The $544 billion-asset Truist did not disclose
the price it paid.
Long Game uses prize-linked savings and casual
gaming to motivate smart financial behavior. The goal is to add new accounts
and retain clients.
Truist said it will leverage the acquisition
to help clients “build long-term financial wellness and advance its purpose to
inspire and build better lives and communities.” The company said Long Game’s
technology is complementary to Truist Momentum, a workplace financial wellness program.
"We are laser focused on shaping the
future of finance with innovative people and products – and democratizing
entrepreneurial opportunity while we do it," Vanessa Indriolo Vreeland,
head of corporate development and Truist Ventures. "Long Game is a
female-led business with a diverse team of incredibly talented innovators
creating unique solutions to help people achieve financial confidence."
Long Game co-founder and CEO Lindsay
Holden will lead a San Francisco-based team of engineers, product managers
and designers.
Alston & Bird advised Truist.
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