The article describes how Bobber’s combination of gamification with Facebook’s social networking capabilities encourages its Generation Y users to save money. Players can redeem points earned for cash prizes.
Reuters goes on to cite a study conducted by the National Bureau of Economic Research that states lower income families could be motiviated to save more money if incented with prize-linked savings accounts. Such gamified savings accounts are reported as well-tested and with widespread consumer appeal.
To learn more about Bobber Interactive’s GoalCard, watch its FinovateFall 2011 demo.