Gamification in Banking
Risa Hemtasilpa 27-07-14
Generation Y is focused by many banks as various reasons;
1. Increase in number of Gen Y, number of people in
young age in Thailand is accounting on 16 million, while in 2015 number of Gen
Y estimated to be 75% of world population (ASTV 2013).
2. It is one way that bank can build up
relationship with people in their young age. We have an assumption that
familiarity and relationship would made the bank becomes top of mind bank and bank
selection.
3. People give reason of using one bank as main
bank since they have been using the particular bank for a long time.
Consequently, the quicker bank enters to their life, the higher opportunity
bank becomes their main bank.
However Gen Y customers are not really associate with
branch, they would go to bank branch only two times a year… Yes, when they have
to pay tuition fee!
Banks try to find a way to appeal this customer segment and Rajashekara
V. Maiya, associate vice president & principal-Finacle product strategy at
Infosys, said that gaming is pervasive among members of generation Y (Ryan
2013). Then gamification trend begins.
I have examples of banks who are using game to create
customer experience as following;
BBVA :
created game to educate people in using online banking.
Activities that customers do in the game or each transaction that customers do
through BBVA online banking website grants point for users to redeem gifts such
as music, film downloads or discounts.
In addition, the result of the launch is interesting, BBVA
game has attracted over 120000 users in only 11 months and number of Facebook
fans and twitters has multiplied by 15 timers from the start of the project.
OCBC :
bank has released “PlayMoolah” which educate children on
financial responsibility. The special point of this game is points can be
earned and donate to charity.
Commonwealth bank :
Commonwealth bank released Investorville which is a
simulation of property investment. It explain first-time buyers of process and
consequence of their financial decisions, taxes and impact of different type of
loans.
Turning to Thailand, KBank (Kasikorn Bank) launched
Facebook game called ‘KSME start up’ in 2010. It is a business simulation which
people can practice their business management in the game.
Currently (2014), KBank (no.1 in Digital banking) cooperate
with Line corporation and True move (no.1 in 3G network) release new game
called Line Let’s get rich and it has a very good feedback.
After it launched the game, it can achieve the highest number
of download and increase continually.
KBank is moving parallel with consumer behavior and trend. Statistic shows that there are 24 million
people in Thailand use Line application which is accounting on the second
highest of the world (ASTV 2014). As a result, this is time to move further from
Facebook to Line! Even though SCB was the first bank who launched Line sticker
with its own character, KBank seems to win back with its Brown&Cony sticker
and now Line game. However now I do not see any role of KBank in this game
except its small logo at the starting point pretending to be money provider (which may over look). I will keep
an eye on how it engages this financial game image to the brand and improve
customer engagement or at least develop brand awareness and business friendly
perception.
The activities could be
1. Improve its role in the game eg. KBank reward
for players who can make green line cities, or being a helpful bank
2. Advertising notification when people turn on the
game about KBank activities such as let’s get rich seminar. (the advertisement
must not about banking products which would create negative perception of the
bank in hard sell)
3. Since the game is about buying property, KBank
could have property investment seminar or how to get rich seminar etc.
Reference
Phillip Ryan 2013, 5 Signs Financial innovation is better in
Asia,
Kevin Shane 2013, http://www.gamification.co/2013/12/19/augmented-reality-games-for-bank-engagement/
Jonathan Camhi 2013, 5 banks leading the way in
gamification, http://www.banktech.com/data-and-analytics/5-banks-leading-the-way-in-gamification/d/d-id/1296142?page_number=6
Positioning Magazine, KBank
launch SME Startup city, media released Novemeber 2010.
ASTV 2014, ‘Line’ entering online game market after open
subagent in Thailand, media released March 2014, http://www.manager.co.th/Cyberbiz/ViewNews.aspx?NewsID=9570000034795
