Reshaping Digital Banking With Gamification Of Mobile Apps

The pandemic led to an exponential surge in people using digital banking. Banks are therefore starting to ponder on innovating the customer’s experience on their official digital application. Gamification has been on the top of the list of these strategies that enable finance stalwarts to gauge market performance and learn more about their customers. Gamification is a technique that follows the principles of games and applies them in an indent to engage the customers.

In finance, the solution aims to encourage people to progress towards their goals while effectively managing finances, with the help of game mechanics to invoke motivational affordance and invoke psychological instincts for the investors and customers, leading to substantial behavioral outcomes.

Gamification in Banking App

Gamification holds enormous potential in banking and can amplify CX for customers significantly. Following are some areas in digital banking where this technique can be used:

• Enhanced customer engagement: The gaming techniques can be implemented to make customers devote more time to their apps by tracking their session times. For instance, a monthly giveaway reward to the most active customers. 
• Introduction of new offerings: Banks can offer information on new services interactively through short animated videos and games.
• Boosting confidence in credit: Trivial gamification techniques like informing customers of a rise in their credit score as they pay a timely installment may result in boosted customer loyalty.
• Simplify banking operations: Easier banking processes enable you to enhance the financial literacy of your customer. Exclusively designed games based on wealth management and case studies can be created for immediate impact on customer experience.
• Root for the new markets: As for the millennials, gamification appeals to them like no other, and bringing it on board can help you target many millennial customers and gauge their needs and expectations in terms of your services.
• Gather customer insights: Games can help you analyze various behaviors of your customers such as risk appetite, specific interests such as brand preferences, spending behavior, and more.
• Enable quick digital transformation: A digital onboarding video game can help simplify the orientation program for new employees and the bank’s customers.

Conclusion

For any business, the engagement of their employees, customers, and stakeholders is what drives growth in a digitally elated world. Hence it is vital to offer them an in-depth and empathic experience besides clear and valuable information. This will enable you to earn their trust and drive investments into your company. To know more about the technology, get in touch with a banking mobile app development agency or a web development company.