Seniors more tech-savvy than we think

Older Australians continue to use 'new' banking technology, with CommBank data showing 50 per cent of customers over the age of 65 use ATMs.

 

Additionally, one in four customers over 65 is now banking digitally through NetBank and the CommBank app – a 41 per cent increase over the last two years.

 

Commonwealth Bank General Manager Retail Sales Strategy and Projects Anna Mankiewicz says the research indicates a shift away from over-the-counter transactions traditionally used by older Australians.

 

That’s despite industry research showing age is still a key factor in people’s ability to use and keep up with technology.

 

“What we find in our everyday interactions with older customers is that, when it comes to keeping up with the fast evolution of technology, it is confidence they lack, and not capacity.

 

“This is a testament to the support our branch teams provide to older customers in using banking technology, as well as the work we do partnering with industry peers and government departments to provide that confidence and knowledge they need,” Ms Mankiewicz says.

 

CommBank has partnered with NSW Government and Telstra to develop an online banking module for their Tech Savvy Seniors program.

 

The “Introduction to Online Banking” module teaches seniors how to navigate online banking screens, view statements, transfer money between accounts, and complete other common banking tasks.

 

“Australia’s population is ageing. Currently, around 15 per cent of our customers are older than 65, so ensuring they get the right customer experience using any of our banking channels is incredibly important,” Ms Mankiewicz says

 

Online banking in particular can offer big savings in time and convenience by not having to travel to a bank branch to access money to pay bills and reduced transportation costs by not having to pay bus fares or incur car petrol costs.

 

It also provides increased security because of the reduced need to carry large amounts of cash and the ability to pay bills in the privacy of your own home.

 

Many of the risks associated with online banking can also be easily managed by ensuring that personal computing devices or phones have current software updates and anti-virus software installed – for security and peace of mind.

 

See also the Your Life Choices article “Congratulating you for using ATMs is downright patronising”.

 

20 September 2017.