Gamification in banking: a review, synthesis and setting research agenda

Abstract

Purpose The objective of this paper is to explore and extend the existing literature on the use of gamification in banking. Design/methodology/approach Gamification is a new concept, further its application in banking is in a nascent stage both from the perspective of research and application. To systematise the limited literature and to draw the future research prospects, studies are presented based on theories, characteristics, context and methodologies framework. Findings The synthesis of the literature on gamification opened to a spectrum of areas to determine the future of gamification in the banking industry. The study emphasises the use of social and psychological theory building in the banking industry. Further, the research on game elements is an underexplored area in the banking domain, while they have well exploited in other contexts. Banking context needs more literature evidence, empirically tested and validated research methods to understand the personality traits and customer behaviour arising from the use of gamification. Practical implications For bank management, this study lays the impact of gamification in this era of digital banking. With the right mix of hedonic and utilitarian elements, bank management shall be able to boost financial literacy, improve saving habits, simplify banking products and strengthen knowledge updates among bank employees. Understanding the key elements and present status of research on gamification and their impact on customer behaviour development is crucial for the bank in building strategic advantage. Originality/value This study on gamification applied explicitly to the banking sector. With no clear application of the elements and mechanics of technology used in gamification, this study presents past literature in a systematised manner and draws the future research agenda of gamification in banking services.

Customer experience in digital banking: a review and future research directions

“…4.2.1.2 Gamification Gamification has gained its importance only after 2010. Gamification has found its wide acceptance in the context of healthcare, education, hospitality, etc., but it is in a nascent stage in banking, both in practice and academia (Chauhan et al, 2021). Gamification is conceptualised as the "application of game-like features in non-game context" (Deterding, 2011).…”

“…The banking literature is embarking on a shift from adoption frameworks towards examining customer experience (CE) with the technology (Islam, 2020), which is jointly addressed by academicians and practitioners alike attempting to comprehend its impact on satisfaction, loyalty and financial performance (Mbama and Ezepue, 2018; Ashrafpour et al , 2021; Eriksson et al , 2020; Garzaro et al , 2020; Siddik et al , 2015; Liang et al , 2009). This study also addresses the novel concept of gamification, which is in a nascent stage of development yet is tacitly applied to enhance customer engagement in several industries (Abou-Shouk and Soliman, 2021; Chauhan et al , 2021). Gamification literature in banking is mostly in the context of internet banking (Angelina, 2019; Rahi and Abd.…”

Influence of cartoon characters on generation alpha in purchase decisions

“…In the age of gamification and technology, cartoon characters significantly determine consumer attention and purchase behaviour towards the product. Gamification as a phenomenon is gaining acceptance among young generations like GA (Chauhan et al , 2021). This study may further be extended to explore the role of gaming elements and children's engagement through cartoons.…”

Effective Online Engagement Strategies Through Gamification

“…Since then, gamification has become more widely discussed in academic journals, however, with diverse meanings. Gamification is used in a variety of fields, including education (Parra-González, López-Belmonte, Segura-Robles, & Moreno-Guerrero, 2021), personalized health care (Martinho, Carneiro, Corchado, & Marreiros, 2020), retailing (Leclercq, Poncin, & Hammedi, 2017)), employee engagement and well-being (Hammedi, Leclercq, Poncin, & Alkire, 2021), banking (Chauhan, Akhtar, & Gupta, 2021;Nasirzadeh & Fathian, 2020), and tourism (Nivedhitha & Manzoor, 2020;Xu, Buhalis, & Weber, 2017).…”

“…Even though the number of studies on gamification has expanded in recent years, there is currently no systematic literature review approach for categorizing its online engagement strategies through gamification (Abou-Shouk & Soliman, 2021;Chauhan et al, 2021;Högberg et al, 2019;Hsu & Chen, 2018;Hwang & Choi, 2020;Rutschi & Dibbern, 2020). As a result, the primary goal of this systematic literature review is to identify effective gamification-based online engagement tactics.…”