Bankit Africa is revolutionizing financial management by integrating gamification into banking, allowing customers to earn money while playing games on their phones.
According to the company’s CEO, Yen Choi, this innovative approach turns financial activities into an engaging experience, making it easier for users to develop good money habits.
Choi explained that by applying game mechanics to banking, Bankit Africa goes beyond traditional services like deposits, savings, and transfers. Instead, it creates an interactive financial environment that motivates users to manage their money more effectively.
“One of my favorite games, Royal Match, does this exceptionally well by rewarding players at key moments, encouraging them to stay engaged,” Choi shared. “This same principle can be applied to finance. By incorporating similar dynamics, we encourage users to interact with their money in a more meaningful way, helping them build strong financial habits.”
How Gamification Enhances Banking
Choi elaborated on how game dynamics, such as leaderboards, high scores, and time-based challenges, are being integrated into Bankit Africa’s platform. These features turn financial management from a routine task into an engaging experience, ensuring users remain motivated to track and improve their financial behaviors.
One such feature, Goal Unlock Savings, rewards users by gradually introducing advanced savings tools. Customers who consistently deposit money, pay bills on time, and complete financial literacy challenges unlock automated savings features. This approach makes users feel more invested in their financial progress.
“This feature allows a portion of every deposit or withdrawal to be automatically allocated toward a specific goal, such as rent, a new phone, or a car,” Choi explained. “Because users earn access to this tool through their engagement, they are more likely to use it consistently, reinforcing good financial behaviors.”
A Gradual Approach to Financial Tools
Rather than offering all features at once, Bankit Africa introduces them progressively. Choi noted that an overload of options can lead to decision paralysis, making it less likely that users will fully engage with the platform. By gradually unlocking tools as users interact with the app, Bankit Africa ensures they not only have access to financial management tools but also understand and use them effectively.
Gamification as a Tool for Financial Education
Choi emphasized that financial literacy is more than just understanding concepts—it’s about developing habits that lead to better financial decisions. Many people, especially younger generations, find traditional financial education boring or complicated.
To address this, Bankit Africa incorporates interactive challenges, daily money missions, and rewards for completing financial tasks. This approach transforms financial learning into a fun and engaging experience, making it easier for users to grasp important money management principles.
Real-World Benefits of Gamification
The gamification features in Bankit Africa’s platform extend beyond engagement, offering real-world financial advantages. Users who develop good savings habits may receive better interest rates, fee discounts, or access to exclusive financial planning tools.
“Our long-term goal is to build a loyalty ecosystem where users can redeem points for financial products or partner discounts,” Choi said. “This not only rewards responsible financial behavior but also helps users see tangible benefits from their money management efforts.”
Balancing Engagement and Ethics
While gamification presents exciting opportunities, Choi acknowledged the importance of ethical design. Unlike traditional gaming, which often encourages spending, Bankit Africa’s model focuses on promoting financial well-being.
“One challenge is ensuring that gamification remains ethical. Our goal is not to drive excessive transactions but to encourage responsible spending and saving,” Choi noted. “Another challenge is finding the right balance—too much gamification can feel gimmicky, while too little may not drive behavior change. We’re continuously refining our approach to create meaningful financial engagement.”
With its innovative use of gamification, Bankit Africa is not just providing banking services—it is reshaping financial habits by making money management interactive and rewarding.
