Gamification’s Place in Community Banking

Gamification is everywhere these days — from the way people buy their coffee to the way they learn to code, gaming has become an integral aspect of our lives that we can’t escape. 

Whether it’s the free smoothie after buying 10 or the miles earned on your credit card, people are motivated to increase their spending and their time spent doing something for the promise of a reward. But unlike a dog rolling over for a treat, well-designed gamification compels people to keep striving because the progress is on their terms. Users feel encouraged, not instructed, to explore and advance at their own pace, all the while knowing that some type of reward will be waiting at the finish line, whenever they arrive. 

While gamification is heavily utilized by commerce, food, and beverage companies to increase activity and sales among their customers, the strategy is beneficial for financial institutions, as well. Reward currencies such as miles or points earned for credit card usage are a long-standing example of gamification in the financial sector. Today, innovative opportunities have proliferated to implement gamification at your bank and encourage customers to increase their activity and interactions in a way that genuinely benefits both your business and their financial wellness. 

Zogo’s Gamified Model & Your Mobile Banking App 

The entire basis of Zogo is built on the concept of digital gamification — from our standalone mobile app to the way our partners utilize our capabilities, everything is designed to keep users and customers engaged, active, and continuously moving forward toward their goals. Now, with our new Mobile Banking Integration Loyalty Program, our gamified financial literacy model can live inside of your mobile banking app, weaving rewarding gamification into the fabric of your digital presence. 

Using bite-sized modules on 800+ financial literacy topics, Zogo encourages users to learn crucial financial information by incentivizing them with a reward-based system. Points are earned for completing modules and once enough points are earned, users can redeem them for gift cards to popular stores. With our Mobile Banking Integration, though, we can also customize objectives for your customers to complete in order to earn points and rewards. Whether you’d like to incentivize debit card swipes or opening retirement accounts, Zogo helps to gamify and make fun the daunting and convoluted aspects of banking. 

Gamification is a powerful tool across innumerable industries that’s worth looking into more than ever before. People are learning, earning, working out, and more in gamified ways, so why not embrace the movement at your community bank? 

To learn more about how Zogo can help your CB implement gamification, request a demo!