Beyond the 'Unofficial Proxy' - Navigating Technology Support for Older Adults' Banking Activities with Close Others

Research Background and Issues

• Identified Problems or Challenges
  With the widespread closure of bank branches in the UK and the rapid growth of the elderly population, most older adults exhibit reluctance to independently use digital banking platforms (DBPs). This has led many elderly individuals to rely on close others (COs) for completing banking tasks. However, most support mechanisms are implemented in "informal" ways, involving the sharing of online banking credentials, which poses privacy and security risks.

• Importance of the Issue
  If these issues are not addressed, older adults may face marginalization in the context of rapid digitalization and the retreat of physical bank branches. Additionally, increased privacy and security risks heighten the likelihood of financial fraud and abuse targeting the elderly.

• Research Motivation and Related Work
  This study aims to understand the interaction mechanisms between older adults and COs in banking tasks in the UK, while designing more flexible and secure DBPs. Literature suggests that older adults are particularly vulnerable to challenges such as lack of digital skills, privacy and security concerns, and age-related physical and mental impairments. However, fewer studies have focused on the specific design issues of DBPs.

Proposed Solutions

• Methods and Solutions
  This study employs two primary research methods:

  1. Questionnaire surveys: Building on and extending Canadian research (including participation from older adults and their COs).
  2. Co-design workshops: Collaborating with participants to design new banking solutions, exploring innovative ways to support safe interactions between COs and older adults.

• Innovative Contributions
  This research goes beyond discussions of "informal proxies" to explore how formal support mechanisms can be developed for older adults and COs, such as multi-user login, tiered authorization, and simplified educational tools to enhance independence and security.

• Implementation Steps and Key Techniques

  1. Questionnaire Design and Data Collection
     • Topics include daily independence of older adults, patterns of support in banking tasks, privacy and security concerns.
     • Data is collected through convenience sampling and targeted sampling.
  2. Co-design Workshops
     • Persona-based role simulation is used to stimulate discussion, conducted in two stages: assessing needs and limitations of existing methods, and proposing creative solutions.
  3. Data Analysis
     • A mixed-methods approach combining qualitative and quantitative analysis, with thematic analysis identifying barriers and proposed solutions.

Research Outcomes

• Specific Findings

  1. The study identified a phenomenon in the UK similar to Canada's "informal proxies," where COs assist older adults in completing banking tasks by sharing login credentials or performing operations on their behalf.
  2. The Power of Attorney (POA) mechanism is perceived as inflexible and complex to set up, leading many COs to opt for informal support methods instead.
  3. Workshops proposed several future design suggestions, including a dedicated proxy portal interface for COs, audio feedback to improve operational guidance, and step-by-step navigation features in banking apps for complex tasks.

• Advantages Over Existing Solutions
  The proposed design methods better integrate the emotional and technological needs of older adults while acknowledging the proxy role of COs, offering flexible and secure technical possibilities for banking services.

• Experimental or Evaluation Results
  Survey data revealed that over 70% of COs are familiar with the banking credentials of older adults, with much of the support provided remotely. Workshop results indicated that users expect banks to better support and educate both older adults and COs, particularly through tools addressing security concerns.

• Limitations and Future Directions

  1. Uneven sample distribution: The number of surveyed older adults with low independence was insufficient, potentially causing data bias.
  2. Most participants were recruited online, possibly overlooking elderly individuals who rarely or never use the internet.
  3. Future research is recommended to include more diverse samples from different cultural and economic backgrounds and to explore more targeted proxy mechanisms, such as services for dementia patients (e.g., Sibstar accounts).

Through this study, the authors propose specific technical and social recommendations to help banking systems better support the digital usage experience of older adults and their COs. The contribution of this research lies in balancing technological solutions with user needs, while calling for further exploration into the ongoing financial independence of older adults.