Vanquis Bank has launched a new research-driven PR campaign to showcase the pressure on British households grappling with the cost of living.
The “Heart of Working Britain” campaign is based around a new financial wellbeing index which the bank has created to show the “financial realities” facing British workers earning less than £40,001.
“The Vanquis Financial Wellbeing Index, grounded in real life transactional data, offers timely insight into the financial challenges faced by those earning up to £40,000 a year,” the bank said in a statement.
“By tracking real spending behaviour and the impact of household bills, the findings shed light on the financial realities faced by this group.”
The campaign comes nearly two months after Scott Mowbray was announced as the company’s new external communications lead. Mowbray joined the group through the bank’s acquisition of Snoop a year earlier. He previously successfully spearheaded comms at Virgin Money.
In the new campaign, Vanquis said it will be releasing regular updates to the index, with the next one scheduled for February 2025.
“Despite rising costs, many hard-working individuals are managing to keep a small financial surplus,” said Ian McLaughlin, chief executive officer of Vanquis Banking Group.
“Modest year-on-year income growth supports stability, and even in challenging times workers continue to adapt resiliently to evolving economic conditions.”
The research backing the index is based on transactional data from 1,151 consumers, which the bank hopes will give an accurate view of consumers’ real-world financial behaviour across essential and discretionary spending categories.