Usage of game mechanics in a banking application | Concept

Game mechanics are used for a number of different tasks.

For banking products, such tasks could be:

Build up deposits;
Increase the number of transactions;
Encouraging savings habits;
Make complex products easier to understand;
Collecting information about users
and a range of other objectives.

Which mechanisms are included in the product and in what form is determined by the objective, the metrics and the economic feasibility.

Case #1: Increase the number of customers attracted by the "bring a friend" mechanism (referral system)

Task

Attracting new customers to the product.

Motivation

The monetary reward for the person who invited and the person who was invited.

Metrics

Number of invitations sent, how many new clients came as a result of the promotion, how many came and started using the bank, how many came but then dropped out.

Simple implementation

Send the link to install the application to a friend and receive $50 to your account; your friend will receive the same amount once he or she has registered and issued a debit card.

Implementation using game-based mechanics

For someone who sends invitations

An increase in invitation rewards per level;
Badge based on current level;
A history of all the invitations sent, with their current status and an option to remind a friend to complete the process to receive all the rewards;
Leaderboard to see how many new people other users have invited to the Bank;Tips on how to invite friends more effectively;
To make it easier to convince friends to join, we provide a list of the benefits of the bank with the link.

For someone who receives invitations

Part of the reward is credited immediately (e.g. a third);
the remaining part will be credited after completing additional tasks. Each time a task is completed, part of the reward is credited to the account;
Tasks can vary from monitoring a post about the bank to making transactions for a certain amount of money;
For a deeper dive, you can increase the stakes, which will increase the task requirements and the number of tasks, but also the reward.

Case #2: Increase the number of user transactions from the debit card

Task

Increase user activity (number of transactions)

Motivation

Cashback for transactions

Metrics

Increase number of transactions for inactive users

Simple implementation

Fixed cashback on categories selected from a specific list

Implementation using game-based mechanics

Option 1: At the beginning you choose 1 or 2 spending categories with a higher cashback. Then, after a certain amount of spending, you can choose another category, then another, and so on.

Option 2: The same, but the more you spend, the more cashbackyou get.

Option 3: A basic 1% cashback on everything. Then, after a certain interval of money spent, the game is activated, which may fall out of a category for increased cashback or instant cashback of 1, 2, 5 dollars, depending on what was the total amount of transactions.