FinTech: Banking Giant Truist Acquires Gamified Savings App Long Game
The terms of the acquisition by Truist were not disclosed.
Truist Financial Corporation (NYSE: TFC) has acquired Long Game, a mobile savings gamification app that changes how users engage with their bank by using prize-linked savings and casual gaming to motivate smart financial behavior, driving account growth and client retention. The result of a 2019 merger between BB&T and SunTrust, Truist is the sixth-largest bank in the US and has $488 billion of assets. Long Game, founded in 2015, is a fintech startup with a team of 12 people. (CISION PR NEWSWIRE)
Long Game has raised over $20 million in funding and is led by co-founder and CEO Lindsay Holden. At Truist, she will lead a team for technology innovation and developing new client-facing solutions.
“Truist’s commitment to helping people build financial wellness is exactly what we are about at Long Game,” said Holden in a statement. “We’ve revolutionized bank engagement and are eager to apply ourselves to creating disruptive technologies that help Truist deliver a human touch in new ways.”
“At Truist, we are laser-focused on shaping the future of finance with innovative people and products – and democratizing entrepreneurial opportunity while we do it,” said 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.”
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