Gamification is a process of creating or applying game metrics into a system to establish retention, value for time, and interactibility. The essence of Gamification in fintech is to reward people or create an illusion of reward in exchange for the time that a user is offering, let's say a bank app.
In this video, I talked about the Gamification strategy of virtual banks in Nigeria. How they've designed a sophisticated reward system where they build game systems by using complex finance tools to keep people engaged on their applications.
In this video, I used a popular virtual bank in Nigeria as a case study. I talked in detail about the cash-back policies which they offer to customers as well as rewards for further interactions with the learning and earning tools that have been incorporated into the app.
I went on talk about why Gamification and its reward system is one of the biggest retention strategies in Nigeria. I talked about how it's even become a business model in Fintech and how this is changing the face of the financial industry.
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