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Game Level #4
Why Gamification? The customer has spoken with a leading
survey showing more than enough evidence in support of
gamifcation. In a survey conducted by Corporate Executive
Board, covering 7K users and interviews conducted with
hundreds of marketing executives the consumers voted for
“simplicity” – i.e., the ease with which they can gather
information about the product or service, trustworthiness of the
information, and of course how easy it is to onboard new
product or services.
For example, in the early part of the product lifecycle,
gamification techniques can make it easier for new users to
understand the product and keep their motivation high (using a
system of rewards) and thus help in faster on-boarding.
Gamification is being used across industries as diverse as
consumer goods to financial services. Specifically, financial
institutions and banks are adopting gamification to achieve
different goals such as driving self-service, reducing opex and
encouraging savings habit. Especially in new financial
product/service launches, where user's perception of trust,
comfort level and anxiety play a big role in the adoption of
service gamification techniques can help in reducing adoption
barriers by building the comfort level necessary for increasing
adoption. Growing use of internet and mobile banking is
fuelling the adoption of gamification in financial services.
Here's a list of some Gamification use cases in banking and
financial services industry.
Absa Bank – Shesha (quick-quick)
Absa, a South Africa bank, succeeded in engaging low-income
customers in a gamified program called 'Learning by doing'.
The gamified program engages customer in the form of quiz.
a) The quiz focussed on checking account balance with an
airtime prize rewarding the best answer.
b) The game also engages and challenges the customer to
check their account balance on their phone. The customers
are rewarded with large cash prize.
By gamifying the self-service experience the bank was able to
reduce the length of the customer queue on weekends and
month-ends. It was assessed that the cost of Gamification could
be covered by the amount saved because of reduced customer
footfall in the branches. The balance check activity of participants
increased from 0 to 54% in the first two months after completing
the game and 61% six months after playing the game.
January 2016
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