More than 3 billion people in the world play video games, according to Statista, and this trend has led to the growing popularity of gamification business models in banking. Gamification is forecasted to increase at a compound annual growth rate of 26.5% through 2027, and companies that adopt it see up to a 700% increase in conversion rates.

Gamification is the process of creating incentives that reward users for specific activities. In banking, you might “gain levels” — like you would in a video game — every time you transfer money to your savings account, a retirement account, or an investment portfolio.



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