priya haji - short term engagement, long term gain: financial gamification with saveup
DESCRIPTION
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.TRANSCRIPT
![Page 1: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/1.jpg)
Short Term Engagement,Long Term Gain:Financial Gamification with SaveUp
![Page 2: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/2.jpg)
SaveUp:the first rewards program that rewards good financial actions with the opportunity to win big prizes and small rewards
![Page 3: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/3.jpg)
Prize Linked Savings
Behavioral economicsSkewed rewards
Professor Tufano
Savings, 401(k), IRACredit cards, car loans, mortgages
![Page 4: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/4.jpg)
Registration is easy
Scalable
Reward yourself
Use your own data
No integration for FIs19,000+ FIs
Custom deployments
![Page 5: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/5.jpg)
How does it work?
Drawing prizes
$1 Savings or $1 Debt Reduced = 1 Credit
Create a regular habit
Instant Win prizes
$2 Million Jackpot
![Page 6: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/6.jpg)
![Page 7: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/7.jpg)
Extrinsicrewards
Prizes
Games
Coupons
Org of finances
Asset growth
Education
Intrinsicrewards
Motivation
![Page 8: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/8.jpg)
Engagementof a Social Game
28% DAU45% WAU70% MAU
52% 6 months45% 12 months
Retentionof a financial utility
Engagement and Retention
Virality? Privacy? Trust?
![Page 9: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/9.jpg)
Let’s take a tour...
![Page 10: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/10.jpg)
![Page 11: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/11.jpg)
![Page 12: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/12.jpg)
![Page 13: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/13.jpg)
![Page 14: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/14.jpg)
![Page 15: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/15.jpg)
• 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
![Page 16: Priya Haji - Short Term Engagement, Long Term Gain: Financial gamification with SaveUp](https://reader034.vdocuments.net/reader034/viewer/2022051817/5486d6eab47959f60c8b5283/html5/thumbnails/16.jpg)
of users reported saving more and paying down more debt
Impact of SaveUp
52%
Total Money Saved:
$356,000,000Total Debt Payments:
$255,000,000
Education Session:
75,000Challenges Taken:
24,000