Recognising the impact of the COVID pandemic, the cost of living crisis and the ever-widening advice gap on financial wellness across the workforce, WPS Advisory were looking for a scalable technology-based solution to modernise financial advice, engage employees across different life stages and equip them with the tools and confidence they need to make smart decisions about their money.
VOXI is a mobile network operator powered and run by Vodafone, offering its customers great value and recognising loyalty. VOXI Drop is an exclusive customer loyalty and benefits programme, with monthly rewards spanning beauty, tech, food or fashion products and more.
In 2022, we began working with VOXI to streamline the application process for their VOXI for Now social tariff, which offers anyone in receipt of government benefits unlimited calls, texts and data at a discounted rate as part of Vodafone’s support for people in financial difficulty.
With over half of Gen Z expressing concern about their financial situation, VOXI was looking for a way to reiterate their commitment to their customers’ wider wellbeing, provide a way to help them understand and manage their money, and for VOXI to understand more about the people that buy from them.
We built on our existing partnership to offer VOXI customers 12 months of free access to our award-winning consumer app through the VOXI Drop initiative.
The app allows VOXI customers to connect their different financial accounts (current, savings, mortgages, pensions, credit cards, investments, properties and more) to view their entire financial world in one place.
From there, they can utilise an ever-growing suite of tools to help them understand their money and reach their financial goals, including; Spending Budgets, Spending Analysis, Savings Goals, Rent Recognition, as well as an array of educational content.
The response from VOXI customers and the market was fantastic, with recognition for VOXI’s dedication to helping their customers through the cost of living crisis.
Over 25% of licences were redeemed in the first week alone, and customers made quick use of the insights to help manage spending and set up savings goals, resulting in an average eightfold increase in savings pots within 6 months.
VOXI also receives anonymised, aggregated insights into the spending habits of their user-base, which they are using to support customer engagement strategies, and offer VOXI Drop rewards that are aligned to their customers’ interests.
“We’re delighted to build on our partnership with Moneyhub and underscore our ongoing commitment to supporting young people in navigating a challenging economic environment.
Now, more than ever, people need simple and effective ways to better understand and manage their finances. Paired with the unparalleled anonymised insights we now have into our customer-base and what matters to them, the rollout of this solution has proved to be a real win:win.”Scott Currie, Head of VOXI
Mercer understands the impact poor financial health can have on someone’s work life, and their retirement.
Mercer was looking for an innovative way to help support financial wellbeing for members of its Mercer Master Trust pension scheme.
It also wanted to make it easy for members to engage with and understand their pensions, and to view retirement savings in the context of their wider financial wellness.
“Developing the Money Mindset app with Moneyhub has been a game changer for us in the market. Pensions are one piece of the financial puzzle, and by providing a holistic view of their finances alongside educational content and tools, we’re empowering our members to make smart and confident decisions about their money.”
— Neil Hugh, Head of Workplace Proposition, Standard Life UK
Whether you want to create your own solution, or you want us to do it for you — we have the technology for it. Our experienced team is here to support you now and in the future.
