Response to Professor Griggs' review on access to banking protocol
Published on 10 November 2016 11:30 AM
Responding to the publication of ‘Access to Banking Protocol - One Year On Review' by Professor Russel Griggs OBE, Caroline Abrahams, Charity Director at Age UK, said:
'Local bank branch closure programmes in recent years have proceeded remorselessly leaving many local communities and their older population high and dry. As such we welcome this review and support Professor Griggs' call for a more structured, informed and resourced transition process on the part of the banks, including developing novel face-to-face options for those people and processes that still require in-person services.
'Banking is an essential service for the vast majority of people and it's clear that banks need to give much more thought to what their older customers actually need. The over-65s are a highly diverse cohort, accounting for £145 billion in household spending in 2013 alone, but many remain digitally excluded and are unable to access online banking or embrace new technologies.
'Our research shows that by listening to older people and implementing new approaches intelligently the financial services sector can make real progress towards meeting the needs of an ageing society. There are already some creative and successful approaches in place that work well for older people and their banks and building societies. The sector must now move faster and work harder to respond to the needs of our ageing society which will ultimately benefit all consumers and make good business sense too.'
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