The FCA had approved the £42m bank-funded advertising campaign three weeks ago to be spearheaded by M&C Saatchi in creative development. While Claims Management Companies have long spread word about PPI claiming and the actual claims process, the FCA’s camppaign may primarily focus on those who have yet to make a claim or are confused as to where to begin with the PPI claims process.
The FCA will likely use targetted advertisements from Google, specifc for every location. These advertisements may talk about recouping all your billing statements and presenting it through a call or letter addressed to your bank. It is also likely to discuss claim result concerns with the FOS once finished.
Social media and heavy image-oriented guides may also surface in the next few years before 2019. Infographics — a great medium for most guides — may be useful for those who may find difficulty understanding the PPI claims process and rejection of valid complaints by banks. Videos are likely medium as well — useful for elderly claimants who may not be too tech-savvy.
The FCA intends to use the PPI claims awareness campaign as a dedicated public service announncement to justify the impending PPI deadline by June 2019, as proposed. However, the FCA has yet to approve the deadline, giving banks cold comfort. The regulator cited it is still evaluating all results of its consultation with banks and consumers.