Exploring the User Satisfaction of Gamification in Promoting Savings Among Millennials

Gamification has proven to be an effective strategy for encouraging financial saving behaviors among millennials. This study examines how gamification impacts user satisfaction and promotes savings within this demographic, addressing the issue of low savings rates. Using a quantitative approach, data were collected from 319 millennial users of savings apps and analyzed with Structural Equation Modelling (SEM) through the Partial Least Squares (PLS) method in SmartPLS 4.0 software. The findings show that gamification elements, such as rewards, challenges, and progress tracking, significantly enhance user satisfaction and positively influence savings behavior. The study concludes that gamification is a valuable strategy for financial institutions to engage millennials and improve financial habits, recommending a focus on personalized and interactive experiences in future gamified financial applications.