US financial services firm Truist has acquired mobile savings app Long Game for an undisclosed sum.
Targeted at millennial and Gen Z users, Long Game leverages behavioral economics, prize-linked savings, and casual games to motivate healthy financial behaviors and promote better financial literacy.
Truist intends to leverage Long Game’s technology to help its own customers build long-term financial well-being and increase engagement, particularly among Gen Z and Millennial customers.
The bank says Long Game’s technology also complements its Momentum workplace financial wellness program, which educates and encourages employees to better manage their money.
Under the agreement, Long Game’s engineers, designers and business leaders will join Truist’s innovation team.
Long Game co-founder and CEO Lindsay Holden will lead a San Francisco-based team of engineers, product managers and designers responsible for developing new customer-centric solutions.
Truist’s chief information officer for consumer technology and innovation, Ken Meyer, says the acquisition of Long Game is part of a “wider innovation strategy” to future-proof Truist’s core businesses and “attract inventive talent and business” to help deliver new product offerings.