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BizReport : Internet : January 29, 2015

Banking industry figures show silver surfers avid users of Internet, mobile banking

Online banking is not just for the young. New figures published by the British Bankers' Association reveal that almost 2.3 million customers aged between 70 and over 100 years old now use Internet banking and the oldest customer to have downloaded a banking app is 108.

by Helen Leggatt

Online banking is booming among older age groups. The British Bankers' Association (BBA) recently revealed that 2,267,597 bank customers over the age of 70 are now registered. Of these, more than 600,000 are over the age of 80.

Furthermore, 450,000 customers over the age of 60 have downloaded banking apps to smartphones, iPads and tablets. The oldest, an HSBC customer, is aged 108.

And, older users are not just dabbling with online and mobile banking, they were found to use the technology "as frequently or only slightly less" than younger customers. In addition, the published figures show that some banks are currently seeing faster growth rates for digital services by customers in their 70s and 80s than for younger generations.

"These figures shatter the myth that this technology is only for younger generations - millions of older people are avid users of banking websites and apps. Banking on the move is as much a reality for silver surfers as it is for students," said BBA chief executive Anthony Browne. "Customers of all ages like the fact that they can now make payments, check balances and do other banking tasks from the comfort of their home without trudging into town. It's precisely because these technologies are so popular with people of all ages that banks are investing so heavily in them."

Image via Shutterstock

Tags: banking, Internet, mobile

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