Truist Financial in Charlotte, N.C., has acquired Long Game, a gamified finance mobile app.
The $544 billion-asset Truist did not disclose the price it paid.
Long Game uses prize-linked savings and casual gaming to motivate smart financial behavior. The goal is to add new accounts and retain clients.
Truist said it will leverage the acquisition to help clients “build long-term financial wellness and advance its purpose to inspire and build better lives and communities.” The company said Long Game’s technology is complementary to Truist Momentum, a workplace financial wellness program.
“We are laser focused on shaping the future of finance with innovative people and products – and democratizing entrepreneurial opportunity while we do it,” Vanessa Indriolo Vreeland, head of corporate development and Truist Ventures. “Long Game is a female-led business with a diverse team of incredibly talented innovators creating unique solutions to help people achieve financial confidence.”
Long Game co-founder and CEO Lindsay Holden will lead a San Francisco-based team of engineers, product managers and designers.
Alston & Bird advised Truist.