Millions of dollars and years of debt are unnecessarily added on to the mortgage borrowing of many New Zealanders because we just don’t think about them in the way that we really should.
As BNZ’s mission is to help people ‘be good with money’, this is a situation that simply couldn’t be ignored.

With the Home Loans market growing at nearly 8% per annum, yet BNZs share declining, the time was right for a concerted effort.

Rather than follow category conventions and just talk interest rates and freebies, it was recognised
that a unique voice and approach to disrupt the market needed to be found in order to punch above the Bank’s weight and shift consumer behaviours.

In collaboration with the Reserve Bank, millions of dollars in real, shredded cash was accessed and put directly into people’s hands. The now worthless money was repurposed as a wake-up call to highlight the potential wastage each homeowner is likely to be making.

DM packs of the actual shredded money were created and sent out to prospects. PR and experiential combined to deliberately disrupt the market and trigger cultural conversation. Targeted social was employed to further drive one-to-one engagement and broadcast channels were utilised to drive reach.

After a period of steadily declining Home Loan enquiries, and in a highly competitive and growing category, a 23% uplift in leads was achieved which drove BNZ’s biggest year of lending.