Fintech gamification - best practices and lessons

Marketing
Feb 25, 2022
Sean McTiernan
Editorial Content Writer
8
Min to read

The Fintech industry is booming, but how do you keep customers engaged long term? With fintech there’s usually more set-up involved than the average service, i.e. submission of documents and linking of accounts. Even moreso, especially in an industry like trading, there can be a lot of necessary customer education, both about the aspects of the app but also industry best practices and regulations. For a fintech company to grow their customer base, a customer’s initial excitement must generate enough momentum to ensure they onboard successfully and start engaging with the product.

Gamification, using game-like elements to make an experience more compelling, is a great way to grab attention and prolong interest. Gamification also has to be implemented very carefully, giving consideration to both business aims and what motivates and interests customers. Here are some compelling examples of fintech companies who get gamification right at each stage of the customer journey .

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Gamified Onboarding

Fintech services can be quite set-up intensive. They often require submission of documents, understanding several different interfaces and integration with a bank account. This can be off-putting for a customer who wants to get up and running straight away. Gamification is a powerful tool to address onboarding roadblocks, reducing friction so the customer can complete the process without getting distracted or waylaid.

Just like a checkout process, such as Amazon, a progress bar is the most simple form of gamified encouragement to complete a process. It shows a customer their progress, reminds them of their goal and quantifies their investment in the task so far, something they would lose if they gave up. 

Such companies have gone much further. Portfolio and investment tracking app Nevexa takes a very clever approach to in-app incentives, offering individual rewards for each step completed by a customer. Each step a customer progresses on their onboarding journey increases the duration of their free trial. This has a double function of ensuring the free trial period will not be wasted on set-up alone and rewarding engaged customers, giving them the most time to test every aspect of the app. In this interview with David Jones, Nevexa founder Navarre Trousselot gives an in-depth insight into what motivated this design approach.

Customer Engagement

Often a new fintech service, such as a wholly online banking, requires a customer to change deeply-ingrained habits, like paying with a specific card, to really get the best out of a service. Giving a customer incentives by rewarding their behavior is a great way to encourage them to try something new and stick with it. 


Revolut offers a number of financial services to its customers, including currency exchange, debit cards, virtual cards, Apple Pay, stock trading, crypto and other services. Revolut’s use of gamification is a great example of encouraging engagement with a fintech service, namely encouraging customers to switch over to use their Revolut debit card for in person transactions. 

With the Revolut Perks program, a customer gains a reward for every tenth time they use their card. There are two kinds of rewards. Cashback rewards will return a percentage of a product’s price to a customer if they purchase it using a Revolut card. Discounts rewards give a set discount for online shopping or travel. With every tenth use of the Revolut card, another benefit is earned. 

Interestingly, these benefits are also time-limited, creating more incentive to use them. Clicking on a perk in the Revolut app leads to a counter on it showing how long it will remain active for and a link to the relevant site. Revolut has also tired these perks so that customers who have invested more with the company, ie those who have applied for a metal card, will receive greater rewards. This tiered, time-limited approach gives customers medium term benefits that they can continue to refresh through consistent use, a great motivator for converting short-term promotions into long-term loyalty.

Progress Bars and Streaks 

Sometimes a simple strategy is the most effective. For a banking app that is encouraging customers to save, measurable progress can often feel abstract as numbers sitting on a page. Adding progress bars gives users a better sense of how they’re doing and when their goal could be realized. A progress bar measuring the length of a streak, checking on investments each day or adding to a savings account each week, will encourage a customer to keep up consistent behavior.

Like most simple strategies, progress bars have their complexities. What stats do you display? Does your bar have the right increments to encourage a user? Progress that appears too fast could panic them, progress that seems too slow could make them feel hopeless. If the bar reflects information that accumulates in a linear fashion, like savings, it’s worth considering adding incremental progress markers too. A goal feels more achievable when split into constituent pieces.

There are also several basic technical concerns. A screen full of bars is useless if they can’t be clearly and quickly delineated by someone who is colorblind or using a screen reader. It is also important a breakdown of the data being reflected in the bar is easily available, otherwise it could be construed as deceptive. 


Mint is an online budget planner and does a great job of showing its users their progress and their consistency. As you can see from the image above, a one sentence summary of the data reflected on that page of the app is shown at the top of each screen. Progress bars give an eye-catching overview of how their progress is going and more in-depth information is available below. This is an information-dense app and Mint have worked hard to incorporate gamification with the added bonus of making that data easier to understand. 

Talon.One

Using Talon.One’s rules builder is a great way to build a loyalty system. After set-up, it’s easy to determine different effects for users of different levels on your loyalty program, encouraging members to progress to the next level. Rewarding customer loyalty and attention is a sure path to grow your customer base while improving retention.

Talon.One’s promotion engine also excels at applying conditions to any behavior you choose, seamlessly assigning any rewards you choose for any behavior you’d like to promote. Make your most engaged customers feel valued by generating unique coupon codes, allotting points to their personalized loyalty program memberships or even provide non-financial rewards like priority access to bookings. 


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Promotion Gamification: How and Why It Works
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Engage customers with gamified promotions
Popular gamification techniques explained
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Best Practices for loyalty programs
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