Is Mobile Banking boring? Not necessarily.

Gamification in Digital Banking Solutions

The importance and usage of Mobile Banking Apps have greatly increased in recent years, making them a central contact point between clients and banks. Typically, users interact with these apps only as long as necessary, primarily for transactions or checking balances, rarely associating them with fun. We believe it’s time for a change with Gamification in Banking Apps.

The latest study from Lucerne University of Applied Sciences (HSLU) highlights a significant trend: more Swiss people are accessing banking services via mobile devices than ever before. By the end of 2022, mobile logins accounted for 62% of all access, with figures reaching above 80% at some banks. The 2024 edition of this study suggests that traditional banks are keeping pace with fintechs, even topping popularity charts. This sets the perfect stage to elevate mobile banking further.

Making banking enjoyable

Modern digital banking solutions already offer extensive functionalities, basically anytime and anywhere the client wishes to use them. They are also secure, simple and convenient. But the real question is, are they fun?

"The goal of mobile banking should be to serve practical purposes as well as to motivate and inspire. Crafting an integrated and seamless user experience can enhance client satisfaction and loyalty, distinguishing banks from competitors."

Martin Meier

Head of Strategy Digital Banking, Digital Banking

While banks used to be perceived as formal, traditional, and rather boring, entertaining banking apps were not on the expectation list so far However, recent trends and industry developments such as super apps or AI banking assistants are paving the way especially for GenNext clients – to be open to a more engaging and dynamic modern banking world. Financial service providers can, therefore, be bolder in the (further) development of their mobile banking services and put people at the center.

Injecting emotion into user experience

Emotions resonate deeply with users, offering a sense of understanding and care. They facilitate quick, intuitive decision-making. Since people, not robots, utilize financial products, our solutions aim to evoke positive feelings, fostering a strong emotional connection.

An easy way to boost user engagement and make banking attractive and exciting is to develop digital banking applications through gamification. Understandably, there is a certain reluctance in the industry to offer such services. After all, you don’t want to be perceived as too playful or even unprofessional. However, being boring is not an option either. Professionalism and entertainment are by no means mutually exclusive.

Gamification: The game changer

Consider how games work – whether it’s chess, soccer, or card games – they all involve scoring points within set rules, competing, and collaborating. These elements can be just as effective in non-gaming contexts like banking.

What is gamification in banking?

Gamification applies game-like mechanics to enhance engagement within the mobile banking app, boost interaction, and increase loyalty. It combines elements of behavioral economics and design to create a compelling experience.

Benefits of gamification

Gamification allows banks to engage with clients playfully and engage them. It’s clear why this approach is effective. Humans naturally enjoy games. We like to compete with others and appreciate rewards for good performance. And we want more of it. So, we return to where we get the reward – into the mobile banking app. With gamification, the joy of discovery is stimulated in users; they linger longer in the app, explore, and find new offers without being pushed by the bank – client satisfaction increases. In the best case, they tell potential new clients among family and friends about it and inspire them as well for the app or the bank. Financial service providers thus gain clients they might never have reached with their services alone. Moreover, thanks to gamification, banks strengthen client relationships, increase client interaction, solidify their status as the main bank, clearly occupy the client interface, and stand out from the competition.

Real-world success stories

Examples abound of successful gamification in banking: Emirates NBD incentivizes fitness with higher savings rates, Fortune City gamifies savings goals with city-building, Acorns rounds up transactions for investments, and Monobank uses gamification from the very start, enhancing client engagement across all touchpoints. The download and rating numbers of all mentioned mobile banking apps speak for themselves.

You can embrace digital banking services to the extent you choose. Together with our partner Blindflug Studios we are ready to help you inject more fun into your mobile banking experience.

Contact our expert today

Tobias Ott

Head of Sales, Digital Banking

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