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Credilikeme – Gamified Personal Loan Experience


- Empower people to become better credit users.
- Impact in the payment behaviour of loan users, therefore lowering delinquency rates.
- Increase the retention rate (revolving credit users).
- Marketing efforts of Credilikeme.

Why gamification was needed?

Over ten years of experience lending and collecting, we have learned that the best way to guarantee the payback of the loans is to keep and active and trust based relationship with the customers.
Banks and Financial institutions usually focus their relationship building efforts when they are acquiring new customers and when the credit users isn't paying back and have to collect. So the customers aren't being properly served during the life of the loan.
Furthermore there is a clear shift in consumer behaviour on newer generations like the millennials. We realised there was an opportunity to engage better with existing customer of financial services and new comers. As we - the founders of Credilikeme - grew up playing video games we knew that engagement via games is a must for newer generations and could work great in a financial context.
We believed we could motivate credit users to payback on time and increase their creditworthiness if we could relate the credit experience to a video game like experience they could easily understand. So we decided to gamified the personal loan experience.

We had no previous experience implementing gamification so we took Kevin Werbach class from Coursera gamification, and applied the principles throughout the loan process. For the last two years we have been perfecting our game building techniques, mostly by trying things out.

Credilikeme is a 100% online lender based in Mexico that lends from 150 usd up to 1,000 usd with up to six months to payback. Target market are young (22-35 years old) Mexicans who rely on credit to improve their living standards.
We currently have given more than 6,000 + Loans in the 32 states of the Mexican Republic.

Questions that helped us build the personal gamified loan experience:

What are the intrinsic motivators that make people payback a loan?
What are the extrinsic motivators that make people payback a loan?
When is that credit users feel most emotions?
What happens to the ones who actually payback on time?
How are we rewarding them to continue to pay back on time?
How can we give access to better loan conditions? how can we lower rates?
What is the emotion we want the Player (customer) to feel?

How we implemented?

We decided not to call our clients customers or clients, we called them PLAYERS. This became a huge cultural thing inside our company. Its now a tradition to say players instead of clients.
We hired a game developer company to do a FINANCIAL APP. They were stocked at first but then realised they knew how to create emotions in moments of truth. And we worked together to do an app had was fun and at the same time serious enough to be a credit company.
Built a web app and an Android App. (currently working on iOS)
Changed our pricing strategy so we could gamified rates, loan disbursement process, maturity of loans, and add on features. Example: Level one players pay a monthly rate of 15%, whereas level six players pay 5% monthly rate.
Creation of levels of trust. Credit users have six different levels of trust, each level has its own set of benefits.
We gave each player a profile where they could showcase their badges, trophies, and level of trust achieved. Made the profiles accesible to their friends and family.

Creation of features:

The Trust ladder: this feature became the backbone of our gamification strategy. A new player will be located in level one, and as they payback on time they will level up. As they level up they get access to better loan conditions such as: lower rates, increase in line of credit, increase in payback time, and access to raffles and other benefits. If the player fails to payback on time they don't level up, and if they behaviour is not correct they lower their score.

- The Pause: every good video game needs its pause, or time out, so that the player can fix something or position himself better. We believed that if our loan was really to be a game it should be more controllable from the players perspective. So we created the "Pausa" which allows players to pause their loan and as a result we stop the collection, interests freeze, and the player has an extra month to payback without affecting his credit score.

Lives: Credit users will eventually be late for a payment. We wanted to let them know that this was "ok" and that it happened to everyone. But at the same time we wanted them to feel that being late is a behaviour that is bad for them and that the financial institution wouldn't allow it to continue to happen. So we created lives. Each player has two lives for every loan, if they run out of lives they are penalised.

Badges and trophies: Players get a badge for everytime they payback. Each badge has a different meaning. Special badges were created for special situations. For example, “Delorean badge” is awarded to those players who were non-performing (delinquency) and came back and pay their loan to get back on track.

What gamification has achieved for this project?

Our company has benefited from gamification in many ways:


- Automatic collection % of successful Hit: from 36% to 56% in 18 months.
Retention, player ask for a new loan as soon as they finished their last one: from 70% to 92% in 18 months.
Delinquency index: From 45% late payers (more than 30 days delinquency) to 12% in 18 months.

Market recognition:

Players feel akin to the brand and our efforts because they feel we understand them. 90% of our users have recommended us.
1st place Village Capital Business accelerator hosted by MasterCard and Accion. May 2015.
2nd place MoneyConf pitch competition in Belfast, Ireland 2015.

Business Model:

Using the levels of trust. We were able to understand our credit portfolio in a different way. We now can do strategies per level of trust, to manage our risk.
Risk management model based on players level of trust.
When raising money to fund our portfolio, is very easy to explain banks how we manage risks and what type of users we have.

Overall, gamification for us wasn't just a novelty thing to try out. It became our way of doing business. If it isn't fun, engaging or helpful, we don't build it. If the player wont feel control, and cant along his/hers most important values to our product then we should build it. In a way Gamification became a compass for decision making all around the company.

Project Information

Project Images

Gamification Design

  • Goals: Participation-Engagement, Learning-Training, High Performance-Productivity, Innovation-Creativity, Marketing-Sales, Branding-Customer Loyalty
  • Platforms: Web Platform, Mobile App
  • Components: Avatars, Team, Social Network, Points, Real Prizes, Achievements, Badges, Levels, Progress Bar, Lifes

Contact Information

  • Contact Person: Armando Kuroda
  • Address: 103 kiki murillo, Culiaca, Sinaloa, Mexico, 80300

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