The Power of Play and The Gamification of Banking
The Power of Play and The Gamification of Banking
The Power of Play and The Gamification of Banking
By Andrew Latham
October 2, 2020
Summary
From team sports to puzzles and video games, people love games.
Gamification uses gameplay principles and game design elements, such as scoring, winning, and competing, in a non-game environment.
Games are excellent at replicating the real-world situations that provide us with the rewards we crave.
There are several theories to why games create such motivation, but it is widely accepted that you need three main ingredients to maintain motivation: interest, skill, and autonomy.
Game elements can foster friendly competition and present the promise of rewards.
BBVA became a pioneer in finance gamification with BBVA Game.
Such as Commonwealth, specialize in developing financial wellness games, such as Farm Blitz and SavingsQuest, to educate users through play.
You can create your own financial challenges and games.
Can you eat out for less than $5, or buy/make your spouse a thoughtful gift for less $10. Savings games.
More conservative sectors, such as banking, were initially skeptical about using games in their businesses.
Reference
Latham, A. (2020, October 02). The Power of Play and The Gamification of Banking. Retrieved October 06, 2020, from https://www.valuewalk.com/2020/10/power-play-gamification-banking/