Defaqto expands market intelligence platform into wealth sector

Defaqto has expanded its Matrix 360 market intelligence platform into wealth and protection, seeking to enable providers to benchmark propositions, monitor competitors, and track changes across their sector.

The platform aims to support product and proposition teams with benchmarking and proposition development, and market intelligence, research, commercial, and distribution teams with an accessible view of competitive activity.

This includes tracking changes such as product launches, withdrawals, and individual feature updates.

Combining Defaqto’s financial product data with interactive dashboards, comparison tools, alerts, and reporting, Matrix 360 brings together market analysis in a single platform.

Initial usage of the expanded offering has included comparing a new proposition with other platforms in the market, alongside supporting competitor analysis and internal reporting.

Matrix 360 is currently used in the UK insurance and banking markets, with the expansion marking the addition of the wealth and protection sectors.

“Wealth and protection teams have access to a huge amount of market information,” said Defaqto interim CEO, Michael Piddock.

“The challenge is bringing it together consistently and getting something useful from the data quickly.

“Matrix 360 gives providers a much clearer way to understand where their proposition sits, how competitors are changing and where there may be gaps in the market.”

Defaqto head of customer success, Carly Bewick, added: “Having access to the right data is only part of the picture. Providers also need to understand what advisers are comparing, how their propositions measure up and where they have opportunities to stand out.

“Bringing these perspectives together can help teams make more informed decisions about product development and positioning.”

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