Smartico implements Gamification in Fintech industry for the first time, and we’re here to tell you how it’s done, and what you benefit from it.
Fintech companies have never presented themselves as fun, entertaining or open for applying gamification concepts within the daily trader activities. When asked by Smartico why wont you use some gamification techniques, to help your traders overcome some adoption obstacles and get used to trading experience, the reaction at the beginning is always skeptical, wondering how it can blend within the solid financial industry image. But when we present them some use cases, the conversation flips, excitement starts to appear slowly and leads to “We have to do it” request.
The purpose of Gamification is to incorporate game elements into non-game activities. By utilizing gamification techniques like collecting loyalty points, giving rewards upon task completion, progress and status visualization, missions/achievements, leader boards, tournaments we try to improve customer engagement, making processes fun/easy/transparent/rewarding.
For traders, this means an attractive, engaging user experience and the existence of an interface that is not just easy, but enjoyable to use as well. For operations, gamification will speedup adoption, reduce customer churn and increase conversion and LTV. These days, when the market is flooded with competition, Fintech operations must stand out from the crowd, creating memorable experiences for their traders.
Smartico works on a personal level and feeds on the sense of personal achievement that we all enjoy, when applied, it has the power to increase user activation and retention, and word-of-mouth referrals. Take this road to make your product stand out, and to build loyalty. With so many Fintech companies falling by the wayside through poor differentiation and engagement, gamification does seem to be a simple solution for overcoming those obstacles.
This tendency of gamification in fintech is growing quickly and it’s important to join it before the trend completely explodes. At Smartico we deploy multiple tactics, and each operator will find a different combination of features to match their product, operations needs and traders. We have listed some gamification tactics that you can use in your fintech products and although this is not a complete list of all the features you could use, it’s a good way to start.
Using gamification technics we can make Trader’s onboarding process smooth, easy and safe.
Anything can be sold in the Marketplace, even tangible items, it’s the operator choice.
Another dimension for gamification in fintech usage, is to apply it within call centers that handle sales and retention operations of fintech companies… more about it in future articles.
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