Game On: Chime offers gamified financial education through partnership with Zogo
- Multiple FIs are diving into gamified financial education to counteract the longstanding problem financial illiteracy in America, and Chime has joined the roster.
- To do this Chime has partnered with Zogo, a financial education platform that offers gamified lessons and quizzes that customers can complete and earn rewards.
Over 40% of consumers don’t have basic understanding and knowledge about finance, according to a study done by Capital One in 2023. And this is a long running issue in America: Research done in 2014 and 2017 found similar low levels of understanding when it came to personal finance.
To counteract this, brands like Greenlight, Truist, and even Zelle’s operator Early Warning Services has started to leverage gamified digital experiences to encourage their customers to learn about personal finance.
Joining this roster most recently is the neobank Chime, which partnered with Zogo, a financial education platform that offers gamified lessons and quizzes that customers can complete and earn rewards. Through the partnership Chime customers have free access to the Zogo platform and can earn gift cards at stores like Nike, Starbucks, and Amazon.
The firms worked together for several months to curate these lessons and cover topics like credit, budgeting, and savings, according to Sara El-Amine, Chime’s Vice President of Community. The topics covered by Zogo through the partnership also have a direct connection to Chime’s MoneyMoves blog which offers detailed information on banking, and safety and security. _____________________________________________________________________
