Game on Deposit @ Liv Qorus-Infosys Finacle Banking Innovation Awards 2024 - Winner
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Emirates NBD
Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking,...
United Arab EmiratesCategory
Core Offering InnovationKeyword
Savings & Investments, Marketing & sales, Gamification, Retail banking
Innovation presentation
Game on Deposit is a one-of-its-kind gamified fixed deposit by UAE-based digital only Liv Bank that allows customers to secure the market's highest interest rate by predicting the winners of the year's Europe's biggest football tournament.
To participate, customers only need to select the team they think will win the tournament while opening the deposit. If their selected team wins, they earn 10% p.a. interest. If it reaches the semi-finals, they receive 5% p.a. interest. If neither, they still earn a 2.3% p.a. interest.
Minimum deposit to participate is just AED 5K (~USD 1,360) and tenure of the deposit is 4 months. While deposits are open only till the start of the knockout matches, customers can open as many deposits as they want, with the same or different teams.
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