“We’re from Reno, Nevada - we love games like this.”
- Max Haynes, CEO, PaySwag
PaySwag and other gamified, incentivized FinTech products targeting millennials launched at Finovate 2015 held this week in New York City - one of the largest FinTech conferences in the world. PaySwag engages customers to make payments “educational, rewarding, fun” particularly targeting people with “attention deficit disorder,” a characteristic often used to describe the millennial generation. Just for keeping a payment plan, users can win Starbucks lattes, Amazon giftcards and Redbox rentals. Salesforce.com is already a partner. Chocolates were provided to market their product.
New Kapitall Holdings, also launched a mobile app, KapitallM targeting millennials that is based on the global success of Prize-Linked Savings Accounts or PLSAs. PLSA gives cash and prizes based on how much money is saved; yet ads a twist with incentives to pay down student loans and test personal finance knowledge. “Play with my assets” is their tagline.
Finally, Hedgeable's product NEXT by Hedgeable, the first private banking platform for millennials, won “best of show” in the conference. The private banking platform provides millennials access to risk managed portfolios for any account type, “socially responsible” alternative asset classes and a member benefits reward program. Their tagline “get hedged,” hedgehog give aways and launch party at a New York City hot-spot next week exemplifies just some ways in which they are marketing to the millennial generation. Both New Kapitall Holdings and Hedgeable are based in New York City.