Funder is a new Huntington powered application that will rival every other FinTech application on the market. The framework that Funder is based on is the basic dating application. Allowing for the user to have easy access to stock investing by the simple swipe of a finger. Funder has an extremely “usable, accessible, and satisfying user interface” that will encourage the “younger generations” to start making income that works for them in their sleep (Game over: Robinhood pays $7.5 million to resolve “gamification” securities violations: Insights: Vinson & Elkins LLP 2024).
Although this all sounds like a great business model it is exactly what caused Robinhood to “pay $7.5 million” to resolve legal issues that arose from a “gamification” of finances that has now put them in “an awkward space” (Game over: Robinhood pays $7.5 million to resolve “gamification” securities violations: Insights: Vinson & Elkins LLP 2024). Garnering attention from younger generations is exactly what brick and mortar banks are striving striving for. To get younger generations involved the products need to provide a “fun and engaging way to rethink and manage personal finances” (Kostyra, 2024).
People are looking to “have total control over their schedule” and having applications that are easy to access and use promote this ability to “have control over their time” (Tepper & Lewis , 2024). Having this control can affect “motivation to work toward a variety of long-term goals” (Tepper & Lewis , 2024). Which is something that should be valued greatly.
Sources
Game over: Robinhood pays $7.5 million to resolve “gamification” securities violations: Insights: Vinson & Elkins LLP. Vinson & Elkins. (2024, July 1). https://www.velaw.com/insights/game-over-robinhood-pays-7-5-million-to-resolve-gamification-securities-violations/
Kostyra, L. (2024, August 27). Up’s hi-fi: The financially sound system blends art and music to help Aussies master money. designboom. https://www.designboom.com/technology/up-hi-fi-financially-sound-system-art-music-australians-money-08-26-2024/
Tepper, S., & Lewis , N. (2024, July 18). Research: People still want to work. they just want control over their time. Harvard Business Review. https://hbr.org/2024/07/research-people-still-want-to-work-they-just-want-control-over-their-time
