Can a gamification platform encourage prepaid cardholders to save?
Doorways to Dreams’ (D2D) SavingsQuest tool is an online and mobile platform that uses the principles of gamification to encourage savings among prepaid card users. The product is currently offered in collaboration with BankingUp’s UPside prepaid card and employs gaming principles such as badges, levels, and challenges to promote savings in the card’s Rainy Day Reserve pocket.
SavingsQuest launched in February of 2015 and the product is still active for UPside cardholders. The project received funding from the Center for Financial Services Innovation’s Financial Capability Innovation Funds. A partnership with a collaborative of funders led by the Citi Foundation, the Funds provided support to innovative projects designed to help low-income and underserved consumers adopt positive financial behaviors.
