Building an Engaging Banking Experience

Over the last few years, the client company was successful with the underbanked users but recently was concerned with the decrease in new user acquisition and also a decline in their cashcard sales. As one of their identified additional channels for growth, mobile apps, the company decided to position itself to its younger users (18-36 years old), aka the Gen-Zs and Millennials. Since this user demographic is markedly attracted to gamification (with its compelling attributes of a challenge, a reward, and a sense of purpose), the strategy was to create pop culture-based customizable themes and a built-in reward system. The goal of this approach was to achieve increased brand engagement and customer loyalty, ultimately. In addition, this ‘theme-able’ app would have the standard features like opening your mobile account, money transfer, and creating a vault for saving money for future rewards systems, with launches for both Android and iOS platforms.