Truist has announced that it will acquire Long Game, the gaming finance mobile app, a press release from Truist announced on Tuesday (May 3).
Long Game uses prize-related savings and occasional games to help motivate smarter financial behaviors. It also improves account growth and customer retention for banks, and Truist will leverage Long Game’s technology to help customers improve their financial well-being.
The acquisition will see Long Game engineers, designers and business leaders join Truist’s innovation team, and Long Game co-founder and CEO Lindsay Holden will join a team of engineers, product and designers to work on new solutions.
“Truist’s commitment to helping people build financial well-being is exactly what we strive for at Long Game,” Holden said. “We have revolutionized engagement banking and look forward to striving to create disruptive technologies that help Truist bring the human touch in new ways.”
Meanwhile, Ken Meyer, CIO for Consumer Technology at Truist, said the acquisition is “a critical part of a broader innovation strategy at Truist that will future-proof our core businesses and attract inventive and entrepreneurial talent. to help provide new and revolutionary solutions. ”
See also: Truist Uncovers No Overdraft Accounts
PYMNTS wrote that Truist has rolled out two new checking accounts with no overdraft fees, making it the latest bank to tackle a revenue stream that has recently been criticized for being predatory. This will be part of Truist One Banking, which is set to debut this summer this year.
Accounts will also offer a deposit-based line of credit that will not be dependent on credit scores for qualification.
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