Today, 23 July 2019, Moroku, which lets banks capitalize on the power of gamification to build rich customer engagement, announces that it has signed up Swiss firm Pangea to help it accelerate international expansion.
Moroku is seeing a significant increase in activity as banks face up to new competition. Open Banking legislation, which is hitting the statute books all over the world, is introducing more competition into the distribution of financial services, forcing banks to improve customer experience in order to hold on to their clients. As such, many banks are turning to gamification – and to Moroku specifically – to do so, introducing features such as individual and collective goal-setting that help improve financial literacy and ultimately help customers to make smarter financial and commercial decisions.
Moroku already has several clients in Asia and is looking to accelerate its international expansion. Moroku is working with a whole range of banks in Australia, from Big 4 mega banks through to credit unions and challenger banks, as well as a handful of institutions across the rest of Asia. It is now looking to expand its presence in other parts of the world, especially Europe, for which it has hired Pangea, a company specialized in scaling go-to-market for fast-growing companies.
Commenting on the decision to hire Pangea, Colin Weir, Moroku CEO, said, “We have proven the Moroku value proposition with some important reference clients in Asia. It now makes sense to take the platform to other geographies where the market dynamics are playing out in a similar way. We have chosen Pangea to help us since they bring significant expertise in sales and marketing as well as an unparalleled network of people, partners and contacts we can draw on to grow faster.”
Ben Robinson, Head of Marketing and Strategy Consulting at Pangea, added, “Moroku is exactly the kind of business we like to work with. It has a great product addressing the most pressing needs of banks globally. It now needs to put in place the right go-to-market strategy and plan to execute against the opportunity. We look forward to helping Moroku to unleash its growth potential.”
Moroku is helping banks to disrupt banking through the power of game design to build new digital platforms for clients globally who want to acquire, engage and retain customers. It provides a gamification platform called GameSystem on which banks can create apps, such as ChoreScout, an out-of-box app which allows kids to save money by doing tasks set by their parents.