Older Adults and Internet Banking: the Impact of Evolving Web Design Trends and Practices on Older Adult Adoption and Use of Online Financial Services

The number of older adults online is growing. They also account for a significant proportion of global wealth and are an important market demographic for banks and financial services. Older adults are however, less likely to adopt and use internet banking and online services than younger users. Barriers to adoption include physical and cognitive impairments, as well as issues regarding trust, anxiety and technophobia. There is much existing research and guidelines providing recommendations in designing for the online needs, and overcoming the barriers, of the older adult. However, in recent times, there has been an evolution of web design trends and practices, the effect of which on the older adult is not yet fully understood. Understanding the impact of these design trends and practices can help us to facilitate the online needs of older adults and improve their uptake and use of internet banking and online financial services.