Quick guide to gamification in Fintech

We’re all human. We all like rewards, games, and challenges. 

For that reason, gamification is becoming a go-to strategy for finance apps and digital banking platforms. Adding game-like rewards, points systems, and playful challenges to financial services keeps customers engaged, and why wouldn’t it? 

In fintech gamification, boring tasks like budgeting or saving are transformed into fun, goal-oriented activities.

Wanna know how and why gamification works for Fintech? Keep reading:)

What is fintech gamification?

Fintech gamification is the practice of integrating game elements into financial apps and websites. 

Instead of treating money management as a dry chore, gamified finance apps turn it into an activity users want to engage in. For example, an app might replace plain charts and numbers with interactive challenges, points, and rewards.

It’s basic human psychology. We’re motivated by achievement, competition, and rewards. Add that to fintech, and managing money becomes enjoyable rather than intimidating.

In short, gamification in finance means using techniques like points, badges, progress trackers, and challenges within a fintech product to encourage positive user behaviors.

Why gamification in fintech works and why it matters

Tasks like budgeting, saving, and investing used to be stressful - you deal with numbers, complex systems, etc. Honestly, for some, even the thought of managing money gave them the heebie-jeebies. 

Gamification flips that script by making these tasks feel rewarding and approachable. Here’s how it works:

1. Game elements add fun and simplicity to tasks. 

For beginners, earning a badge for completing a budgeting course or seeing a progress bar toward a savings goal can remove the fear factor.

2. People are naturally drawn to challenges and rewards. 

By incorporating points, levels, and prizes, fintech apps give users a reason to log in regularly and keep using the service. In fact, companies that use gamification have reported up to 700% more new user engagement and significantly higher retention.

3. The best banking gamification strategies guide users to better behaviors. 

For example, an app might reward you with points or badges for hitting a weekly savings target or paying bills on time. These little incentives nudge users to build good money habits (like saving regularly or budgeting) until they become routine.

4. A bit of banking gamification can set your app apart.

Younger users (Gen Z and Millennials) now expect interactive, engaging experiences from financial apps. Over 50% of startups in the US are already integrating gamified features into their products. 

All this translates to business value.

Engaged users tend to stay longer and use more services, directly impacting revenue. Some banks have seen conversion rates climb from 2% to 14% after adding gamified onboarding processes.

Popular gamification features in banking apps and fintech platforms

To add gamification to a finance app, it helps to know the common techniques that work. Here are some of the most popular gamification banking features.

Points and rewards

Awarding points (or virtual coins) for completing financial actions is a core gamification tactic.

Users might earn points for each payment made, each time they save money, or for making an investment. These points can translate into tangible rewards, like cashback, gift cards, or fee waivers, or simply serve as a running score.

Rewards programs (similar to frequent-flyer miles but for banking) motivate users to engage more with the app. 

For example, some credit card apps give points for every purchase, which can be redeemed for goodies, turning spending into a game of “earn as you spend.”

Badges and achievements

Digital badges are virtual “trophies” for reaching milestones. A budgeting app might give you a “Savings Champion” badge when you hit three months of continuous saving, or a bank might design collectible badges for using new features (like setting up your first automatic payment). 

These badges provide visual recognition of progress and create a sense of accomplishment.

Seeing a row of earned badges on your profile is a fun reward in itself and reinforces positive behavior. Fintech companies like Ukrainian digital bank Monobank have dozens of unique achievement badges to keep users motivated.

Progress tracking (goal visualizers)

Progress bars and goal trackers are simple but powerful gamification elements. They visually show how close a user is to achieving a target, such as “70% of the way to your $1,000 savings goal.”

This plays on our natural desire for completion; when we see a goal almost reached, we’re inclined to finish it. Many finance apps now let users set goals (like “save for a vacation”) and then display progress in an interactive way. 

Starling Bank and Qapital, for example, use dynamic progress visuals so abstract goals feel tangible and within reach.

Challenges and quests

Framing financial tasks as challenges can spur users into action. For example, an app might pose a “30-Day Saving Challenge” to put aside a small amount every day, or a weekly budgeting quest to stay under a certain spending limit.

Some apps create group challenges – who can save the most this month among your friends? – adding a social incentive. Completing these challenges often yields bonus rewards or recognition, providing an extra push to participate.

Leaderboards and social sharing

A bit of friendly competition can go a long way in engagement. Leaderboards rank users (sometimes anonymously or among friend groups) based on certain behaviors, for example, how much they’ve saved or points earned through investing. 

