BlackRock says Gamification Key for Engaging Millennials in the New Era of Investing

“The cofounder of BlackRock, the world’s biggest asset manager, thinks financial services companies need to be more like games: “[Millennials] love watching the car come get them. It’s a game…What we need to do is find the financial game that makes people feel comfort and safety. The winners, in my opinion, are going to be the people who have that game, have the technology, and have the brand.”

Source: www.businessinsider.com

LONDON — The cofounder of BlackRock, the world’s biggest asset manager, thinks financial services companies need to be more like games developers to win over millennial investors.

“Millennials want to game. It’s a game society,” Rob Kapito said at the Barclays New Frontier conference in London on Thursday.

“Most people use Uber because they’ll say you’ve got the card, it’s already paid for, it shows up — that’s not why people really like it. They love watching the car come get them. It’s a game. All of the technology is gamification,” he said. “What we need to do is find the financial game that makes people feel comfort and safety. The winners, in my opinion, are going to be the people who have that game, have the technology, and have the brand.”

Earlier this year BlackRock invested €30 million into Scalable Capital, a European app-only investment platform. BlackRock, which manages $5.7 trillion globally, also acquired FutureAdvisor, an automated investment platform, in 2015. ….[read full article at www.businessinsider.com]