The key to financial education is engagement. Participants learn best when they can apply information to real-life situations that provide understanding and feedback.
That’s especially true in a digital environment that competes with social media and gaming.
Zogo is a financial literacy app that pays users to learn. Li founded Zogo from his dorm room at Duke University in 2018 after virtually sleeping through a boring lecture on financial wellness.
In this interview, Li describes how credit unions can partner with Zogo to provide a better financial education option to members, especially the younger generation. The app has more than 700 modules that cover a range of topics, and each takes just a couple minutes to complete.
As Li says, Zogo turns fear of financial literacy into fun, which creates opportunities for both credit unions and their members.
In this episode:
2:06: Where the idea for Zogo came from
2:50: The process of starting the company
3:40: The need for financial literacy among young people
4:22: The financial challenges of the younger generation
5:00: How Zogo engages users
5:50: How Zogo works with FIs
6:47: What makes Zogo unique from competitors
7:58: How Zogo’s games work
8:37: Plans in the works
9:38: Involvement in crypto
10:42: Possible growth paths