Revolut’s app is known for leveraging leaderboards: users earn points for activities like making transactions, and they can see how they stack up against top users or friends.

This social gamification element motivates people to climb the ranks and builds community, as users can share achievements (e.g., “I’m in the top 10% of savers in my area!”). 

A quick gamification case study

Spiff is the leading sales commission software and commission tracker, automating manual commission calculations and motivating sales teams. Their redesigned mobile app shows how fintech gamification can energize an initially strict B2B workflow.

It has a live leaderboard that ranks reps on quota attainment and lets teams cheer top performers alongside transparent commission breakdowns, real‑time trend charts, and push‑alert milestones.

Reps can see at a glance how close they are to the next earnings tier and what deals they need to close to climb the ranks. Early roll‑outs showed a double‑digit jump in daily log‑ins and a sharp drop in spreadsheet disputes once the leaderboard went live. 

A combination of competitive rankings with attainment bars, plan‑by‑plan views, and instant notifications is an excellent representation of the best banking gamification principles.

Streaks and daily check-ins

Borrowed from Snapchat and Duolingo, “streak” mechanics reward you for consecutive days of activity. 

A personal finance app might track how many days in a row you’ve logged expenses or checked your budget. Each day extends your streak, and breaking the streak resets the count, which users naturally want to avoid. 

Some apps give small rewards or increasingly better perks for maintaining longer streaks (e.g., after 7 days of logging in, you earn a bonus). This method effectively turns engagement into a daily habit.

Surprise rewards

Last but not least, what about the thrill of a possible surprise?

A few banks and fintechs use “spin-the-wheel” games or lottery-style rewards to incentivize actions. 

India’s CRED app, for example, gives users a daily spin at a prize wheel, where they can win anything from discount coupons to Bitcoins just for making their credit card payments on time.

Some savings apps give out raffle tickets or chances to win cash prizes whenever you deposit money. This prize-linked savings approach adds an element of fun (and the chance of winning) to encourage saving, without any risk to the user’s principal. 

The random rewards provide excitement and can significantly drive up participation rates.

All these features aim to make users feel something positive when using financial tools – whether it’s a sense of progress, competition, achievement, or just enjoyment.

We recommend combining multiple mechanics (for example, an app might use points + badges + progress bars together) to create an even more engaging experience.

Tips for adding gamification to your fintech app

Guess who needs actionable tips? Yes, you. So, here’s how to add gamification to your fintech apps and websites:

• Start with user motivations. What drives your customers? Are they competitive? Do they enjoy social sharing? Or do they respond better to quiet progress tracking?
• Fit them with real financial goals. Gamification elements should always support the core purpose of your app, not distract from it. Avoid “games for the sake of games.” Ask yourself: does this feature help users manage their money better or learn something useful? 

Every challenge or reward should map to a positive outcome (like saving more, reducing debt, increasing investment knowledge).

• Keep it optional and non-intrusive. Not everyone will want to play along with gamification, and that’s okay. Users should be able to use your finance app’s core features even if they ignore the games.
• Avoid over-gamifying. Gambling-like or addictive tricks that could harm your users are a firm no. For example, offering huge lottery prizes might encourage reckless behavior, and constant flashy animations could trivialize important decisions.

A notorious case was Robinhood’s stock trading app, which drew criticism for using celebratory confetti animations that potentially encouraged risky trading. 

The lesson: use gamification to promote responsible actions!

• Use data and APIs for personalization. One powerful aspect of fintech is the data at your disposal. Use it to make gamification more personalized. 

For instance, you can use Open Banking APIs (with user consent) to gather a user’s financial data and then create custom challenges or tips based on their behavior.

Consider also integrating external reward partners through APIs (e.g., link with a loyalty program or offer merchant discounts) to give users real-world value for their in-app achievements.

• Consider your audience and brand fit. Think about whether it matches your target audience and service. For example, in B2B fintech or high-end financial services, heavy gamification might feel out of place or even diminish credibility.

A corporate treasury tool for CFOs probably shouldn’t have cartoon avatars and confetti. In such cases, you might opt for more subtle gamified elements (like progress dashboards without the playful frills). On the other hand, consumer-facing apps aimed at younger users should definitely consider fun, social features.

Wrap-up

All we’ve discussed in this article shows how versatile gamification can be in fintech. The main focus is to engage people and even improve their financial behavior (e.g., more savings, timely payments, frequent app usage).

Remember, if you need guidance tailoring these ideas to your product, our team at Merge has deep experience in fintech design and can help craft a gamification approach that fits your users.