Digital Banking Issues Experienced by Older People

Nowadays, digital banking is a crucial component of contemporary financial systems, providing customers all over the world with efficiency and comfort. However, using digital banking platforms presents special difficulties for older persons, which can obstruct their ability to be financially independent and included. The purpose of this research abstract is to investigate and clarify the challenges older people have when embracing and using digital financial services. Based on extant literature and practical investigations, this study highlights multiple significant obstacles encountered by senior citizens when it comes to digital banking. These difficulties include technological impediments that make it difficult for older consumers to access and efficiently use online banking services, such as low digital literacy and unfamiliarity with digital platforms. In addition, intricate user interfaces and security issues compound these difficulties, causing older people to become frustrated and anxious. Moreover, insufficient accessibility features and a lack of tailored support on digital banking platforms further marginalize senior citizens and hinder their capacity to interact with financial services on their own. Furthermore, in the context of digital banking, older persons' sentiments of alienation and loneliness are made worse by the absence of strong support networks and mentorship. This research attempts to provide light on the various difficulties older individuals encounter when using digital banking through an extensive assessment and analysis of the body of previous knowledge. Understanding these issues can help policymakers, financial institutions, and tech developers create more focused interventions and inclusive digital banking solutions that meet the varied needs of senior citizens. This will promote senior citizens' financial inclusion and empowerment in the digital age.