What Could Go Wrong Files? Golf And Gamification As A Way To Teach Financial Literacy To Millennials

American Banker's Mary Wisniewski previews Regions Financial's plan to test "gamification" (new word alert!) as a way to "teach financial literacy to millennials with a mobile app that simulates a sport more commonly associated with older generations: golf."

You know how it tugs at my heartstrings to hear how we're reaching to the young people today to empty pocketbooks of what they aren't using to pay off college loans make their lives better.

Games are seen as one way to "try to spoon-feed financial education into a fun and interactive way to keep kids' or young adults' attention on a subject," said Corey Carlisle, senior vice president of bank community engagement at the American Bankers Association.

Michele Elrod, Regions' head of marketing, said the game tries to help young consumers learn financial skills through a medium that resonates with them. "Games are really popular," she said.

The $119 billion-asset bank, which tested the app with millennials, said golf is a game many people have experience with, even if some of them have only played miniature golf. It also chose golf because it is an individual rather than a team sport, useful for illustrating how a person's choices influence their personal finances.