- Truist has acquired mobile savings gamification app, Long Game.
- Long Game uses strategies from the prize-linked savings and mobile gamification worlds to drive customer engagement and increase brand loyalty for banks.
- Long Game won Best of Show in its Finovate debut last September at FinovateFall 2021 in New York.
Terms of the deal were not disclosed. But U.S.-based financial services company Truist announced today that it has acquired bank engagement and savings gamification app, Long Game.
“Truist’s commitment to help people build financial wellness is exactly what we are about at Long Game,” company co-founder and CEO Lindsay Holden said. “We’ve revolutionized bank engagement and are eager to apply ourselves to creating disruptive technologies that help Truist deliver a human touch in new ways.”
Long Game won Best of Show in its Finovate debut at FinovateFall in New York last year. The company offers a bank-branded mobile app that leverages the best practices from prize-linked savings and mobile gaming to help banks acquire new customers, boost customer engagement, and promote financial literacy – with a particular focus on Millennial and Gen Z customers.
Courtesy of the acquisition, Long Game’s team of engineers, designers, and business leaders will join Truist’s innovation team. Holden will lead a San Francisco, California-based crew of engineers, product managers, and designers as they develop new client-centric solutions.
“At Truist we are laser-focused on shaping the future of finance with innovative people and products – and democratizing entrepreneurial opportunity while we do it,” Vanessa Indriolo Vreeland of Truist Ventures said. “Long Game is a female-led business with a diverse team of incredibly talented innovators creating unique solutions to help people achieve financial confidence.”
The acquisition is designed to help Truist reach a younger demographic. Truist also sees Long Game’s technology as complementary to its workplace financial wellness program, Truist Momentum, that helps employees better manage their finances based on their goals and values. Headquartered in Charlotte, North Carolina, Truist was formed in 2019 as a result of the merger between BB&T and SunTrust Banks. Truist is a publicly traded company on the NYSE under the ticker symbol TFC. The firm has a market capitalization of $66 billion.
Learn more about Long Game! Check out our interview with company co-founder and CEO Lindsay Holden on the Finovate Podcast with Greg Palmer.
Photo by Pixabay
