Factary and WealthEngine launch two new prospect research products
Howard Lake | 17 January 2006 | News
Prospect research specialists Factary and fundraising data analysis company WealthEngine have launched Factary WebService and Factary WealthPreview for UK fundraisers.
Both Factary WebService and Factary WealthPreview are powered by WealthEngine’s data. Factary WebService gives fundraisers information on more than one million people in the UK, and Factary WealthPreview shows fundraisers their best donor prospects for middle and high-donor programmes and for legacies.
According to Chris Carnie, founder and Director of Factary, the two new products bring the best of US-style data availability to the UK market.
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“These products create a revolution in fundraising and prospect research in the UK”, he said, “giving UK nonprofits access to the quality and quantity of data available to their US counterparts. WealthEngine’s expertise in data mining and presentation – the company is the largest of its type in the world – is going to change UK fundraising for ever.
“British nonprofits can now find and understand their best donor prospects in real time and online, and that means better fundraising, better donor service and much better research.”
Factary is promoting both products as relevant to fundraisers in mid-size and large organisations, including charities, universities, schools, clubs and associations, arts and cultural organisations.
Factary WebService powered by WealthEngine offers subscribers online get access, 24 hours a day, to information on more than a million people in the UK. Key information includes company directorships, house values and ownership, biographic information as well as philanthropic data. Data suppliers include Dun & Bradstreet, Experian and Marquess, alongside Factary and others.
Factary WealthPreview offers a screening service which can flag up donors on a charity’s database who, whatever they are giving now, are capable of a much larger gift or a legacy. Factary claims that the large dataset it offers should achieve far better hit rates than currently possible. The company reports that in trials the new product achieved “40-50%” hit rates”, well above the typical “0.5% to 3%”.
Factary adds that “all of this is available at about the same price that charities were paying before for the much more limited conventional screening.”
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.