Despite the revolutionary finance tools at the hands of the everyday consumer, there are still hundreds of millions of Americans with less than $500 in savings, and younger people are increasingly at risk of financial hardship. That’s according to Lindsay Holden, Co-Founder and Chief Executive Officer of tech startup Long Game, which strives to help users increase their financial knowledge with a mobile app that operates like a game.
Long Game has drummed up a great deal of interest since its founding in 2015. As of May 2022, that interest has carried the startup to a different playing field, having been acquired for an undisclosed amount by banking giant Truist, a North Carolina-based bank with nearly half a trillion dollars in assets.
“We view ourselves as a giant startup,” said Truist’s Head of Corporate Development Vanessa Vreeland. “And as we were looking to expand our offerings for our retail bank, we were looking for ways to not only acquire customers, but to deepen our relationship with them.”
To that end, she explained, Truist stands to gain a great deal by pursuing a younger clientele using app features and marketing techniques that would be more familiar to digital-first users. Long Game’s prize-linked savings and other exciting financial tools will soon be made available to Truist customers through the bank’s app.