Yusheng Rush is a game where children learn to do budgeting, make tradeoffs on what they spend their money on. With Chinese New Year round the corner, PlayMoolah and OCBC Bank hope that children will make full use of their Ang Pow money and put them to good use.
And here is the Press Release.
PlayMoolah and OCBC Bank launch OCBC Yusheng Rush, a mobile game to encourage children to save their Chinese New Year ang pow money
Mobile app tailored to local market, as it features Singapore’s favourite CNY dish
Singapore, 4 February 2013 – PlayMoolah and OCBC Bank have jointly launched a new mobile app, called OCBC Yusheng Rush, in time for next week’s Chinese New Year period. The free-to-download app for the iPhone and iPad is targeted at the young at heart, who love their yusheng. Players need to purchase ingredients in a supermarket, in order to make a dish of yusheng, one of Singapore’s favourite Chinese New Year dishes. The objective of the mobile game is to help children understand budgeting and how to make tradeoffs on what they spend their money on. At the end of each game, users are reminded to bank in their ang pow money into the bank.
Bank deposits by young customers typically reach a peak during the Chinese New Year festive period. For OCBC Bank, the year-on-year increase of ang pow money deposited by children has more than tripled since the OCBC Mighty Savers programme started in 2007. The Bank hopes that OCBC Yusheng Rush will reinforce OCBC brand awareness among young families and further encourage this saving behaviour. OCBC Yusheng Rush can be downloaded at http://bit.ly/yushengrush
“We were delighted when OCBC Bank commissioned PlayMoolah to develop a new mobile app that encourages children to learn the value of money through savings. We designed the game to be fun and exciting for young players. OCBC Yusheng Rush teaches children to budget, compare prices and make trade-offs, while not overtly appearing like another financial educational tool. Games allow users to simulate their choices and learn how to make better financial decisions over time, while creating a safe environment for the users to learn from their mistakes. The launch of our new mobile app demonstrates how PlayMoolah continues to take a leadership role in driving financial empowerment alongside the digital engagement strategy for financial institutions around the world,” said Ms Audrey Tan, Co-founder PlayMoolah.
Players of OCBC Yusheng Rush must find the right ingredients for the auspicious yusheng dish, a unique cultural feature of Singapore. Money management skills are needed, as each ingredient has three different brands with varying qualities and prices.
Players make their selection to maximize the quality of their yusheng, while keeping within budget. Players have to be quick in order to complete the shopping within a stipulated time and extra points are awarded for how well they toss yusheng. At the end of every game, players are reminded to deposit their ang pow money into their OCBC Mighty Savers account. Players compete with each other to create the best quality yusheng dish with the given budget and OCBC Bank will provide the highest ranking player a pair of movie tickets, on a weekly basis.
OCBC Yusheng Rush is the latest addition to OCBC Bank’s digital strategy, where the leading bank aims to engage and reward its young customers. In Q4 2012, OCBC Bank partnered with PlayMoolah to provide its Mighty Savers customers access to PlayMoolah’s online platform, Moolahverse. This teaches 6 to 12 year old money management skills, such as how to earn, spend, save, give and invest their money, in a safe and fun manner. Young fans of Moolahverse cited the main lessons they learnt included how to save money, understanding the value of money and mathematics.
“Chinese New Year is a time for family bonding and a good time to teach our children the importance of saving as they receive their red packets. With this in mind, we worked with PlayMoolah to develop this iPhone game app, OCBC Yusheng Rush, to engage and bring to life budgeting concepts. This is in line with our OCBC Mighty Savers programme, which aims to teach simple money management skills to children. As the children enjoy the various Chinese New Year goodies, we hope that they will have fun playing this game and learn something about budgeting. Of course we also want them to remember OCBC and save their ang pow money with us after the festivities!” said Ms Ng Li Lian, Head of Mass Segment, OCBC Bank.
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PlayMoolah, OCBC Bank and two OCBC Yusheng Rush players enjoying a pre-CNY yusheng toss (Audrey Tan is second from left and Ng Li Lian is second from right)
PlayMoolah is an innovation company that designs authentic experiences for children to learn about money. Partnering with their parents and financial / learning institutions, kids learn to earn, spend, save, invest, and give in a way that’s fun, educational, and safe. PlayMoolah designs game mechanics to inspire real-world action, giving children the knowledge, skills, and tools needed for financial literacy. PlayMoolah is on a mission to empower the next generation to realize how money can help achieve their goals and create value in the world. PlayMoolah is supported by NUS Enterprise. www.playmoolah.com