The Silicon Review
Geniusee was founded in 2017 and since then we provide top-notch custom software solutions to clients all over the world. With years of experience in the industry, we have helped many businesses grow and achieve their goals by delivering innovative and scalable software products. In a world where technology continually shapes and transforms our daily lives, the traditional landscape of finance is undergoing a remarkable evolution. Fintech is redefining how we manage our money and challenging conventional notions of financial engagement. Amidst this revolution, an innovative approach has emerged, blending the excitement of gaming with the seriousness of financial services — gamification.
As financial institutions strive to captivate and empower their customers, gamification has emerged as a potent tool, driving engagement, enhancing education, and transforming financial experiences. By leveraging game-like elements such as rewards, challenges, and interactive interfaces, fintech companies are reshaping how individuals perceive and interact with their finances. This groundbreaking integration of playfulness and pragmatism holds immense potential to revolutionize the financial landscape and redefine the relationship between consumers and their financial goals. When it comes to business administration, gamification offers a range of benefits. Companies can increase employee engagement and productivity by implementing gamified systems and processes. Through the use of leaderboards, badges, and real-time feedback, employees are incentivized to complete tasks, meet goals, and strive for excellence. Moreover, gamification can promote a culture of continuous improvement by encouraging employees to acquire new skills and knowledge. This not only benefits individual employees but also contributes to the overall growth and competitiveness of the organization.
Businesses can create a more dynamic and stimulating work environment by leveraging gamification techniques. HR departments are leveraging gamification techniques to enhance employee engagement, motivation, and performance. By introducing gamified elements such as challenges, competitions, and rewards, HR professionals can create a more interactive and enjoyable employee experience. Gamification in HR can be applied to various areas, including onboarding, training, performance management, and employee recognition. Through gamified training modules, employees can acquire new skills in a fun and immersive manner. Gamified performance management systems provide real-time feedback, set clear goals and targets, and recognize achievements. This not only boosts employee morale but also fosters a culture of continuous learning and growth within the organization.
Key Features Of A Good Game System
It is important to note that although the term "game" is used to refer to the process of interaction with a gamified system, gamification itself is not the creation of a game as such, and the game does not serve as a goal when introducing gamification elements into the work of organizing into a product. In this process, positive characteristics, elements, and mechanisms of the gameplay are transferred. The main components of the gamified system, thanks to which the user is attracted and retained, are the competitive spirit, the presence of a system of accumulating points, and the possibility of receiving rewards, but to build an effective gaming system in business, it is also important to determine the key characteristics of efficiency.
Gamification is based on the application of methods that involve natural instincts, namely: competition, which further also leads to the attraction of higher-level needs according to pyramid A. Maslow: the desire for achievements (achievements), status, self-expression, selfish altruism, and problem-solving. The basis of gamification is the actual solution of problems or the implementation of various game tasks for which the player receives rewards of different types and levels, depending on the complexity of the task and the prizes already received or the problems solved. Incentives in gamification are points, honors, levels, and indicators of progress. An important component of gamification is also storytelling.
With more than five years in FinTech development, Geniusee’s team tailored many financial services and products, including neobanks. One of the latest works of art Geniusee built is Zytara.
Key challenges for Geniusee was implementing parental control as Zytara is designed to be used among others by the youngest representatives of Generation Z, meaning kids aged from 6 to 17, and tailoring the app in a way to engage and retain young people.
To be honest, Zytara is not the first time Geniusee has created parental control; yet, the company is always serious about it as kids, their data, and financial behavior are top-priority in cybersecurity.
The real deal was to make it exciting. Of course, building a strategy and deciding on the implementation of gamification features is not on Geniusee, yet as the company is not only building FinTech software but are also pretty experienced in consulting in the industry, Geniusee decided to talk to Zytara team about it. The outcome of this talk was one of the really powerful insights for it: personalization strikes it! Game changer, no doubt.
The common belief is that neobank and gamification for FinTech are only for Gen Z and even those of them who tend to choose rather online virtual life instead of real offline. Well, offline meetings that gather dozens of thousands of users held by Monobank or ZA bank prove this statement wrong. Almost all banks also use gamification to encourage their customers to make offline purchases. Geniusee finds here also pieces of social responsibility implemented in learning features that are extremely useful for young adults with their first card. It’s only up to you and your strategy, goals, and objectives to decide on the usage way and purpose of gamification features in your FinTech app. In case you need some help, Geniusee is here to give you some consultations, assist in developing your service or transform traditional solutions into digital ones.
Taras Tymoshchuk, CEO