Bank compensation scheme appoints Mindshare

LONDON - The Financial Services Compensation Scheme has appointed Mindshare to handle its £4 million communications planning account.

FSCS...appoints Mindshare
FSCS...appoints Mindshare

Mindshare will plan an awareness campaign to build the profile of the FSCS, which pays out compensation to consumers in the event of the collapse of a financial institution.

The WPP agency landed the business following a pitch through the COI against Arena BLM and Naked Communications.

A pitch for a creative agency is likely to follow.

The FSCS paid out a record £21 billion compensation in the six months from the end of September last year.

Its level of compensation increased from £35,000 to £50,000 per saver last year when the Icelandic banks Kaupthing Edge and Icesave collapsed.