Insights

Gamifying your Investments

September 12, 2016 . Nilakantan Rajaraman

As you login to your account, you’ll now see on the top right corner a box that tells you where you stand among your peer investors! This will help rank yourself among your peers and will also act as an instant financial health check for you. We have a podcast that explains the various aspects of it and you can listen to it here.

We hope you like it!

Here’s a quick primer for you on the gamification module to get you started,

What is the gamification module? Why do you call it gamification?

It’s a feature that ranks you among your peer investors so that you know how you are doing relative to others. It’s called gamification because it introduces game thinking and game elements into investing. It encourages your good investment choices and discourages your bad ones.  On your dashboard you’ll see it thus.

Gamification P1

What’s the score?

 It’s your percentile rank. It tells you where you stand among your peers.

What’s the score based on? Is it merely telling me how much money I have?

 The score is based on multiple factors. It doesn’t merely rank you on the overall value of investment. It also takes into account how disciplined and systematic you are. So it’s quite possible that while your friend may have more actual money invested, your score may be higher if you are following a systematic and disciplined approach to investing. In the long run, that just puts you on a path to possibly having more money as well!

What else is there on this feature apart from a score?

You can earn badges. Each positive behaviour that we believe will make you a better investor will earn you a badge. It’s a recognition of your effort in staying put as a disciplined investor. Your trophy case will look thus,

Gamification P2

Can I share the badges I earn on social media?

Not yet, but you should be able to do that soon in the future. We are still thinking a bit about balancing your privacy with the joy of social validation and sharing.

What is a good score?

Generally, the higher your score the better you are as an investor.

What are activities that you punish in terms of scores?

Frequent redemptions, non-systematic and sporadic investment practices that suggest you’re trying to time the market instead of being disciplined are some of the factors that may result in your score trending down. The other important thing that may contribute to a lower score is if over time your peers have improved and you haven’t.

I’m doing well. I have 4 stars. How do I get to 5 stars?

Well done! The way you improve your rank is by being a systematic and consistent investor. So the easiest way to do that is by starting a new SIP of a reasonable value. But remember these are relative ranks. So your rating also implies there are those many people in the system who are doing those very things you are expected to do. But better!

 

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