ADAPT members Dr Dympna O’Sullivan, Dr Damon Berry (both of TU Dublin) and Dr Emma Clarke (of DCU) recently developed an article for RTÉ’s ‘Brainstorm, focusing on the challenges and opportunities of online banking for older adults. The article delves into the barriers older adults face in adopting online financial services and offers research-based solutions aimed at enhancing their digital experience and fostering financial independence.
The full article, courtesy of RTÉ Brainstorm, is as follows:
How online banking creates obstacles for older adults & people with disabilities
Analysis: With an ageing population and over a billion people globally living with a disability, it’s vital to keep online banking hassle-free
Online banking has transformed how we manage our finances by providing round-the-clock access to services. It enables tech-savvy users to check balances, pay bills or even apply for loans with a few clicks, saving a time-consuming trip to the bank.
But despite such benefits, online banking presents significant accessibility challenges, particularly for older adults and persons with disabilities. Accessibility ensures that products and services are usable by all, regardless of their abilities or disabilities, but many online banking systems fall short in this regard. With over a billion people globally living with a disability and an ageing population in Ireland, it is important to understand these challenges to avoid deepening the digital divide and ensure that no one is excluded.
What are some of the common digital barriers?
Individuals with visual impairments often find online banking difficult to navigate, especially when websites aren’t compatible with screen readers or text-to-speech software. Inaccessible features such as small text and poor contrast can exacerbate these challenges. Many banks rely on phone-based customer support, leaving people with hearing impairments at a disadvantage. Without alternatives like text chat or sign language support, accessing help becomes problematic.
For individuals with limited mobility, such as those with arthritis or Parkinson’s disease, tasks that require precise movements or multiple steps can be frustrating. Small buttons, quick taps and tricky authentication processes further complicate interactions. Users with cognitive impairments, including conditions like dementia, can find navigating complex digital interfaces daunting.
Older adults often face compounded barriers, as they experience both age-related physical and cognitive decline and may lack digital literacy. Without adequate support and training to improve their confidence, they may become anxious about cybersecurity risks, leaving them hesitant to engage in online banking.
‘Digital first’, not ‘Digital only’
Age Action Ireland’s mantra, that a ‘Digital First’ approach should not mean a ‘Digital Only’ approach’, underscores the need for both digital and non-digital options. While online banking offers convenience, it should not exclude those who prefer face-to-face interactions or are wary of online fraud. Maintaining in-branch services alongside digital options ensures that everyone, regardless of age or ability, can safely access banking services.
Our research takes a participatory approach to understanding digital challenges faced by persons with disabilities and older adults. We ran a Citizen’s Think-In exploring the role technology can play as people grow older and where online banking was a major discussion topic. Participants acknowledged the benefits of 24/7 access but voiced concerns about the lack of personal interaction when problems arise.
There was consensus that banks should slow down the roll-out of digital-only services, as not everyone has the necessary digital skills or access. Concerns about scams and fraud were prevalent with many older adults feeling they have more to lose with their comparatively larger life savings at risk. One participant commented “young people developing these systems don’t look at the world through my eyes”.
A specific concern raised was the complexity of cybersecurity mechanisms like two-factor authentication (2FA). This is an electronic authentication method in which users are granted access to a website or application only after successfully presenting two or more pieces of evidence (or factors).
While important for securing online accounts, it does present interaction challenges. Users need to quickly enter verification codes or use multi-device authentication steps which can be difficult for those with visual or mobility impairments. For individuals with cognitive disabilities, remembering and managing these steps can be overwhelming, leading to errors or lockouts. These challenges can also reduce independence, as people may end up relying on others to complete banking tasks for them. This raises concerns about dignity and rights, as it undermines a person’s ability to manage finances independently.
How can banks address accessibility issues?
Banks have an important role to play in ensuring their services are accessible to everyone. Accessibility goes beyond legal requirements like the forthcoming EU Accessibility Act; it’s a matter of social responsibility and trust in public services. Online interfaces should embed inclusive design principles featuring simple navigation, large fonts, high contrast, audio and haptic feedback, alternative text and be compatible with assistive technologies like screen readers. Accessible customer service channels, such as video calls with sign language interpreters or text-based chat are also required.
Maintaining a physical banking presence throughout the country is important and branches should be equipped with accessible ATMs, wheelchair-friendly counters and assistive listening devices
Identifying ways to simplify 2FA for older adults and people with disabilities could make banking more inclusive. Potential solutions include voice-based authentication, biometric options like fingerprint scanning, or longer time windows to complete authentication tasks. Single-device authentication can further simplify the process, reducing the need to switch between devices.
Some of these methods may raise personal data concerns that people need to be made aware of, especially regarding the use of sensitive information like biometrics. In general, banks should provide resources to educate users on safe online banking practices, including protection against fraud and scams. Maintaining a physical banking presence throughout the country is important and branches should be equipped with accessible ATMs, wheelchair-friendly counters, and assistive listening devices.
With an inclusive approach that combines accessible design, education and maintaining non-digital options, banks can empower all individuals to manage their finances securely and independently in an evolving financial landscape.
Dr Dympna O’Sullivan is the Academic Lead of the Digital Futures Research Hub at TU Dublin. She is the Principal Investigator of the Research Ireland-funded Smart Self Care for Dementia and Co-Design for Dementia projects and the EU-funded Inclusion4EUproject. Dr Damon Berry is the Director of the towards People Oriented Technology (tPOT) Research Centre at TU Dublin and a funded investigator at the Research Ireland ADAPT Research Centre. Dr Emma Clarke is the Engaged Research Lead at the ADAPT Research Ireland Centre for AI-Driven Digital Content Technology at DCU.
