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The gamification of banking: how Hong Kong virtual lender ZA Bank uses mobile games to attract and maintain customers
- ZA Bank says its gamification strategy is resonating with Hong Kong’s millennials and Generation Z in the digital era
- Over a quarter of Hong Kong’s adult population is expected to have a virtual bank account by 2025, according to Quinlan & Associates
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Covid restrictions are preventing Annelise Murray, a 22-year-old English teacher in Hong Kong, from taking trips with her friends to Macau’s casinos.
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But she still recently managed to win big on a slot machine, walking away with HK$4,700 (US$600) – enough to cover the cost of a staycation she had just paid for at a 5-star hotel with her boyfriend, and leave her with HK$2,350 of spending money.
She is not a member of an underground gambling ring. Rather, the machine in question was a virtual one on her mobile phone screen and all she did to get a shot at the prize was swipe her ZA Bank credit card.
With backing from ZhongAn Insurance, ZA Bank was one of eight virtual banks launched in 2020. The app offers a range of rewards opportunities including virtual “quests” that guide users through banking features, products and services.
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However, the highest potential for earnings is through the PowerDraw, a game of chance which can award up to 200 per cent cashback for offline purchases made by credit card.
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