Russian bank Alfa-Bank has launched a new programme that offers financial rewards to customers who are healthy and active.
"It allows people to earn money through their active lifestyle," says Lucas Zaiden, creative director of Agency 42 – the Russian creative agency that worked with Alfa-Bank to develop the programme. "The more you move, the more you earn."
Launched last month, the system works by allowing customers to connect their fitness trackers – such as Jawbone Up – to their Alfa-Bank account. Money then starts to be transferred from their savings account to a special high-interest account that is only accessible through the programme. The more a customer exercises, the more money is transferred.
Alfa-Bank claims the programme has encouraged its customers to save up to twice as much as average clients, and take 50% more exercise. Financial rewards are proving to be a popular incentive for consumers in the health and fitness market – see Next-Gen Dieting for more. For further banking-based innovations, see Personalising the Banking Experience and New Banking in the US.