Mission

Our mission

Saving money is boring. Do you procrastinate when it comes to saving or find it hard to put money aside? Do you end up wasting a lot of money playing games? At EverUp our mission is to make saving fun, and we reward you for it too!

Let’s build EverUp together. Banish boredom and make saving fun with EverUp!

Financial inclusion purpose

Research says that a prize-linked saving scheme is one way to increase financial inclusion given its effectiveness with low and moderate- income households. Considering that financially vulnerable individuals represent a disproportionate number of lottery participants who end up losing the money they put at risk, a savings product that feels very similar to traditional games has the potential to boost savings in this sector of the population. A prize-linked saving scheme retains the short-term gratification of the lottery to attract non-savers but helps to turn them into savers.

The thrill associated with winning a prize can induce many low- and moderate-income non-saving households who are unbanked to take the first important step to opening a bank account.

We believe financial institutions need to change the way they serve lower income customers, and we believe that EverUp is the way to crack the code on financial inclusion.

Turning non-savers, lottery players and gamblers into savers

For too many people, saving is both hard and impractical. EverUp wants to provide you with an effective path towards financial health by applying existing and familiar lottery-like games to personal finance management.

Our prize-linked product suite offers more incentives to save than a traditional savings account, where you may be discouraged to save by low interest rates. Families that play the lottery all tend to spend roughly the same amount regardless of economic status. By offering our own version of the lottery and instant-win games that are both free to play and offer a chance at winning real money, EverUp provides an incentive to save money and have fun while doing it, instead of spending it on trivial expenses or, indeed, real gambling.

Academic research has demonstrated that there is a strong substitution effect between a prize-linked saving scheme and lottery or even gambling. Wherever a prize-linked saving scheme has been tested, there is strong evidence of a reduction in gambling and a parallel increase of the same magnitude in savings.

A prize-linked saving scheme is about building positive saving habits. We want to tap into behavioural economics and the widespread popularity of lottery games to redirect lottery spending towards personal savings. Unlike the actual lottery, at EverUp your money is never lost, as it is not used to play.

Changing the way people think about saving

Our concept is simple. We all know we need to save money for our futures or rainy days, yet most of us struggle to do so because humans are wired for instant gratification. In other words, we want rewards quickly. The decision to save money takes time and requires logical thought and therefore does not come naturally to most of us.

Our mission at EverUp is to make savings – and generally good financial behaviours – fun and rewarding. We do this by embedding games and lotteries into a novel prize-linked suite of money and savings accounts.

We want to create an engaged community that believes in what we do. Join the EverUp movement today, and become an EverUpper! #SavingMadeFun

Our logo: the Hummingbird

Our logo is the hummingbird. We have chosen a colourful one, as hummingbirds are seen as a symbol of joy, playfulness and good luck.

There is something magical about the hummingbird that makes it like no other creature on Earth. Unlike all other flying animals that need to travel forward to stay aloft, the hummingbird can also hover, i.e. can stay in the same spot by rapidly flapping their wings. We thought that this also resonates very well with our name “EverUp”, which underpins our desire to help you become financially strong and independent, and live a happy life.

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