The Gamification of Banking

Authors

Colleen Baker, University of Oklahoma College of Law
Christopher K. Odinet, Texas A&M University School of LawFollow

Document Type

Article

Publication Date

10-2025

Journal Title

Illinois Law Review

ISSN

0276-9948

Abstract

Gamification is coming to banking. This phenomenon is already gain-ing ground in advertising, healthcare, manufacturing, and, more recently, with the GameStop and AMC meme stock saga in securities trading. The idea behind gamification is to make transactions seem fun, playful, and even casino-like in order to elicit habit-forming, addictive-like effects with consumers. This Article argues that the rise of financial technology (“fintech”) firms and their ever-growing business relationships with incumbent financial institutions has created the necessary conditions for gamification to take hold in the banking sector. In order to explore this observation, we undertake a study of current examples of banking gamification and create a novel taxonomy of instances where fintech firms and banks offer financial products and services using business models that rely upon high levels of customers, transaction activity and engagement, and that frequently use the power of social media and online communities. Through our discussion of the nascent gamification of banking, we also explore the tension between consumer protection and various regulatory approaches when it comes to thinking about how to regulate the gamification in the banking sector. Lastly, we theorize banking gamification as coming in three distinct waves, with the final, yet-to-be realized wave being the advent of one-stop-shop, mega financial platforms. This Article concludes with some thoughts on the benefits and costs of gamification in banking.

First Page

1567

Last Page

1609

Num Pages

43

Volume Number

2025

Issue Number

5

Publisher

University of Illinois College of Law

Recommended Citation

Colleen Baker & Christopher K. Odinet, The Gamification of Banking, 2025 Ill. L. Rev. 1567 (2025).
Available at: https://scholarship.law.tamu.edu/facscholar/2310

File Type

PDF