Moroku gamification of banking

BANKING GAMIFICATION

Make mobile money fun and rewarding to drive

• activity• revenue

• CEO Colin Weir: Global banking start-up entrepreneurIn depth Financial Services Industry experience

• Focus on banking and payments• Extensive Retail Banking Gamification project experience

• Design apps• Build apps• Integrate and deploy securely• Selected by Misys as their gamification OEM

• Cloud based service on Salesforce for rapid and large scale deployment• Global coverage

Overview• Combines the best marketing, motivational psychology and gaming

strategies to drive consumer engagement• Analysts and big brands all concur • Perfect for banking where we are introducing new or complex ideas that

lack volition and faculty• Moroku is a specialist banking gamification provider• Goal: To be 10% as fun and as engaging as the best video games!

"A child's greatest achievements are possible in play, achievements that tomorrow will become her basic level of real action." Lev Vygotsky (1896-1934)

What sort of things are Fun?• Winning• Problem Solving• Exploring• Chilling• Teamwork• Recognition• Triumphing• Collecting• Surprise• Imagination• Sharing• Role Playing• Customisation• Goofing Off

Self Actualisation

Self Esteem

Social Desire

Safety

Physiology

Take time to really investigate your customers needs

Stimulus

Behaviour

Consequence

Learning

Social Media

• Facebook, Instagram, LinkedIn et al have become enormously successful

• Why?– Maslow– Dehumanisation of CX

Gamifi cati on is ..

• Application of game theory to applications• NOT making games • IS embedding game design • Purpose: Get more customers to do more and encourage their friends to join • Capacity to teach and overcome fear• An ongoing strategy• Engagement, loyalty and branding. • Uses

• Game Design - What’s the journey?, What are the rules? Where is the fun? • Game Mechanics - Points, badges, prizes, rewards, etc.

Principle Description Mechanic DescriptionOn-boarding

Guiding people through the registration process

Points Activities accrue points

Progress Reminding players of their progress towards goals

Badges Milestones rewarded with badges

Present Bias

Providing immediate reward for activities that otherwise reward in the future

Leader-boards

Points position players on a list

Mastery

Provide real financial skills not just conceptual or virtual

Quizzes Questions build and test skill

Balance

The right balance of skill required to play the game

Surprise Random behaviour rewards of points

Surprise Keep people engaged by surprising them

Countdown Proving the time left till an event

Analysts

IND 70% of bankers feel gamification could be appropriate within online banking system – IND Group

Gartner 70% of the Global 2000 will have at least one gamified application by 2014

Mind Commerce Gamification ranked 4th in Top Digital Marketing Trends for 2012

Ovum Bankers now have new ways to increase relevance of its products and services, engage customers and improve sales.

Reuters Gamification represents a promising strategy for brands to increase customer activity, build loyalty, broaden reach and monetize assets

A word on rewards• This is not Pointsification• Nor is it another rewards or raffle program – there are plenty of those

“Your chance to Win”• External rewards wear off• Its about

• Savings and lending's. We must remember this. It is the primary reward!

• But those results are in the future . To close the Present Bias we use• Feedback• Recognition• Competition• Connection• etc

A compelling business case for banking

• Make “Fun to Use” your Design Mantra• Embed core KPIs in the application and game

design• Reduce risk by educating people on how the product

works and motivating them to participate• Capture share with fun and social contribution at the

heart of the brand• Increase transaction rates to drive overall revenue• Improve average balance revenue

Value

Transact

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Risk