Core banking vendor Misys is embedding a gamification engine from Australia's Moroku directly into its FusionBanking Essence Digital platform, providing banks with a means to inject some fun into personal financial management (PFM) and help consumers achieve their savings goals.
With research suggesting that consumers spend more than one billion hours a month playing mobile games, the case for gamification in helping banks to attract, engage and retain customers is compelling, says Simon Paris, president at Misys.
“Digitalisation has completely changed the way that people interact and we believe the next generation will be more incentivised through gamification,” he says. “Supporting better financial management and education in banking is a powerful tool that moves consumer experience beyond the transactional and opens the door to bring people of all age groups into the savings fold.”
Under the tie-up with Moroku, FusionBanking Essence Digital brings points, leaderboards and rewards to standard banking activity, to educate and also support savings and spend management.
Moroku, which already counts ASB and DSK Bank as customers, is set to conclude a fresh financing round in the near future. The company views the deal with Misys as a significant distribution opportunity, tapping into a global customer base for its GameSystem application.