WealthEngine Enhances SaaS Offerings With Data and Security Updates, Introduces Wealth-Based Market Potential Reports for Top US Metros

WealthEngine furthers its leadership in the wealth intelligence space and announced today the availability of its new Market Potential Reports for the top US metropolitan areas. These reports leverage the company’s regularly updated database on wealth insights with scores and ratings using publicly-available data for the entire adult population of the United States. These actionable insights provide nonprofits, higher educational institutions, financial firms, and high-end luxury marketers with a deeper understanding of opportunities to reach population segments based on estimated net worth, cash on hand, investable assets, business ownership, giving capacity and history, interests and passions, and propensity to invest, spend, and donate, and much more.

WealthEngine’s proprietary scores and insights incorporate 250 million profiles of the U.S. population from over 50 unique data sources, across thousands of attributes, which are now updated on a monthly basis in one comprehensive platform. These profiles are easily accessible, activated and aligned with API’s that can be embedded into any campaign workflow.

Rapid Market and Customer Segmentation

Clients can use WealthEngine’s Market Potential Reports to determine market size, segments to target, and go-to-market strategies. The metro-specific reports display hard-to-find metrics in clear, visual segments to help organizations identify expansion potential. When used in conjunction with WealthEngine’s continually expanding database and new product enhancements, clients can fast-track their path to finding and prioritizing prospects who have a high likelihood of becoming customers or donors. Sample use cases:

  • Identify millennials who show signs of emerging wealth
  • Spot potential liquidity events before they happen such as high net worth business owners based on age groupings
  • Model who is likely to inherit wealth like children of high net worth individuals
  • Find potential donors based on giving capacity, donation history, and interests
  • Pinpoint real estate investors such as people who own 3 or more local properties
  • Locate new investors based on cash-on-hand, stock holdings, and accredited investor status
  • Identify growing families in need of new financial products or bigger real estate
  • Nurture buyers of luxury goods based on spending patterns with insights such as aircraft or boat ownership

Market Potential Reports may be requested from WealthEngine’s website: https://info.wealthengine.com/market-potential-reports.

WealthEngine Data Platform and Security Enhancements

CEO and Executive Database Updates

WealthEngine released its newest SaaS platform update, version 9.4. This release refreshes WealthEngine’s rich database, which now boasts over 171 million philanthropic and charitable donation records with half a million records being added monthly. More so, this release updates 324,000 officers, directors, executives and CEO profiles to help clients reach wealthy upwardly-mobile prospects.

Clients use WealthEngine to gain wealth-related insights that help identify and segment their most promising opportunities, by uniquely scoring every individual. For nonprofits, identifying donors with a history of giving to related causes or who have had momentous “life events” is critical for their survival in a post-COVID fundraising environment. Identifying accredited investors with specific cash-on-hand or net worth tied to their real-estate property ownerships are also strong indicators of wealth. These insights often become the backbone that enables an organization to know more about their prospects and make informed decisions that propel client expansion.

“With in-person fundraising dramatically curtailed due to COVID, WealthEngine’s insights helped us target a select group for a virtual gala. We raised $25,000 in 60 minutes from 50 people,” said Mandi Fleiner, Director of Philanthropy & Communications, Northern Nevada HOPES.

Cloud Security Enhancements with SOC 2 Type II Certification

As part of WealthEngine’s ongoing activities in platform security, the company today also rolled out its latest security enhancement: multi-factor authentication (MFA). Using freely available authenticator apps, clients can now have an extra layer of security to login to their account, in addition to their username and password.

The additional protection layer is a unique code that a user enters after typing in their password. This code changes every 60-seconds and is available via numerous authenticator apps that can be installed on their mobile device. Using MFA significantly reduces the risk of an unauthorized party accessing a client’s account.

Another component of WealthEngine’s security offerings include end-to-end encryption of client files transmitted for processing. For years, WealthEngine has enabled secure file transfer protocol for encrypted file transmissions. This secure process encrypts both the transmission channel and the file, often referred to in security circles as the payload. After a secure key exchange with WealthEngine, clients can encrypt files before sending them over WealthEngine’s encrypted file submission network, essentially creating a dual-encrypted transfer of data from clients to WealthEngine.

Improved User Experience, Performance and Scalability

Finding accurate information quickly is now easier with improvements to WealthEngine’s user experience. The newly designed tagging, filtering and sorting features provide an easy way to segment donors or clients. When combined with industry’s only Donor Pyramid Modeler, available to nonprofits within WealthEngine’s platform, it creates an automated way to segment current and future donors and prospects.

“WealthEngine’s consistent and customer-first innovation cycles enable us to deliver on one major release every quarter,” says Elizabeth Schiffmann, Vice President of Product Management at the company. “This ability to quickly respond to the evolving needs of data-driven customers is transforming how fundraising and marketing are executed. I’m pleased with our attentive focus on security in this release by adding MFA. Our clients benefit from our leadership in providing innovative solutions that offer data security and leverage machine-learning for predictive analytics.”

