An Innovative Solution to Move South Africa Forward Financially

Imagine a world where we instinctively know how to manage our money…

• iProspa is an application that incentivises people to save by providing them with the ability to earn discounts on real-life products & services such as cellular phones, tablets, clothing, jewelry, bank fees, training courses and so on.
• The game can be played by anyone with online access. The main objective of the app is to teach people how to manage their personal finances in a fun, interactive and rewarding way.

Gaming has proven to be effective in the following ways:

1. Creates a platform for social interaction
2. Provides a tool for education
3. Promotes entrepreneurship
4. Facilitates an environment where players can challenge, inspire and invoke
5. Promotes problem-solving

A thriving economy depends on financially literate consumers! The need for personal finance skills development is widespread:

1. Lack of adequate focus on financial literacy in school curriculums
2. Life-long disadvantages for financially illiterate people
3. Chronic debt situation for the majority of citizens
4. Extremely low levels of savings
5. Real disposable income growth is declining
6. Employment prospects in private sector are weak
7. Consumes face higher interest rates and higher debt repayments

The potential partners of the game and app include the following:

1. Retailers
2. Financial institutions
3. Training companies/Human Resources departments
4. Parents
5. Independent ( private) schools
6. Government ( Education and Social Development)
7. NGOs
8. Consumers, especially those who seek out loyalty benefits and deals
9. Students

The game and app will benefit the various partners in the following ways:

1. Access to database of consumers ( spending, saving & investments behaviour)
2. Competitive advantage by providing incentives & rewards for ongoing engagement
3. Ability to promote products & services, for instance, in-app product placement
4. Rewards(Loyalty) scheme opportunities
5. Ability to promote mobile payment services
6. Compliance with regulations, for instance, Financial Services Charter and Corporate
7. Social Investment mandates
8. Game-based learning leads to well-informed consumers, employees, students & learners

The app assists consumers/employees/learners/students in the following ways:

1. Provision of financial education and knowledge ( saving, budgeting, debt, investing, the benefits of insurance, needs versus wants, and so on)
2. Entertainment, interaction and competition with others
3. Access to rewards programmes/loyalty schemes whereby consumers can achieve savings on real-life products and services
4. Access to mentors, financial advisors, landlords, recruiters and so on

The app is unique in that it successfully combines financial education with loyalty/rewards programmes. Furthermore, it provides players with the ability to earn discounts on real-life products and services.

Revenue is primarily generated in the form of a licence fee per user model. Recurring income is derived from monthly and annual subscriptions for ongoing usage of the application. In gaming or app parlance, the freemium model is adopted whereby the basic game is free to the end-user, but a premium is charged to users wanting additional features/services in the game. In other words, there will only be a limited range of prices and options available. The app will also generate revenue via in-app advertising.

iProspa will be promoted in the following ways:

1. Product launch
2. Social media (Instagram, Facebook, etc)
3. Word of mouth (viral marketing)
4. Partner websites and social media platforms

Ultimately, the app becomes successful when adequate people are consistently using the app and redeeming their discount rewards.

The versatility of the game/app engine seamlessly allows for additional features and versions, for instance, changes in currency and adapting to needs of consumers in different geographical locations.