Misys using gamification to increase consumer financial literacy

Financial services software provider Misys is employing gamification to help its clientele increase their financial literacy.

Misys has partnered with Moruko, whose GameSystem will be integrated into Misys’ FusionBanking Essence Digital architecture, with the goal being to make saving fun.

“Digitalisation has completely changed the way that people interact and we believe the next generation will be more incentivized through gamification,” Misys president Simon Paris said. “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.”

With consumers spending more than one billion hours per month playing mobile games, banks’ attraction to gamification as a customer retention tool is obvious.

FusionBanking Essence Digital brings points, leaderboards and rewards to standard banking activity, to educate and also support savings and spend management.

“Our software helps banks build and run contemporary digital experiences for their customers,” Moruko CEO Colin Weir said. “The purpose is to drive engagement, literacy and action by adding a touch of creativity and eliciting an emotional reaction.”