Hop n' S@ve Qorus Banking Innovation Awards 2014 - Winner

Hop ‘n S@ve, Desjardins’s new instant savings tool, was launched to encourage customers to use two new savings products that are available exclusively through digital channels (internet, mobile and tablet), and to help more people start saving. Hop ‘n S@ve is a mash-up innovation that strives to do for mobile savings what Amazon has done for online purchases, which is to remove any friction in the process, make it easier to adopt and exponentially increase its use. Hop ‘n S@ve is exclusive to Desjardins account holders and is available via the bank’s mobile banking services application. It provides consumers with a simple and instantaneous solution to combat excessive impulse spending. They simply transfer money from their current account, which usually has a low interest rate, to a high-interest savings account. For Desjardins members, impulse spending has finally met its match – impulse saving. One click will transfer the desired amount into a savings account and allow members to track their progress towards a particular goal. This is achieved by storing a unique token on each client’s mobile device.