Today, 23rd October 2019
Moroku, which lets banks capitalize on the power of gamification to build rich customer engagement, announces that it has established an offshore development centre in Kathmandu Nepal to support growing demand for its products and services. The company has teamed with XtraStaff with existing infrastructure in Nepal to initially hire 3 engineers, in Nepal as phase 1.
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 game design – 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 is working with a range of banks in Australia and New Zealand, from big 4 mega banks through to credit unions and challenger banks and has a Joint Venture in the USA to deliver a new digital bank. The Kathmandu development centre comes off the back of the August announcement to open its European operations centre in Zurich.
Commenting on the decision to work with XtraStaff and create the capability, Colin Weir, Moroku CEO, said, “As with so many businesses, scale is dependent on people and culture. With a Nepalese member of staff already at Moroku I am drawn to the culture, ethics and skills available in Nepal along with the economics. It also feels good investing in an economy that has seen its fair share of challenges in recent times . Getting such capabilities is however not without risk, much of it around how to deal with things when they go wrong, despite everyone’s best intentions. With XtraStaff not just having offices in Nepal and India, but being headquartered here in Sydney, I feel confident in our ability to manage that risk, build great software and have some fun.”
Mark Robertson, CEO of XtraStaff added, “Moroku is exactly the kind of business we like to work with. It has a great platform addressing the most pressing needs of banks globally. Through utilising latest technologies and leveraging our existing in-house expertise we are confident that we can help Moroku centrally develop and support it’s platforms into multiple markets around the world. An exciting time for all parties indeed!”
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.