The news: Singapore-based digital bank Trust Bank launched a "savings pot" feature that lets customers personalize savings goals with tailored targets—something that resonates with young consumers. But there’s even more to the strategy that could help banks build relationships with millennials, Gen Zers, and Gen Alphans, per Marketing-Interactive.
The strategy: The savings pots are designed as digital pets—starting as an egg, and growing into a mature character once the customer reaches their savings goal. This could scratch millennials’ nostalgic itch, as Tamagotchis—which offer a similar concept—made a huge global sales comeback since their debut three decades ago, per BBC.
Plus, Gen Zers want tools that help them save faster, and Gen Alpha is good at saving and motivated by gamification. These digital characters can help accomplish all of the above.
Can it work? Since the feature’s launch in December 2024, Trust Bank reports that over 75,000 savings pots have been created—meaning its customers are taking to the strategy, per Marketing-Interactive.
And as we’ve reported, banks targeting Gen Alpha must build marketing campaigns that resonate with their parents. Products that appeal to parents’ nostalgia and demonstrate educational value could make an especially strong case.
The marketing takeaway: Banks that develop fun, gamified ways to help younger customers save money—especially ones reminiscent of popular childhood trends—should lean into marketing these features, as they’re likely to resonate with banks’ youngest generations of savers.
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