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Age-friendly banking
— what it is and how you do it | | Author(s) | David Steele |
| Corporate Author | Age UK; AARP Public Policy Institute |
| Publisher | Age UK, London, 2016 |
| Pages | 43 pp |
| Source | Age UK, Tavis House, 1-6 Tavistock Square, London WC1H 9NA. Download: http://www.ageuk.org.uk/Documents/EN-GB/For-profes... |
| Keywords | Bank accounts ; Building societies ; Financial services [older people] ; Consumer protection ; Attitudes to the old of general public ; Case studies ; United Kingdom ; United States of America. |
| Annotation | 'Age-friendly banking' should mean banking services, products and facilities that remain accessible and easy to use as people age, assist caregivers, and prevent financial exploitation. This report describes some of the challenges faced by older people in using banking and payments systems, and how banks in the UK and USA have been finding solutions to problems facing older customers. It includes 13 case studies of ways in which banks, building societies and clearing services in the UK and the USA are helping customers to avoid scams; prevent fraud, financial abuse or exploitation; and provide accessible services such as mobile bank branches and services for carers. Based on the case studies and feedback from older people, the report presents an agenda for innovation comprising: detecting and stopping financial scams; enabling caregivers to assist with banking; accessible branch banking; designing banking services to be age-friendly; better call handling systems; responding to customer vulnerability; and age-friendly products. An age-friendly banking checklist includes these points, and also seeks improvements that incorporate: appropriate flexibility in identification check; better ways of "passing security"; age-friendly technology; listening carefully and speaking clearly; pathways to better interest rates; removal of age restrictions on financial products; and understanding vulnerability. |
| Accession Number | CPA-160510001 B |
| Classmark | WNN: WNR: J: WYP: TOB: 69P: 8: 7T |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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