Opportunity for banks to utilize gamification as a tool to promote financial education to children
deCos, Liliia (2015)
deCos, Liliia
Turun ammattikorkeakoulu
2015
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201505066389
https://urn.fi/URN:NBN:fi:amk-201505066389
Tiivistelmä
This thesis has several objectives: to investigate how banks benefit from promoting financial education for children via gamified solutions, to investigate how customers perceive banks that promote financial education as well as to understand the general opinion regarding financial education for both adults and children. The research portrays bank and customers’ points of view.
To meet these objectives, a mixed-method research model has been adopted. In order to collect qualitative and quantitative data the researcher has conducted a set of interviews and has distributed 88 surveys.
This thesis touches on financial literacy, the banking sector and gamification as three main areas of the research. In the first part of the thesis the researcher presents a rigorous analysis of the existing theories on these topics. An extended primary data analysis is presented in the second part of the research and provides a deep overview of how these areas interrelate leading to the conclusion of the thesis.
The findings of the research suggest that there is a tremendous need for financial education among both adults and children. Since this need is not fully addressed by the government organizations it allows third party providers (in this case banks) to seize opportunity and benefits of being “first to market”. However interacting with children may be challenging and new approaches should be elaborated. The researcher presents a gamified solution developed for ING bank that illustrates all the principles of gamification as well as bank’s reasons to invest in this solution. Interviews and surveys of the potential customers support the hypothesis that utilizing gamification as a tool to deliver financial education to children can benefit both adults and banks.
To meet these objectives, a mixed-method research model has been adopted. In order to collect qualitative and quantitative data the researcher has conducted a set of interviews and has distributed 88 surveys.
This thesis touches on financial literacy, the banking sector and gamification as three main areas of the research. In the first part of the thesis the researcher presents a rigorous analysis of the existing theories on these topics. An extended primary data analysis is presented in the second part of the research and provides a deep overview of how these areas interrelate leading to the conclusion of the thesis.
The findings of the research suggest that there is a tremendous need for financial education among both adults and children. Since this need is not fully addressed by the government organizations it allows third party providers (in this case banks) to seize opportunity and benefits of being “first to market”. However interacting with children may be challenging and new approaches should be elaborated. The researcher presents a gamified solution developed for ING bank that illustrates all the principles of gamification as well as bank’s reasons to invest in this solution. Interviews and surveys of the potential customers support the hypothesis that utilizing gamification as a tool to deliver financial education to children can benefit both adults and banks.