Financial literacy in India has been very low, despite a plethora of consumer education initiatives in recent years by financial services firms. This was probably so because of the complexities around financial jargons which would disinterest the masses.
For such initiatives to achieve material impact, a radically different approach was the need of the hour. Franklin Templeton Investments recently took up a clutter-breaking initiative aimed to increase financial literacy, in a format that everyone could enjoy and in a language most young people would understand best. ‘Fundtastic Cup’ – a cricket-themed online and mobile game that unravels the mystery of finance & Mutual Funds in the simple language of cricket.
A fun, simple and engaging ‘Fundtastic Cup’ would throw interesting questions on finance and Mutual Funds, making players score runs with each correct answer and qualify for a chance to win exciting prizes through lucky draws. These prizes included I-Pads, Kindles, Mobiles, Tablets, goodie bags and one grand prize for a lucky winner in the form of a trip to Australia.
Available on desktops, mobiles and as an iOS and Android app, this exciting game consisted of 1,800 questions on investments & Mutual Funds. It was designed to meet varied competency levels across players – starting from very basic questions to eventually more challenging questions around Mutual Funds.
At the end of the game, there were more than 100,000 participants, more than 15,000 days spent in the game and 8.4 million questions answered. The app has been installed more than 241,675 times and had topped the education category in the Android Play Store during its peak. The 5 highest scoring players have an average score of 205,000 runs and have answered all the 1,800 questions (with an average of 1785 correct answers) in the game along with the jackpot questions till 31st January 2015.