK at various geographic levels. This ranged from more granular postcode sectors to local authority area or region and can be applied to financial service providers’ customer databases. Through the range of data inputs, segments and sub-segments could be profiled across over 900 characteristics to enhance understanding and drive ongoing strategy through data-driven insight.
As a result, this refreshed solution is helping MaPS define, describe and outline a set of characteristics of those most in need, as well as who to target and reach. It will also enable the opportunity to profile service users and whether users with lower financial well-being were adequately supported.
Outcomes
MaPS’ refreshed Financial Wellbeing segmentation offers a range of new benefits, including:
- An enhanced understanding into how consumers’ needs differ and the areas of greatest need.
- An accurate representation of the current population’s financial situation, given changes to the market.
- Aligning to MaPS’ Financial Wellbeing scoring for consistency with internal methodologies.
- Ensuring reach is applicable to the whole of the UK.
- Underpinned by Fresco, enabling its use by wider financial service organisations to bolster their understanding of Financial Wellbeing (which can be particularly helpful in the context of Consumer Duty).
The refreshed segmentation has been fundamental in aspects of MaPS’ operations, from content design to communications activity. For example:
- Informing MaPS’ UK strategy for Financial Wellbeing.
- Identifying the target audience for MaPS’ cost of living campaign
- Participant recruitment in user research when developing new tools and services.
- Understanding local regions and areas across the UK most in need of support for partnerships.
- Understanding needs, issues and policy innovation.
To find out more about the Money and Pensions Service Financial Wellbeing strategy, click here
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