Truist Bank Acquires Long Game Mobile Savings App

After many years and evolutions, the prize-linked savings platform Long Game is entering a new phase after being purchased by one of the largest banks in the United States. Today, Truist Bank announced that it had acquired the gamified savings app. Terms of the deal were not disclosed, but Long Game has previously raised $17 million in funding. According to Truist, the bank plans to leverage the app’s technology in order to help its customers enjoy long-term financial wellness. In particular, the bank notes that the platform will increase engagement and financial education among Millennial and Gen Z users. 

Long Game was founded in 2015 in a bid to help consumers grow their savings by rewarding them with free games that could yield real prizes. While the app originally launched as a standalone platform that would hold customer deposits, it relaunched as Long Game Rewards in 2021 with partners NBKC and Varo. This version of the app allowed customers to simply link their accounts to earn tokens and would automatically deposit any winnings.

With Truist’s acquisition of Long Game, the FinTech’s engineers, designers, and business leaders will be welcomed to the bank’s Innovation team. Additionally, Long Game’s co-founder and CEO Lindsay Holden will lead a team that will develop client-centric tech solutions. That team will be based in San Fransico.

In a statement, Holden said of the acquisition, “Truist’s commitment to help people build financial wellness is exactly what we are about at Long Game. 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.” Meanwhile, Truist’s CIO for Consumer Technology and Innovation Ken Meyer said of the FinTech, “This acquisition is a critical component of a broader innovation strategy at Truist that will future-proof our core businesses and attract inventive and entrepreneurial talent to help deliver new and groundbreaking solutions. We’re incredibly excited to welcome Lindsay and the Long Game team as we roll out this strategy and create new and distinctive experiences for our clients.”

As a long-time observer of Long Game, this deal makes a lot of sense. While it was clear from the get-go that Long Game was onto something, it was never quite able to find the right avenue for its technology and platform. Yet, the company has proven resilient, coming back after an initial shutdown and other stumbling blocks. Thus, it will be interesting to see what the app’s future looks like in the hands of Truist.

Also published on Medium.

Leave a Reply

Your email address will not be published.


Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded in 2015 to focus on personal finance and the emerging FinTech markets.

Other Articles by Jonathan Dyer

Gas Prices Reach New Record Highs Ahead of Memorial Day Holiday

With the Memorial Day holiday weekend ahead, motorists are likely to be paying more to fill their tanks. According to the latest figures from GasBuddy, average gas prices hit new record highs this past week — marking the fifth week in a row that prices have climbed. The app's data (collected from more than 150,000 stations across the country) show an average price of $4.57 per gallon, which is up 11¢ from...

Progressive Announces "Driving Small Business Forward" Grant Program

Small business owners hoping to add some wheels to their operation may have a chance to do so thanks to a newly-announced grant opportunity. The well-known insurance provider Progressive has announced the launch of its Driving Small Business Forward grant program. Partnering with the accelerator Hello Alice, this program is specifically aimed at Hispanic entrepreneurs and will include 10 $25,000 grant winners. These funds can then be used toward the...

Banking-as-a-Service Platform Unit Raises $100 Million

Put another tally mark on FinTech "megadeal" board for 2022. This week, Unit announced that it had closed a $100 million round. The Series C was led by Insight Partners. Existing investors such as Accel, Better Tomorrow Ventures, and Flourish Ventures also participated along with newcomers Moving Capital and Stepstone. Notably, the round valued the company at $1.2 billion, earning it "unicorn" status. To date, Unit has now raised a...