Points, Prizes, And Games: Positive Influence On User Financial Behaviour

The world of fintech has spawned many startups striving to address challenges related to accessibility and adoption of financial products across various segments. One approach that is gaining traction among many fintech apps is gamification. Research by Simon J. Blanchard and Mike Palazzo demonstrates that withdrawing gamification features (like rewards, prizes and points-based raffles) reduced user engagement.1 This implies that a segment of customers relied on rewards to sustain positive financial behaviour, thereby casting doubt on the long-term sustainability of gamification. This article suggests how CMOs and product managers can tailor gamification for specific customer segments to drive loyalty by enhancing intrinsic motivation. We also explore how gamification can be leveraged to advance financial inclusion for those at the base of the pyramid.