Virgin Money’s Post

There is a lot of overclaim and double counting in the world of on line commerce and retail media. Ipsos iris data, the industry standard, overseen by UKOM is the source of truth and genuine insight. UKOM Ipsos UK #Trust and transparency

🚨 Daily Update: Nationwide and Virgin Money combined could surpass leading UK banks in online reach With Nationwide's impending acquisition of Virgin Money, their combined online audience is poised to reach 11.9 million, capturing 23.8% of the UK's online population. This strategic takeover would eclipse the online reach of top competitors, with Santander drawing 11.3 million, Barclays attracting 11.3 million, and NatWest engaging 10.1 million users. March 2024 data from Ipsos shows Nationwide already commanded a significant presence with 19.4% of the UK's online audience, equivalent to 9.7 million users, compared to Virgin Money's 6.6% or 3.3 million users. This calculation considers potential overlaps in customer bases, assuming all customers remain with their respective banks post-takeover.

Along the theme of 'everything is an ad network' (h/t Eric Seufert) it's been interesting to observe the growth of financial media networks (FMNs) over the last few months, with the likes of Paypal, Chase and Revolut all muscling into the ad game. In our latest industry trends report - focused on the Financial Services category - we've written about this trend, as well as the impact of climate disasters on the insurance sector, declining loyalty to banks, the growth of open banking and efforts to improve financial literacy among younger generations. Link to the full report (WARC subscribers only) in the comments.

New research from our Evolution of Marketing program, which explores emerging trends affecting marketers. This report looks at the financial services vertical, looking at the impact of key trends for the sector. - Development of Financial Media Networks - Impact of climate change on insurance companies - Decline in loyalty to banks - Open banking - Financial literacy for young customers Lots of useful data, analysis and insights to read through for WARC subscribers.

This is so amazing. Being in digital poverty means lack of access to a suitable device, the skills to do what you need online, as well as the connectivity to get online. Finding where to access that connectivity is a challenge, so it's fantastic to see this collaboration, and bringing access to our high streets. #digitalpoverty #digitalinclusion #digitaldivide

IF YOU’VE EVER: - Raved about Monzo on a date - Sent a Monzo request because you felt too awkward to ask for £6.50 back - Used a Pot to save for something - Ruined family dinner by trying to get your parents on Monzo - Kicked your feet and giggled like a child when the ‘Your money is waiting for you!’ notification popped up - Begged us for a plushie - Laughed at our Linkedin posts - Used Monzo to pay for literally anything Then we need your help! We’re in the final list of nominees for this year’s British Bank Awards, and the winners are picked by customers like you. There’s also cash up for grabs - if you vote, Smart Money People will automatically enter you in their prize draw for a chance to win £1,000* 🤑 Voting closes April 16th so get your votes on for us to win: Best Current Account Provider: https://lnkd.in/etSiEq9s Best Business Banking Provider: https://lnkd.in/eA2vvJtp Best Credit Card Provider: https://shorturl.at/xGT01 *Ts&Cs apply: https://lnkd.in/eEvb8vTj

Do you have a passion for payments? Join us for FTT Payments on 21st May at etc.venues 155 Bishopsgate, London as we explore how the future of payments will evolve to meet the needs of customers, businesses and economies. The topics and experts sharing their experience and views will delight all of those with a passion for payments and will feature in depth discussions of the technologies, changing customer behaviour, regulatory drivers and new business models shaping the future of payments. Key themes include: 👉Digital transformation in payments 👉Creating payments systems that are secure, cost effective and inclusive 👉Understanding the technologies driving change 👉Addressing the challenges of cross-border payments 👉Fighting the fraudsters Join a similarly passionate community of innovators across payments and beyond as registration will also open the doors to 3 co-located events. FTT Embedded Finance & Super-Apps, Customer Alpha and Future Identity Customer bring together an exciting community of potential partners and fellow changemakers. 🔔Technology and service providers can save £400 with the super early bird rate before Friday 15th March. Grab your pass HERE: https://bit.ly/42q6kFY #FTTPayments #FintechTalents NatWest Boxed ClearBank Marqeta Alicia Condon Charlie Onions Lisa Moyle Victor Cruz Alexandra Green Anna Kochanova

It’s been a big first half of the year with a strong performance across Virgin Money as we ready ourselves for the next phase of our future ❤️    Some key headlines for the first half of 2024 👇   👉 We’ve made good progress and maintained a strong capital position. We’ve seen growth in our target lending segments and resilient margins. We’ve also continued our focus on driving down cost, and our credit quality is solid.   👉 We’ve continued to enhance our customer service, with our award-winning virtual assistant Redi supporting over one million customer conversations.   👉 We’ve also taken a step closer to our single app, with the first deployment into our credit card app leading the way for more enhanced features to come. See our full H1 2024 Trading Update here: https://lnkd.in/dF3x8X8r   #FinancialResults #VirginMoney #VMUKResults

Zag It doesn’t take much to look at every ad for financial services and spot the category tropes and cliches. https://lnkd.in/gNVmUMrz To see the handshakes and lose count of the endless mentions of goals. The smiling faces of bankers. Notice the similarity between the different bank branches and those endless close-up shots showing similar functionality of their apps. Financial services ads are all about “them” and very little about “me”. They're pushing products. They're not talking about money "feels." Then we all know that survey after survey tells us how money makes people feel anxious and fearful and that they often worry about it. https://lnkd.in/gzCcPRSd So let's not look anything like the category and then let’s talk about the “M” word, rather, let’s show how it feels - the bad and the good- which is how it feels with us because our business is about making money easy. Then let’s remind ourselves of Byron Sharp's distinctive assets- https://lnkd.in/gbE_9kKU let's use our color- coral red that's not bank blue and our name which almost looks and sounds like money. This is what Uncommon Creative Studio did for Monzo. It makes you wonder why there are so many sheep and so few zaggers? #zag #money #banks #banking #money #fintech #financialservices #advertising #marketing #brand #branding

This is a good ad. And here’s why 👇  ⚡️It challenges that a relationship with your bank can be a good one, even a loving one ⚡️By tapping into the human truth of how consumers feel about money and their money in traditional banks ⚡️It challenges standard category cues – it doesn’t feel like an advert for a bank, so the repetition of the word ‘money’ does the heavy lifting and connects us to finances ⚡️Unlike other bank advertising which focus more on the human need for certainty (i.e. your money is safe), Monzo focuses on the need for growth and the development and improvement of one’s financial well-being ⚡️It cuts through with striking colours, emotive music that builds in pace and clever copy ⚡️The clever use of shifting images, tonal changes between the money images and the Monzo images and the music evokes a strongly emotive reaction that is positive and empowering ⚡️The message is simple: finances don’t have to feel so hard It smashes Embark’s 4 communications testing KPIs:  ✅             Be memorable ✅             Illicit emotional reactions ✅            Drive a desire to act ✅             Resonate and be understood Superb work Monzo Bank! Anyone seen any other brilliant ads you can share? https://lnkd.in/dwF7Ma22