Case studies

Vodafone partners with Moneyhub to use open banking to assess customers for affordable mobile tariff

06 November 2024

Mobile network operator Vodafone launched ‘VOXI For Now’, the UK’s first mobile social tariff, back in 2020 initially to help support people who had been affected by unemployment following the pandemic.

However, the popularity of the service prompted Vodafone to extend the tariff to individuals receiving Jobseeker’s Allowance, Disability Allowance, Personal Independent Payment, Employment and Support Allowance, or employment-based Universal Credit.

Vodafone had initially used a manual system to check applicants’ eligibility for the tariff, but as demand for it grew, it became clear that the team needed to speed up onboarding for customers, as well as streamline the time and effort spent on administration.

Open banking solution
The VOXI team worked with FCA-regulated fintech firm Moneyhub to provide an open banking-powered solution to reduce friction in the eligibility-checking process, enabling eligible applicants to access the tariff quickly.

Open banking solution
The VOXI team worked with FCA-regulated fintech firm Moneyhub to provide an open banking-powered solution to reduce friction in the eligibility-checking process, enabling eligible applicants to access the tariff quickly.

One-off consent

As part of the sign-up process, applicants are asked to give Moneyhub one-off consent to access their benefit-receiving bank account(s) via an open banking connection. This checks for evidence of benefits being paid into their account.

Within seconds, Moneyhub’s Eligibility Checking technology can verify what state benefits applicants are receiving, and notify the VOXI system if they are eligible for the social tariff. Importantly, the verification process doesn’t affect individuals’ credit scores or involve any data sharing or transfers between the two businesses.

With near real-time verification, Moneyhub’s platform has enabled eligible recipients to access the social tariff in a much shorter time frame.

Scott Currie, Head of VOXI at Vodafone, said: “We launched VOXI For Now to help those who need it most, providing unlimited data, calls and texts at a heavily discounted rate for those receiving government benefits.

“Utilising Moneyhub’s open finance technology, we have been able to streamline the automated eligibility checking. This means VOXI customers no longer have to wait for a manual verification; which means we can get people who are typically financially underserved connected to the services they need faster.”

Scott Currie, Head of VOXI, Vodafone

Supporting financial education

VOXI has also partnered with Moneyhub to offer customers 12 months of free access to its consumer app (which usually costs £14.99 a year) through the VOXI Drop initiative – a customer loyalty and benefits programme with monthly rewards spanning beauty, tech, food and more.

The Moneyhub app allows VOXI customers to connect different financial accounts – current, savings, mortgages, pensions, credit cards, investments – to get a clear picture of all their finances in one place. They can also choose from a suite of tools to help them understand their money and reach their financial goals, including budget management, spending analysis, savings goals and rent recognition.

With Moneyhub’s recent financial wellbeing research* revealing that more than 50 per cent of Generation Z were concerned about their financial situation, VOXI wanted to support its customers’ financial health, and enable them to better understand and manage their money.

The results

The response from VOXI customers has so far been positive, with customers making quick use of the insights to help manage spending and set up savings goals. This has resulted in an average eightfold increase in savings pots within six months of using the dashboard.

VOXI also receives anonymised, aggregated insights into customer spending habits, which it uses using to support customer engagement strategies, and offer personalised VOXI Drop rewards.

“We are delighted to be partnering with VOXI by Vodafone to help get this technology into their customers’ hands. Through the cost of living crisis and beyond, consumers need simple and accessible ways to manage their finances which focus on supporting financial wellness.

Dan Scholey, Chief Commercial Officer, Moneyhub

He continued: “VOXI offering access to the Moneyhub app via VOXI Drop has the potential to make a significant difference to their customers, as it can genuinely help people better understand their finances and embed healthier money habits now, and for the long term.”

*About the research: The research was commissioned by Moneyhub and conducted by Censuswide with 2,000 Nationally representative general consumers between 27.10.23 – 31.10.23. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.