Game On: Gamification in Mortgage Servicing

Gamification - a concept image of a computer game
Gamification‘ refers to the process of adding game-playing components (e.g. point scoring, levelling up, competition) to company-customer interactions. It’s estimated that around 3.26 billion people worldwide play video games, and an increasing number of companies are harnessing its power for customer engagement. Rewards and incentive-based gamification models have the power to promote real change among a customer base, where the positive feedback when depositing savings or simply completing an educational module creates a very real dopamine release in the human brain. Gamification in educational financial apps can produce tangible results, where incentivising good habits garners better outcomes. In mortgage servicing, we can use it to improve financial literacy, decision-making, and communication from our customers. 

Elements of Gamification

The general idea of gamification revolves around injecting elements of fun into processes or applications that make the overall experience more pleasurable for the user. The concept has steadily been gaining popularity, with points-based reward systems dating back to the 1980’s.

It’s all about loyalty and engagement. Mobile phones now offer financial institutions unprecedented access to consumers. Customers are often won on the merit of digital offerings. Is the experience interactive? Is it fun? Is it personalised? 

Gamification isn’t just about leaderboards and earning badges. Some interactions are more nuanced and subtle. It’s about the full experience, and how that encourages or nurtures a customer towards a goal.

Here are a few of the gamification elements we use on the Eligible platform to keep customers engaged (our clients often see up to a 300% uplift in customer engagement after implementation). 

Two-Way Gamification

Gamification doesn’t only work for customer experience – it’s also a great way of motivating and incentivising your workforce to meet company objectives and targets. 

Partnering with Eligible gives you full visibility on both sides – consumer and staff. Who is delivering an outstanding performance? Where are targets consistently being met, and how can they be improved? Our reporting tools and client dashboards give you everything you need to monitor progress indicators and set up company-wide initiatives. 

If you’re ready to hear more about Eligible’s features and benefits, fill out the form below and book a demo with us today!

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