Millions Of Identities Enriched and Continuously Updated

WealthEngine’s Open API provides access to WealthEngine’s proprietary wealth intelligence database using any donor management (DMS) or customer relationship management (CRM) system. The company supports over 30 different CRM/DMS systems through its connectors that are available for all licensed users of their platform.

WealthEngine continues to pioneer the industry’s most comprehensive set of wealth indicators that data hub consisting the entire US population. A data platform for advancing social good through its innovative Wealth Data Hub that is a comprehensive, publicly sourced data that is compliant with current regulatory statutes.

“Once you have your foundational data, then the layering of platforms like WealthEngine and their WealthScore™ tool becomes even more critical because now you know how to reach your customers, you know what their WealthScore™ is, and you can make your data so much more powerful. WealthScore™ is an important indicator of someone’s buying potential. It allows you to find the right customers,” said Michelle Tilton, Vice President of Marketing for Infutor.

The company also released its newest version of its Salesforce Connector of the Appexchange, which provides bidirectional updates of new data and modeled scores continuously. This includes WealthEngine’s proprietary WealthScore,™ a single number between 1-100 that takes into account a prospect’s net worth, capacity, propensity, affinity and intent, to help organizations prioritize their top prospects easily. All WealthEngine clients will receive a new link to install the updated version of this connector.

2020 WE Prosper – 3rd Annual Customer and Partner Summit

The company announced it’s third annual WE Prosper Summit, a two-day event held virtually this year on Wednesday, October 14 and Thursday, October 15, 2020. The WE Prosper Summit is a gathering of thought leaders from global causes and brands that will feature key industry speakers including: Rohit Bhargava, Founder & Chief Trend Curator of Non-Obvious Company, David Raab, Founder of CDP Institute, Amir Pasic, Dean of the IUPUI Lilly Family School of Philanthropy, Tom Ahern, President of Ahern Communications, Ink, and Dave Chase, Owner of Chase Solutions Inc.

The theme of this year’s WE Prosper Summit is Growing the Pyramid. Thought leaders, experts, partners and clients will discuss the latest trends they’re seeing and best practices in raising more, while spending less considering the current climate. To register for WE Prosper Summit 2020 you can visit https://weprospersummit.com/.

WealthEngine also announced the beta availability of its industry’s first mobile app, which will allow national searches and scores at the fingertips of fundraisers and marketers. This app will support both Apple iPhone and Android(r) users and be available to all customers in October 2020.

About WealthEngine

WealthEngine is the industry’s premier wealth intelligence software-as-a-service provider. The company has been supporting more than 3,000 marquee customers for over two decades. The company enables industry-leading higher education, healthcare systems, advocacy, financial services, and high-end luxury brands and hospitality organizations in capturing and retaining tens of billions of dollars. Fueled by its proprietary wealth and lifestyle signals, WealthEngine customers measurably improve their personalization and effectiveness across fundraising, capital campaigns, marketing, segmentation and overall engagement with their audience.

Rooted in machine learning, with a cloud-native architecture, the WealthEngine 9.x platform boasts an entirely new user experience to provide wealth, demographic and lifestyle signals that come together to formulate powerful scores, WealthScores™ available in real-time. Underpinned by the company’s SmartAction™ technology, it pinpoints, predicts and helps personalize engagement with potential prospects. WealthEngine’s platform is the most convenient way to continually sense and respond to changing motivations for their audience to connect, invest, buy or donate.

WealthEngine is an active participant in Pledge 1%, regularly giving back to the community it serves through time, product and donations. Based in Bethesda, Maryland, the company has sales offices throughout the US and a wealth research and analytics team in India. Learn more at http://www.wealthengine.com.

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WealthEngine 9.3 Automates Donor Segmentation and Charts the Next-Best Connections to Prospects

WealthEngine announced today the release of WealthEngine 9.3 (WE9.3), an upgrade to its nonprofit version of its flagship platform which now includes unlimited screening and prospecting for one flat rate. The advanced prospect engagement platform, which features the industry’s first machine-learning-based Donor Pyramid Modeler with SmartActionTM technology to identify their next best action and a visual layout of their best connections to new prospects. The new features use WealthEngine’s predictive analytics, continuously refreshed data, wealth and propensity scores, and actionable insights to help organizations achieve their fundraising goals faster and more cost-effectively than ever before.

With over 165 million donor records in the WealthEngine platform and 500,000 new ones curated each week, users have access to the latest charitable, political and philanthropic giving information. Along with nearly a trillion additional data points, WealthEngine’s proprietary artificial intelligence and machine learning capabilities curate predictive scores and models that help fundraisers to proactively identify their next-best action to drive more revenue.

Donor Pyramid Modeler – the fastest way to segmenting your donor base

The Donor Pyramid Modeler enables organizations to segment their donors into fundraising tiers instantly. Campaign managers and fundraisers simply enter their fundraising goal and optionally adjust their giving thresholds and conversion rates to create a What-If analysis, or use WealthEngine’s benchmark settings, to see how many prospects are needed for each tier. The tiers include Planned Givers, Annual Givers, Mid-Level Givers, etc. and are customized at each level. The Donor Pyramid Model algorithm can be applied to any list of donors automatically to see who belongs in each tier, giving users an instant snapshot of their fundraising potential from existing donors and a fast way to find prospects with the right profile to achieve their total fundraising goal.

