SaveUp Lets You Earn Reward Points the More You Save
Christopher DeLuca — November 4, 2011 — Tech
SaveUp is a new concept that rewards users for making sound financial decisions. Every time a SaveUp user saves money or pays down debt, they receive points that may be redeemed later on.
SaveUp is a brilliant idea that aims to reform the behavior of its users and turn them into better financial decision-makers. SaveUp is also offering a grand prize of $2 million to encourage new users to give the site a try. Linking your various bank accounts and credit cards is quick and secure.
Implications - The process of turning any experience into a game is a major leverage point for many brands. The SaveUp model is based on rewarding users for positive behavior and training them to make better financial decisions. Companies should consider how they can use gamification to their advantage.
SaveUp is a brilliant idea that aims to reform the behavior of its users and turn them into better financial decision-makers. SaveUp is also offering a grand prize of $2 million to encourage new users to give the site a try. Linking your various bank accounts and credit cards is quick and secure.
Implications - The process of turning any experience into a game is a major leverage point for many brands. The SaveUp model is based on rewarding users for positive behavior and training them to make better financial decisions. Companies should consider how they can use gamification to their advantage.
Trend Themes
1. Gamification of Finances - The SaveUp model of rewarding users for positive financial behavior presents an opportunity for companies to gamify saving and spending.
2. Behavioral Economics - SaveUp aims to reform user behavior by providing incentives for sound financial decisions, opening up opportunities for businesses to leverage behavioral economics principles in their products and services.
3. Incentivized Saving - SaveUp's reward points system for saving money and paying down debt highlights the potential for businesses to implement similar incentive structures to promote saving habits among customers.
Industry Implications
1. Fintech - The gamified approach to personal finance offered by SaveUp creates disruptive innovation opportunities for the fintech industry to develop new platforms and tools that engage users in managing their finances.
2. Consumer Rewards - The use of reward points in SaveUp provides a blueprint for consumer rewards programs across various industries to motivate desired consumer behavior.
3. Financial Education - SaveUp's focus on training users to make better financial decisions opens up opportunities for the financial education industry to develop innovative and engaging learning solutions based on gamification and incentives.
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