A bank personifies savings as pets

Initiatives to make savings more fun and motivating have increased in recent years. The common objective of all actors involved in this type of solution is simple: to improve the financial management of users of their services. The Trust Bank recently joined this movement by presenting a new and more fun concept of savings, combining an adorable character with each account.

FACTS

• The very last bank to have embarked on the gamification of savings is the Trust Bank based in Singapore. She presented her last initiative last December.

• In the form its new offer is based on the model of savings pots attached to specific projects. These "Savings Pots" defend the objective of motivating the bank's customers to save, in a playful and playful way.

• The Trust Bank offers its customers to open "Saving Pots" in just 3 clicks. In addition to this highly simplified model, the savings pots are also presented as:
  • customizable, since each bank customer can have up to 5 pots, each dedicated to a specific purpose,
  • Personalized, since each "Savings Pots" is also associated with a small character (lion, cat, dog, otter, varan), which the bank's client will see grow as his investments progress.

• Trust Bank's Savings Pots also defends a painless savings model, thanks to an automated investment system. Again, the service is intended to be hyper customizable. Customers can choose the amount and frequency of their payments via a service called AutoPay.

• Totally accessible, funds can be made available at any time. Customers can see in real time the evolution of their savings, materialized by the evolution of their small associated character. First in the egg state, each character grows at the same time as the savings of its "owner".

ISSUES

• Capitalizing on co-creation The Trust Bank notes that the launch of its new savings facility is the result of comments from some of its clients. The Bank therefore presents its new initiative as a means of meeting concrete expectations issued directly by its clients.

• Meeting a need : This bet seems to be winning since the Trust Bank took advantage of the formalization of the launch of its new service to highlight the fact that 75,000 "Savings Pots" had already been opened by its customers in mid-December 2024. The main objectives associated with these pots by the bank's customers were: the creation of an emergency fund, the planning of a trip or the potential purchase of a house.

PERSPECTIVE

• More than automated and painless savings, the Trust Bank defends here the idea of adding a fun attachment experience with small animated characters linked to its savings accounts.

• This initiative is thus closer to the Tamagochi model, for example, these virtual pets, created in 1996 by the Japanese company Bandai. More broadly, Trust Bank's new "Savings Pots" are finally moving closer to the ambition of some financial actors who seek to motivate their clients' good behaviour through the Gamification.

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