The rules of the financial industry game have changed and now newly emerging financial businesses have to think outside of the box to rise above their competitors and win as many loyal customers as possible. But is fintech gamification the way?
What is gamification in fintech?
Fintech gamification means assimilating gaming elements and mechanics into a non-game, fintech platform. Think, for example, a game in which you earn rewards depending on where you shop, such as unlocking new features when proving your industry knowledge, and gaining points when you save money. The most exciting part? All of this based on your actions in the real world.
Does fintech gamification work?
Yes! It can work because the principles behind gamification are rooted in human psychology. People naturally tend to desire to overcome challenges, win competitions and feel accomplished. Including game elements into a fintech platform prompts the customer experience to become more immersive, engaging and overall positive.
In a world where half of the people perceive their relationship with their financial institution as lacking emotional attachment and not rewarding or fun, according to the ‘Voice of the Customer’ survey, creating engaging and rewarding customer experiences through gamification might be the key to unlocking customer loyalty.
But before taking your fintech to the next level by incorporating gamification into your business model, you need to understand the rules of the gamification game first. Is fintech gamification the right path for your fintech company? Find out the answer at Fintech22 Forum.
The best place to start? Join Kieran Warwick, Co-Founder at Illuvium, at Fintech22 as he introduces you to this topic in his ‘Play to Earn or Play and Earn? Deep-dive into the future of gaming’ keynote.
Fintech22 showcases Australia’s leading FinTech products, services and firms, and features industry panels and enaging keynotes presented by industry experts, CEOs, founders, entrepreneurs and executives of major blockchain, emerging tech and fintech companies.
Other high-profile speakers at Fintech22 include:
Attend FINTECH22 Sydney to:
- Hear from FinTech experts and learn how business innovations can elevate and grow your business
- Create new connections with major players and thought-leaders within the industry
- Network within the fintech, blockchain and crypto communities
- Build upon existing connections with top decision makers
Don’t miss out on what the future holds for you and join us at Fintech22 Sydney Masonic Centre, Sydney on 30 Nov-1 Dec 2022.
By: Giovanna Silva Altemani