Gamification in Banking


Based off of the article: What Is Gamification And Why Is It Good For The Banking Sector?


Zealic's Cliff Notes

"Gaming creates positive emotion, drives social relationships and fosters feelings of accomplishment, by combining banking with fun, personalized and reward-based games."


"New figures from CACI revealed that mobile transactions are set to rise by around 121% between 2017-2022, and the average branch visits dropping from seven to four by 2022."


Banks now need to find a way to engage with their customer base in order to encourage loyalty in an increasingly competitive industry.


Gamification in Customer Experience

"Back in 2011, Gartner predicted by 2015, more than 50 percent of organizations that manage innovation processes will gamify those processes."


In 2013, Spanish bank BBVA incorporated gamification into its customer experience. Their platform allows their customers to do all of the things that a modern banking app allows users to do but it also introduces gamification into the mix. When the user completes a transaction in the app they earn points. They are also presented with challenges and missions for them to participate in where they can earn medals and badges.


BBVA invested in the development of Atom that strives to give users their individuality in their application by giving them the ability to customize the app to their preferences.


Want to read the whole article?

Check out the full article in the link below:

Source:

Finance Monthly

Originally Written by: Karen Wheeler

https://www.finance-monthly.com/2017/08/what-is-gamification-and-why-is-it-good-for-the-banking-sector/

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