WealthScore – easiest way to prioritize your most-likely prospects

Organizations can now save even more time, cost, and effort by using one single score from 1-100 that takes into account a prospect’s wealth, propensity, intent, affinity and more. Users can apply this score to their prospects as well as existing donors to make informed decisions that identify the most promising new opportunities as well as determine which donors have expansion potential.

Leslie VanSant, Chief Philanthropy Officer at Rainforest Trust, notes how WealthEngine plays a critical role in converting small initial donations into major gifts. “We invited people of a certain propensity to give on a trip. They went on the trip and enjoyed it so much that they came back and gave a 5-figure gift,” says VanSant. “That proved to me within weeks of purchasing WealthEngine that this was going to help us do our jobs.”

Visualization of Connections – shortest path to reach next-best donors

A new visual connections display allows users to chart the shortest path to prospects by seeing who is likely connected through personal, nonprofit board and professional relationships. This single-pane view of connections includes the predicted strength of those relationships so users can identify people they already know who can make warm introductions.

Future releases will integrate 1-click fundraising email templates where users can directly enable their best donors to facilitate these highly personalized connections. Customers have seen 3x-5x increase in engaging with lapsed donors, renewed memberships and increased the lifetime value of existing donors.

“With new donors from #GivingTuesdayNow and increased philanthropy in response to COVID-19, WealthEngine’s clients will be able to segment their donors in the proper giving tiers instantly to identify who the right prospects are for planned gifts, major gifts, mid-level gifts and annual donors,” said WealthEngine CEO PV Bocassam. “The Donor Pyramid Modeler does all of the calculations automatically, which saves our clients weeks of time and effort and pinpoints specific highly valued targets. Combined with the power of curated connections to their best donors, clients can now engage potential donors with a personal touch.”

Real-Time Salesforce Nonprofit Cloud Integration – seamless bi-directional support

Evolving from WE9, this latest version of our platform easily integrates with Salesforce allowing WealthEngine to instantly append each new record added with their latest data, scores, and insights. The WealthEngine Insights for Salesforce certified app can be downloaded from the AppExchange and connected to a WealthEngine account quickly, allowing users to maintain their current fundraising and campaign workflow while enriching new and existing contacts with significantly improved scoring to help them prioritize outreach activities. Salesforce campaigns can also build and activate any predictive models, via our SmartActions™ API, directly from Salesforce.

Industry’s leading consultants and resellers who use WealthEngine’s data and models to provide informed recommendations to their clients can use the new Donor Pyramid Modeler and visual connections features to offer enhanced services that lead to more effective fundraising efforts.

“WealthEngine provides us with important data we need to develop smarter strategies for our clients’ fundraising efforts,” says Ian Swedish, Corporate Vice President at CCS Fundraising. “In particular, we find that the accessibility and quality of their wealth intelligence to be a leading solution in the marketplace. By integrating scores and ratings into our own tailored analytics work we are able to identify, segment and prioritize high potential prospects that are critical to attaining sustained fundraising growth.”

New Admin Module reintroduces “Per-User” Pricing – allows for easy user administration for large organizations

Among the many new features in WealthEngine 9.3 is the new pricing option which allows clients to screen and append all of their records for a flat price without incurring additional “per record” fees. The new pricing packages also include access to all 250M individual prospecting records each with over 1,800 attributes. This saves countless hours of time and reduces the cost to acquire a customer or donor dramatically, which is becoming ever more critical in today’s COVID-19 environment.

The platform currently ships with a pre-built “Look-Alike Model” and applies advanced machine-learning techniques to find their ideal prospects across all 180M households that fit that specific criteria. These models can also be user-defined on the platform or avail our WealthEngine’s Data Science services team to build custom models or scores that are specific to the organization needs. These pre-built library of models have a published API endpoint that can be called-back directly from any CRM/DMS application.

About WealthEngine

WealthEngine is the industry’s premier wealth intelligence software provider for more than two decades. We have been supporting more than 3000 industry-leading higher education, healthcare systems, advocacy, financial services, and high-end luxury brands and hospitality organizations in capturing and retaining tens of billions of dollars. Fueled by our wealth and lifestyle signals, our customers measurably improve their personalization and effectiveness across fundraising, capital campaigns, marketing, and overall engagement with their audience.

Rooted in machine learning, with a cloud-native architecture, the WealthEngine 9 platform boasts an entirely new user experience to provide wealth, demographic and lifestyle signals that come together to formulate powerful scores, available in real-time. Underpinned by the company’s SmartAction™ technology, pinpoints, predicts and helps personalize engagement with potential prospects. Unlike other point tools, our platform is the most convenient way to continually send and respond to changing motivations for their audience to connect, save, buy or donate.

The company is an active participant in Pledge 1%, regularly giving back to the community it serves through time, product and donations. Based in Bethesda, Maryland, the company has offices throughout the US and India. Learn more at http://www.wealthengine.com.

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