OpenIDEO is an open innovation platform. Join our global community to solve big challenges for social good. Sign Up / Login or Learn more

Bringing Online Financial Tools to Older Adults

A post about how Capital One partners with OATS and Grovo to help increase online banking usage among older adults.

Photo of Nirja Shah
4 4

Written by

To help support increased online banking usage among older adults, Capital One Financial Corp. partnered with Older Adults Technology Services (OATS) -- a nonprofit that helps older adults develop technology skills -- and workplace learning innovator Grovo to launch ‘Ready, Set, Bank: Online Banking Made Easy’, a new educational program designed to help older adults access the benefits of online and mobile banking.

The Ready, Set, Bank program provides a series of videos and lesson plans that explain online and mobile banking basics such as how to navigate mobile banking apps; set up alerts about account activity to protect from identity fraud, and enroll in direct deposit for social security or retirement benefits.

Capital One aims at reaching out to millions of older Americans and assist them with their banking procedures by educating them with online banking. This program has no barriers based on where the seniors choose to bank or live. 

Based on the articles mentioned below, many senior citizens have described this program as a 'relief' and has helped them reduce their fear of online banking. 

The links to the articles are:

http://www.capitaloneinvestingforgood.com/financial-literacy/bringing-online-financial-tools-to-older-adults/

http://www.csrwire.com/press_releases/39181-To-Help-Increase-Adoption-of-Online-Banking-Among-Older-Adults-Capital-One-Grovo-and-OATS-Launch-Ready-Set-Bank-Online-Banking-Made-Easy-




What is a provocation or insight that might inspire others during this challenge?

Short videos or tutorials are helpful to explain basic digital financing skills. If elderly adults could learn how to perform basic procedures such as transferring funds to friends and family or making online deposits, it'll expose them to the online banking platform upto a considerable level.

Tell us about your work experience:

I recently interned at a Talent Acquisition Startup during the summer. I'm a full-time student pursuing Master's in Management of Technology.

Specifically, please check all that apply:

  • I'm not currently involved in a credit union, but am curious to learn more!

4 comments

Join the conversation:

Comment
Photo of Wingee Sin

Thanks for the great post Nirja! I am always impressed with the innovations and designs coming out of Capital One!

Photo of Nirja Shah

I'm glad to contribute! 

View all comments