Financial services platform Truist Financial Corporation has announced the acquisition of gamified finance mobile app Long Game. Truist noted that the acquisition will enable the firm to take advantage of Long Game’s technology to enable its clients to “build long-term financial wellness”. It will also enable the company to continue with its goals of inspiring and building better lives and communities.
The app utilizes prize-linked savings and casual gaming to encourage smart financial behavior, driving client retention and new account growth for banks and other financial institutions.
The acquisition deal also means that the Long Game team, including its business leaders, designers, and engineers, will join Truist’s Innovation team.
Lindsay To Become Part Of Truist’s Executive Board
Chief Executive Officer of Long Game, Lindsay Holden, will also become part of Truist’s executive board. She will take care of the technology innovation in the company, and will operate from the firm’s California office. She is also responsible for the development of new client-centered solutions.
Head of Corporate Development at Truist Ventures, Vanessa Indriolo, stated that the company is focused on using innovative products to shape the future of finance. One of the aims is to democratize entrepreneurial opportunity while carrying everyone along.
She added that Long Gamer has a diverse team of creative and talented innovators that help people reach their financial goals and achieve financial confidence.
The Partnership Will Attract More Entrepreneurial Talents
The latest acquisition of Long Game is an important step towards Truist’s wider innovation strategy that will future-proof the company’s core businesses. It will also lead to the attraction of entrepreneurial and inventive talents to help provide groundbreaking solutions to a series of needs in the finance sector.
Head of Consumer Technology and Innovation at Truist, Ken Meyer, added that the company is super excited about the acquisition deal. The innovative team at Truist is also happy to welcome Lindsay and the Long Game team as the platform tries to create a unique experience for its clients.
Truist provides a wide range of financial services, which includes asset management, small business banking, retail banking, insurance, mortgages, corporate and institutional banking, as well as commercial real estate.