Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp

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Getting people to make short term sacrifices for long-term gain is one of the central challenges of any transformational behavior change. Nowhere is this more evident than in finance and healthcare -- and SaveUp is leading the charge. Hear Priya Haji discuss the ups, downs and hard-fought lessons of crafting engagement around tough subjects in this fast-paced discussion.

Published in: Economy & Finance, Business
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Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp

  1. 1. Short Term Engagement,Long Term Gain:Financial Gamification with SaveUp
  2. 2. SaveUp:the first rewards program thatrewards good financial actions withthe opportunity to win big prizes andsmall rewards
  3. 3. Prize Linked SavingsBehavioral economicsSkewed rewardsProfessor TufanoSavings, 401(k), IRACredit cards, car loans, mortgages
  4. 4. Registration is easyScalableReward yourselfUse your own dataNo integration for FIs19,000+ FIsCustom deployments
  5. 5. How does it work?Drawing prizes$1 Savings or $1 Debt Reduced = 1 CreditCreate a regular habitInstant Win prizes$2 Million Jackpot
  6. 6. ExtrinsicrewardsPrizesGamesCouponsOrg of financesAsset growthEducationIntrinsicrewardsMotivation
  7. 7. Engagementof a Social Game28% DAU45% WAU70% MAU52% 6 months45% 12 monthsRetentionof a financial utilityEngagement and RetentionVirality? Privacy? Trust?
  8. 8. Let’s take a tour...
  9. 9. • Countdown (Drawing, Jackpot prizes)• Appointment dynamic (Daily plays)• Ratio reward schedule (Invites -> Plays)• Progressive randomness (Free plays)• Collection (Financial accomplishments)• Pride/Envy/Status (Leaderboard)• Gifting (Donate/give credits)Gamification and SaveUp
  10. 10. of users reported saving more andpaying down more debtImpact of SaveUp52%Total Money Saved:$356,000,000Total Debt Payments:$255,000,000Education Session:75,000Challenges Taken:24,000

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