Collaboration with Mastercard Center of Inclusive Growth, will bank & Flourish Fi: Driving SMBs sales adoption

Written by

Yasmin Graeml

Posted in

April 19, 2024


Customer Stories

As the financial ecosystem continues to evolve around the globe with open banking, more data availability, and embedded finance, we are seeing incredible opportunities for collaboration to drive innovation and a more inclusive banking system. Additionally, we have seen many individuals take on “side hustle” to complement their incomes. (more on the different micro-entrepreneurs persona and archetypes here)

For this specific collaboration, the Flourish Fi platform was implemented through will bank to individuals who have a personal account but had clear characteristics of having a side business. The pilot was generously subsidized by the Mastercard Center of Inclusive Growth with the mission of enabling small businesses and entrepreneurs to digitize their operations, drive meaningful use of financial services, and more effectively participate in digital markets.

Flourish Fi was one of the Strive Program grant recipients from the Mastercard Center of Inclusive Growth which has unlocked collaboration with Justa, Juvo, Aliança Empreendedora and will bank. Our team ran several experiments exploring the use of behavioral science, game mechanics and incentives to drive user behaviors. One of the most recent experiments was with will bank, a leading Brazilian digital bank serving individuals who are new to credit and historically overlooked by mainstream financial institutions.

In our experiment with will bank, we set out to test the power of game-mechanics and its influence on getting people to check their business hub more often along with registering sales for their business. The mechanics were set as missions for the user to access their bank app and register a sale, constrained by a time-bound element to complete these actions. Individuals who completed the actions were awarded a “digital coupon” for a marketplace. 

The experiment involved two groups: one experiencing our gamification strategy and a control group. The results were quite positive in terms of adoption. The group using Flourish showed an increase in sales creation of and more frequent app logins, indicating heightened engagement and activity.

Key takeaways from this experiment include the undeniable effectiveness of gamification in boosting client interaction and business performance. The data clearly shows that integrating a gamification layer, as offered by Flourish, can lead to significant improvements in both client engagement and sales metrics.

In conclusion, this experiment not only highlights Flourish Fi's capability to revolutionize client engagement but also reinforces our position as a leading SaaS client engagement platform. With proven results and the backing of the Mastercard Center for Inclusive Growth, Flourish Fi stands at the forefront of innovative client engagement solutions, ready to transform your business strategy and drive exceptional growth.

The actual increase observed in the experiment was significant: the group using Flourish experienced an increase in sales creation rates compared to the control group. This remarkable improvement underscores the effectiveness of our gamification approach in driving tangible business results.

In this digital age, engaging clients effectively is more crucial than ever, and at Flourish Fi, we believe in revolutionizing this engagement through our innovative SaaS platform, enhanced with a gamification layer. Join us as we delve into how this approach not only transformed the user experience at will bank, but also significantly boosted their business metrics, setting a new standard in client engagement.