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Fintech Friday: Launchfire

Publish date: 30 November 2018
Author: Launchfire

John Findlay, CEO of Launchfire, told Efma's Boris Plantier how the company’s innovative solutions are helping financial firms to educate customers and staff.

Game-based marketing and training company Launchfire has a history of innovation in web marketing. “Back in 1999 we started Launchfire because we thought the online advertising model was broken,” said John Findlay, CEO of Launchfire. “Banner ads that take the user away from their preferred content in order to visit a marketing website really didn’t make sense to us. It’s like running a TV ad on channel 7 that tells the viewer to turn to channel 50 to watch the advertiser’s 24-hour commercial. Nobody would ever do that! So we thought effective web marketing would nest advertising into addictive content. After some research, we realized that games were the most addictive content, so we started a company that nested brand advertising within online games – and the model worked!

“In 2005 we started building game-based eLearning programs based on the same premise. If you want people’s attention, make sure there’s something in it for them. Again, the model worked!”

Launchfire’s Playbook solution provides game-based marketing for financial firms, which educates customers about their digital banking products. By rewarding customers for using their app, banks can achieve a 17% increase in digital banking registration and a 26% increase in mobile app engagement. The solution also enables the organization to track key metrics and prove the business impact of their campaign.

The company’s Lemonade solution enables financial firms to create rich learning experiences using game-based training, product simulations, and role-play scenarios — all framed within an addictive narrative. The app, which integrates with existing learning management systems, customer relationship management and employee rewards platforms, uses real-time analytics that measure performance, identify gaps, and prove business value.

Launchfire continues to develop new features to build on its success. “From a tech standpoint, we’re adding two new features to our Lemonade platform in the coming months,” said Findlay. “The first is our artificial intelligence (AI) content development bot. This will read your existing training or marketing content and, using natural language processing and AI, author cohesive bite-sized learning content.”

The second new feature is Launchfire’s sharable content object reference model (SCORM) handler. “Most training content is packaged using the older SCORM protocol,” said Findlay. “Our new SCORM handler will allow our customer to import their SCORM content into the Lemonade environment.”

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