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Understanding my (50+) world

50+ are not digital natives, hence they have apprehensions, perceptions about using technology. We need to understand their drivers & blocks

Photo of Gaurav Lal

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FS domain uses lot of jargons which really puts off lot of people. Hence the need of advisors/ call centres to know very basic things. FS has to move away from offerings products, to designing solutions for the individual.

Provide a solution where all financial tools can be at one place. Then based on life stage provide guidance on fulfilling ones need/ wants


Financial Services as a domain has been disrupting the space. With digital/ technology advancements managing money (retail banking) has become a lot simpler. Many have stopped going to the branch any more.

50+ year old users (not all) are not naturally digital natives and hence they perceive today’s technology with lot of apprehension, like (some blocks)

  • It will be too fast for me to understand.
  • I will have to be quick – motor skills
  • I have to be intelligent to use it
  • What if I make a mistake?

This age group does lot of complex cognitive processing, like driving cars, playing golf, financial decisions. If we can address their blocks and assist them with their drivers, it will have a huge impact.

Adaption to facebook, skype and what’s app has been great. This group (not all) still wants to goto a branch to get their work done. Why?

  • Trust – I see a face
  • Prescriptive – someone is guiding through the process
  • Extra care

Let’s use the above to make online medium less complicated.

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

Understanding the ecosystem, their driver and blocks. be in their shoes

Tell us about your work experience:

I have 16+ years of experience and have been part of various digital transformation projects for various banks across the globe. an example -

Specifically, please check all that apply:

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


Join the conversation:

Photo of Kate Rushton

Hi Gaurav! The ideas phase of the financial longevity challenge is open for another two weeks. I hope to see your ideas there. This is the link to where you can post your ideas - Take care, Kate

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