The Life Bank by Takara Tomy Arts provides a new and fun twist to the traditional piggy bank.
This virtual piggy bank guarantees you will have fun while saving. The way it works is that the bank connects to your iPhone via an app. Once it has been downloaded, you will be asked to set a target goal for what you wish to save and by what period. Every time you deposit money into the bank, all you need to do is place your phone over it so that it can register the new amount. This process is great for keeping tabs on how much and how often you have been saving. The fun aspect of the Life Bank is that it features a simulated human being. When you first get the app, you begin as a poor student living in a shoe box apartment and then you upgrade the more you continue saving.
What's Driving This Trend
- Virtual Piggy Banks
- Opportunity to develop more virtual piggy banks, utilizing fun features and gamification strategies to encourage saving.
- Mobile Savings Apps
- Opportunity to create more mobile savings apps that connect to traditional piggy banks using similar gamification strategies.
- Simulation Games for Saving
- Opportunity to develop more simulation games for saving which can be used to teach basic financial concepts such as budgeting and saving.
Who This Affects Most
- Financial Technology (fintech)
- Fintech companies can use this trend to develop new savings apps which incorporate gamification tools and virtual piggy banks.
- Toy Manufacturing
- Toy manufacturers can produce more virtual piggy banks with gamification features for children, helping to educate them on the importance of saving money from a young age.
- Education Technology (edtech)
- EdTech companies can use simulation games for saving to educate students on financial literacy in a fun and interactive way.
