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(VNF) – Cyclic was produced with the aim of creating a fun and risk-free environment to help players experience, and learn about, a range of different financial investment channels.
The Origins of Cyclic
From the early days of setting foot in Asia to deploy financial services and products in various fields, a group of financial experts from the UK had been pondering over a suitable tool to attract Asian people to become interested in learning about financial investment channels, especially proactively establishing a personal financial plan to have a sustainable future and financial security.
After a long time of nurturing the idea, the experts came to a unanimous decision to adopt a gamification method. This resulted in the creation of the Cyclic financial game which provides a risk-free environment for players to experience a variety of different financial investment channels in a simulated economy. The game is designed to help players to clearly understand the role, meaning and nature of each financial product. From there, they can confidently plan their own investment/financial management plan for each stage of life, with the aim of achieving a well-funded retirement. This, in turn, would contribute to the national social security and, ultimately, to the economy, of the respective countries.
As a leader in the field of gamification in the financial sector, Cyclic was officially released in the Vietnamese market in 2017.
Regardless of age or educational level, all players only need to know how to do the four basic arithmetic operations: addition, subtraction, multiplication and division, so as to grasp the rules of the game, to confidently experience various investment activities, and to grasp the meaning of a wide range of financial concepts in a fun environment. As such, Cyclic is considered by many financial services companies as a breath of fresh air in the field of training, coaching and marketing activities.
All versions of Cyclic are registered and copyrighted. NRH Vietnam exclusively owns, applies and deploys Cyclic for partners in the Vietnamese market.
Cyclic is a tool that helps financial advisors elevate their consulting behaviour
After the recent incidents, fluctuations and negative information in the financial market, people have not yet been able to restore their trust in financial investment channels in general.
Financial advisors need not only to quickly find solutions to enhance their capabilities and elevate the standard of their consulting service, but also to have new ways to attract the attention of customers.
In an interview with VietnamFinance, Mr. Nigel, General Director of NRH Vietnam, said: “As a financial advisor, you will usually only introduce to customers, and advise on, those products and services in the field you are trained in.
Nowadays, customers are smart enough to recognise when you are promoting a specific product or service due to the attractive commission that you might earn from it. This creates a barrier for financial advisors when looking to help clients.
Cyclic helps you to overcome this barrier. Instead of introducing and promoting a specific product, you can invite customers to participate in a risk-free environment, to experience a variety of different financial investment channels, and to face different opportunities, challenges, and risks at each stage of life.
The Cyclic game experience can be seen as a look into the future, whereby players can see the overall financial picture of themselves at retirement, formed by their own decisions at each stage of their life. With this financial picture, you can discuss with your customers the advantages and roles of those financial products and services that may be suitable given their risk appetite and their short and long-term goals at each stage of life. In this way, your customers will have a different perspective, and, with the barrier overcome, they will listen to you more earnestly.”
financial knowledge and opportunities, risks, challenges and investment experience gained from playing Cyclic are shared, discussed and applied to real life.
Cyclic: Aiming to Enhance Financial Planning Awareness in the Community
Through its various versions and customizable playing times, Cyclic introduces basic financial concepts, allowing players to experience the process of establishing income streams and managing expenses.
Players also gain an understanding of how identifying, processing, and making timely and appropriate investment decisions amidst economic fluctuations can positively or negatively impact their financial well-being. This empowers them to proactively and seriously establish a financial investment plan aligned with their individual financial goals.
NRH’s team of Cyclic experts in Vietnam is always ready to collaborate with associations, educational institutions and financial services organisations to deploy Cyclic in ways that are tailored to specific audiences and needs. The ultimate goal is to raise financial planning awareness within the community.