South African insights into seniors and online banking


Courtesy: Springbok

Courtesy: Springbok

South African researchers recently conducted a survey of residents of several local nursing homes to gauge seniors’ comfort level with online banking. Overall, they looked upon it favorably, with several important caveats.

As reported by South Africa’s IT-Online, “71% of the respondents said they found it easy to configure new technologies on their own and 70% said they kept up with new technologies in their areas of interest.”

By contrast, “Only 24% felt that it was safe to perform financial transactions via computers while the majority of respondents, 69%, indicated that computers were not safe…[only a small portion] 16%, was convinced about the safety of the technology used in banking applications.”

Our favorite finding: “The low levels of trust towards technology-based banking services and applications manifested in the belief that technology always seems to fail at the worst possible times.”

This was one study of 70 people in South Africa, but that last finding seems fairly universal.