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credit: LemonadeLXP all-in-one learning experience platform for financial institutions
LemonadeLXP, a 2020 International Serious Play Awards entry in the Corporate/Vocational category, has an ambitious value proposition for companies that need to reduce
costs while training employees faster: a game-based learning experience
platform that speeds up time-to-proficiency with addictive microlearning. According
to the developers, Lemonade drives
distributed practice so learners master the skills they need to succeed in
their jobs at a record pace.
LemonadeLXP For Financial Institutions
(FIs)
FIs have spent millions over the past few years developing new digital
banking products, self-imposing the challenge of getting consumers to adopt
them. This adoption is often lagging.
LemonadeLXP helps
drive adoption of digital banking products by delivering immersive experiences
that turn FI staff into digital products experts. Combining microlearning for
bank employees and a digital adoption platform for FI customers and frontline
staff, LemonadeLXP is specifically designed to tackle that
challenge:
“FIs are regularly releasing new banking tech
but are struggling to get their customers to use it. In order to foster digital
adoption, frontline staff need to act as advisors and recommend this tech to
customers. However, employees do not always bank with the institution they work
for. This means frontline staff are often unaware of new banking technology, do
not know how to use it, and are not prepared to recommend it — or even answer
questions about it — in retail settings.”
Lemonade addresses
this issue by providing quick, game-based daily learning sessions for frontline
staff. The platform uses microlearning modules to teach basic product facts,
interactive product walkthroughs to give employees hands-on experience using
new tech, and role-playing scenarios to let frontline staff practice
recommending products in simulated retail situations.
Lemonade learners
are encouraged to take courses daily, and repeat courses regularly, so the
knowledge becomes ingrained, and the application becomes habit. Lemonade can be
accessed on demand, on any device, and each module takes only a few minutes to
complete. On average, Lemonade clients
see a 106% increase in voluntary participation, a 288% increase in repeat
engagement, and a 91% increase in digital product recommendations.
About LemonadeLXP
John Findlay, a founding partner of the digital engagement agency Launchfire
established in 1999, is also the founding partner and CEO of LemonadeLXP. In his
too-many years in the business he has developed digital engagement strategies for
a mighty impressive list of leading marketers.
In 2018 John and his team decided to use their expertise to address
another type of experience: corporate training. They started a SaaS (Software
as a Service) company, LemonadeLXP, a learning
experience platform that helps financial institutions make their training
experiences more engaging and effective.