Finance has become a lot like War. In today’s increasingly economic and money-driven world, keeping on top of one’s finances has become akin to entering the battlefield. With an ever-increasing multitude of terminologies, account types, money systems, and transaction options, the world of banking has become one of the most time-consuming and complex industries in the world. Despite this ever-increasing complexity, thousands of individuals are thrust daily into this overwhelming system and more often than not, lack the proper training to succeed and be self-sufficient. In a world like today’s – shaped by the mobile mind-shift – new disruptive technologies and mobile devices alike have given birth to new business models and methodologies. Education concerning these new business models must likewise keep up. Proper training, meaningful practice, and the proper tools: You would never enter a war without them and like I said, finance has become a lot like war. The U.S. army, always one step ahead, has truly epitomized the idea of taking advantage of this technological age. How can technology change the way we do things? Look no further than the virtual simulation game, American Army. Considered the number one recruiting tool on the planet, the U.S. government has showed us the pinnacle of gamification methods to promote awareness, national loyalty, and even attract new recruits. Released in 2002, this multiplayer tactical shooter game truly brings the reality of war into a game and, for many, has been indispensible in gauging whether or not he/she has what it takes to be a US soldier. The way it works is simple; you play a first person shooter style video game that has all the elements of real war. By going through the simulation, you get a taste of whether or not the experience is for you – learning valuable information along the way regarding all the nuances of being a soldier. You are playing a game, but at the same time, you are learning so much more about war than you ever could from reading or hearing about it. An old chinese proverb goes like this, “Tell me and I will forget. Show me and I may remember. Involve me and I will understand.” I believe gamification is the epitome of what this saying teaches – true understanding does not come from instruction but rather from experience. With a game feature like a virtual simulation, any area of life – in this case, war – can be fully experienced and understood by someone before they even step foot in that specific arena. On top of the invaluable feeling of experience one gets from this, such an engaging and simulative experience is imprinted upon one’s brain at not only the level of information processing located at the frontal cortex but also at the deepest levels of emotional reasoning in the hypothalamus region of the brain. Involving numerous senses and fully engaging a player helps to bring one quickly beyond the level of mere information to the level of true and deep knowledge of a subject. Furthermore, when playing a game, one becomes a true expert at a certain skill or task without even realizing and in a, dare I say it, fun way. The idea that finance can be fun is hard to swallow at this point in society’s development but to be honest, I don’t think it requires that great a leap of faith to believe it soon could be an enjoyable experience when something as gruesome as war has been transformed into a worldwide hobby for Call of Duty enthusiasts!

The benefits of the emotional connection forged through such gamification spill over into a variety of other byproducts. Feelings of loyalty, achievement, and progress can not only be created but meaningfully imprinted into the player’s psychology. Our ancestrally inherited neural pathways are in need of genuine emotional happiness, success, and purpose to keep us going – feelings that undoubtedly increase brain dopamine levels and, along with it, further our motivation, commitment, and drive in any area of life. Virtual simulative gamification helps to bring a true emotional aspect and multi-dimensional level of educational involvement to its players; leading to undeniable increases in the brain’s feeling of motivation, loyalty, and purpose.

This idea of virtual and simulative gamification is not new; its successful

implementation has been demonstrated time and time again. In addition to quickly becoming the U.S. Army’s most effective recruitment tool, this version of gamification has proven successful in a variety of other fields including medicine and even in planning your freshmen year of college! ArchVirtual, a virtual simulation company at the forefront of VR implementation, has created numerous successful medical simulations for the health care field. These virtual simulations help to amplify the experience of medical training by using cutting edge VR technology like the oculus rift. With the now blossoming field of VR tech that is taking lead in the gaming industry, new simulation experiences can be fully immersive and truly innovative. The ability to educate health care professionals on not only the information regarding medical practices but also with the emotional impact of health care facilities, patient interaction, and real life or death scenarios has already helped to create a new era of experienced and effective medical professionals prepared for truly any emergency. While these simulations are far from being mere games, such technology has brought indispensible sources of education on the experiential and emotional level. The benefits of virtual simulation and emotional connection don’t find their place only in the high risk scenarios faced by medical professionals but bring great hope for the often overlooked but extremely strenuous experience of your first year at college. The University of Pennsylvania offers a virtual reality first year planner to their incoming college freshman. This online program allows them to virtually live through their first year at UPenn while choosing what they will do each day; studying, choosing to hang out with friends, when to visit a professor’s office hours, and even when to take showers or use the bathroom. This virtual “first year planning game” has helped thousands of UPenn freshman experience what their first year of college will be like before they even step foot on campus. This application also provides surprise events like a pop quiz or asks them what they would do in the event of an upcoming exam – predicting their expected levels of success in academics, their social life, and yes, even their hygiene.

While such methods of virtually living through your first year of college or taking

part in a knee surgery before you ever step foot in a college campus or hospital may seem unnecessary for some, the benefits of this type of training and experience are undeniable. Creating motivation and providing effective education are two majorly challenging tasks in any area of life. However, the use of immersive virtual reality gamification has proven time and time again to succeed on an informational, emotional, and motivational level. It’s about time this same type of training comes to the world of finance.

RBC has a multitude of options when it comes to pinpointing an area where virtual reality gamification can prove successful. In my opinion, the best area for RBC to begin gamification is in wealth management. Money is power to change the world, and the most important aspect of this is managing your money to serve your goals in the best way possible. Many people are idealistic when it comes to what they want to do with their money and idealism brings about change. Learning to manage one’s money and turn it into meaningful source of investment and increasing one’s financial security are indispensible resources in today’s world. RBC already offers one of the world’s best and most consumer-focused sources of wealth management expertise and gamification could serve to bring this experience to the next level. RBC’s MoneyGrow: a mobile gaming experience with an accurate and realistic economic environment where an individual lives a virtual role-playing experience with in-game currency. Through the game, the user would use a set amount of currency that is similar to their own to learn the ways of investing and money management. Using RBC’s already proven expertise in wealth management, through the game users would learn the real-world applicable methods of investment and building financial security. These methods would be applied to an accurate in game model of Canada’s real economy so that the user can see the real world effects of their actions with their money. By creating a game simulation experience with accurate economic variables and processes, users would not only be educated on the world of wealth management but also gain indispensible experience regarding the effects of their actions and what long-term benefits such actions can bring about. Soldiers, medical professionals, and college students use this type of training each and every day to do what they do in the best way possible. It’s about time everyone can train for the financial battlefield in a fun and effective way.