E.J. Kritz is the Executive Experience Officer at DBSI. DBSI changes the way people experience spaces with a combination of design, build, technology, and people solutions. E.J. has worked in leadership roles for two of the nation’s largest banks and has consulted to hundreds of banks and credit unions in addition to speaking at events nationwide.
“What time is The Price is Right on?”
Grandma's still writing checks while you’re zipping through Venmo like a pro. But let’s hit the brakes on this tired story faster than Gramps can stop his Cadillac. The idea that seniors are out of touch with technology is as outdated as a rotary phone (although, those things were awesome) and it’s time we debunk this myth.
I’m going to start this rant with a shout-out to my late Grandpa Frank. Pushing 70, this dude decided to bike from LA to Boston. Note I said bike, not motorbike. And before you assume this was how he spent time for the better part of the year, think again. 47 days. That’s it. I couldn’t do it… you probably couldn’t do it. This is the same guy who was still e-mailing me jokes until his final days. Nobody, and I mean nobody, was ever going to tell Grandpa Frank he was old.
He’s not alone and his story isn’t unique. Don’t even get me started on my favorite news story category of all time: “Old People Who Graduate College.” Many of those graduates are from online Universities.
COVID might have forced their hands but lets face it: Old people are down with mobile ordering from Starbucks and they’re swiping left (or is it right?) like it’s going out of style. They can handle your cute banking app.
Let’s take a good look at the numbers. According to recent studies, a staggering percentage of seniors are using smartphones. In fact, it turns out that more than 60% of those aged 65 and older have jumped on the smartphone bandwagon. And what do smartphones come preloaded with? You guessed it—apps! It’s like saying your great-aunt’s quilt isn’t warm just because it’s not the latest fashion. Spoiler alert: it still gets the job done, just like those apps do for the savvy seniors out there.
Now, let’s talk about digital banking specifically. You think Grandma is still running to the bank to deposit her checks? I mean… maybe if she really wants that lollipop or she’s planning on swiping a few pens. The advent of mobile banking apps has empowered seniors to manage their finances from the comfort of their armchairs. Why bother putting on pants to face the judgmental teller when you can just snap a picture of your check and deposit it with a few taps? Convenience is the name of the game, and seniors are winning it, one deposit at a time.
And let’s not forget about the “tech support” many seniors have at their disposal—aka their grandkids. These digital natives are the ultimate bridge between generations. If Grandma can’t figure out how to set up her banking app, she just has to dial up the nearest 20-something, who will swoop in like a superhero, armed with knowledge and an endless supply of patience. That Gen-Z here isn’t stupid… they know they’re getting a meal out of it.
But real talk for a minute… this is where the Bank or Credit Union Branch needs to remain alive and well. The reality is that not every senior knows or trusts somebody young. Seniors view the Branch as a reliable and trustworthy source of advice and the “Branch of the Future” (cue the most overused phrase in banking) needs to be a hub of digital service, troubleshooting, and onboarding. Worded another way: Branch Employees need to be digital ninjas versus glorified cashiers.
Now, if you still think this stereotype holds water, let’s discuss online shopping. Ever seen a senior in action during a Prime Day sale? It’s like watching a hawk swoop down on its prey. They know how to hunt down deals like nobody’s business. When it comes to navigating websites, clicking through endless deals, and using promo codes, those so-called "technologically challenged" seniors are out there hustling like it’s their second job.
Finally, let’s not ignore the simple fact that older adults are not a monolith. Just because your Uncle Bob struggles with his tablet doesn’t mean that every senior is living in the dark ages. There are tech-savvy retirees out there taking online courses, joining virtual book clubs, and yes, using digital banking apps with ease. They’re redefining what it means to age in the digital age. Many of them still worked during the digital age.
The Greatest Generation is a group of rockstars who refuse to be told they can’t do something… online and mobile banking included.
So, next time you find yourself chuckling at the thought of an elderly person navigating a banking app, remember: the joke might just be on you. The digital divide is shrinking faster than you can say “zelle,” and if you think the seniors in your life aren’t in on the secret, you might want to check your own tech skills before rolling your eyes. Who knows? Grandma might just teach you a thing or two about managing your finances—if you’re lucky!