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Interview with a couple over 50s

Interview with a couple over 50s about banking and their daily life related to bank

Photo of Shuang Liang
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Background:

Yesterday, I interviewed with a couple to find out their views on banking. The wife is 50 years old, retired at home and the husband is 51 years old, working in a company as a product manager. The topic is focusing on advantage and disadvantage of bank, online banking and some parts related to their life.

Could you come up with some part of banking you think is great or still need to be improved?

They think ATM is a good tool for them and is convenient for them in a bank. However, the service on ATM is just some basic part, like deposit money, make a transfer or bill pay, etc. If they need to do other things-like get the information of a financial product-then they still need to wait for a bank manager or bank teller, which they think can be done on ATM. And they think maybe the ATM could improved by provide more options about banking. The wife loves credit card most, because it is more convenient than using cash and she can get some rewards back.

As for the credit card, what is the most common part you spend money on?

In daily life, they are likely to spend money on food, shopping, fee payment and some financial products.

In which way does your age limited you in your opinion?

The husband mentions that he love to try new things, like younger people, so he do not think there is some limitation for him because of his age. The wife think it should be online banking, because she think it is a bit unsafe by using online banking and don't want to take a risk, so most of the time, she like to use cash or credit card or an official app instead of online banking.

How do you pay your bills?

The husband use online banking to pay bills, and the wife like to use ATM to do this.

Could you come up with a situation that you feel boring or interesting when you are in a bank?

They feel boring during waiting in a line. The husband think there is a lot of things actually can be done online or on ATM, but some older people don't trust it or don't like to try these, then they wait for bank teller. He mentions that maybe the banker should help them to use these things and do some education about these tools during they waiting. Also, the bank could come up with some ideas to make them feel fun while waiting, or the bank could do something to make the time seems not "such long". 

From financial aspect, whom are you worried about? Think of an example?

Their daughter, they said, even though their daughter already worked and made money by herself, they still ask her if she need some financial supports every time they make a phone call.


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

What could bank do to help costomers to feel more interesting when they waiting? Could bank make some changes on the options of ATM?

Tell us about your work experience:

I'm a grad student in Integrated Digital Media Student in NYU.

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Photo of Kate Rushton

Hi Shuang!

Thank you for your post! What solutions do you think could resolve the problem of lining up? Also, how could ATMs offer more services but still be a valuable tool for people who want short lines and to get money 'on-the-go'?

Have you seen this post - @https://challenges.openideo.com/challenge/financial-longevity/research/capital-one-cafe/ ?