British fintech pioneer borofree, which offers employees a new way to gain access to a proportion of their salary ahead of payday, has appointed Diffusion as its retained PR and communications agency to spearhead its consumer, corporate and B2B trade PR programme in the UK.
borofree, which is interest free, charge free and cost-free for both both employees and employers, was created to support people who need that bit of extra help, whether it’s budgeting for household goods at the start of the month or to help with urgent or emergency spending.
borofree has already partnered with over 50 major retailers and brands including John Lewis, Tesco, Asda and Amazon to provide salary advance through retail gift cards that can be accessed through its app and redeemed in-store or online. Repayment of the salary advance amount then happens automatically when users next get paid, with employers also able to join the borofree platform at zero cost to them.
Diffusion’s campaign will focus on a series of creative campaigns to build brand awareness of the salary-advance solution, showcasing how it can prevent users from going down alternative routes such as payday loans, which come with high interest rates and often lead to increased levels of debt and stress. It will also highlight how employers can support hard working employees by improving their financial wellbeing and confidence, and its positive impact on productivity and staff retention within the workplace.
The campaign strategy has been designed to reach both the consumer and B2B audiences, and will include a mixture of integrated creative initiatives, thought leadership, brand ambassador campaigns, reactive issues commentary, corporate profiling, features and ongoing press office.
Carmen Mason, Chief Marketing Officer at borofree commented: “For too long, hard-working people have been dragged down by the domino effect of bad debt, meaning bad credit and worse terms. borofree was born out of a desire to break this cycle. We needed an agency partner that could help us challenge the status quo and communicate our proposition as a genuine alternative to payday loans and buy now pay later schemes, built on innovative tech. It was this ethos, combined with a proven track record in helping high growth companies and experience in delivering high-impact campaigns that drive behaviour change and generated measurable results that attracted us to Diffusion”.
Daljit Bhurji, CEO and co-founder of Diffusion commented: “borofree is transforming the way in which people can borrow in a responsible and ethical way, empowering them to be more financially secure and independent. Diffusion has deep experience and a passion for working with innovators that strive to disrupt the market. We work with companies that solve social issues and want to do good. A British fintech startup with a strong global expansion strategy, borofree is using tech to give people back control of their financial well-being and prevent cycles of debt. In a world of unethical and unjust financial solutions, we are thrilled to be working with borofree on their mission to create better, fairer financial service with true human value.”