SavingsQuest: Creating Savings Through Gamification

Categories: Gamification

Inspired by innovations in the field of health and fitness, SavingsQuest is a gamified savings app based on the principle that every contribution to a savings product, no matter how small, counts. D2D conducted a pilot of the app with consumers who used a prepaid card with an embedded savings pocket called the Rainy Day Reserve (RDR). The pilot showed positive outcomes, including that SavingsQuest users engaged more with their RDR accounts than non-users, resulting in increased savings.

“Not only did SavingsQuest users enjoy the tool, but the quantitative data suggests that it may have made a tangible financial impact during the short pilot period.”

“There is no pressure to make big, difficult saves, and users could feel a sense of accomplishment saving as little as a penny.”

“SavingsQuest users saved, on average, 25% more frequently than other Rainy Day Reserve users.”

  • Gamification can inspire behavior change, even in activities that are typically considered a chore.
  • Even as a minimum viable product, SavingsQuest made a significant impact, meaning that a fully fleshed out product would influence behavior change to an even greater degree.
  • Not only did SavingsQuest users enjoy the tool, but the quantitative data suggests that it may have made a tangible financial impact during the short pilot period. From beta testing in late 2014 through the launch in February 2015, SavingsQuest has shown that consumers will engage with game mechanics to help build savings.
  • The total amount saved during the pilot by all RDR (Rainy Day Reserve) users was $2,557,408. This means that although SavingsQuest users made up 6% of all RDR users, they account for almost 12% of the total savings during the pilot period.