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Seniors taking to online banking; challenge is to keep them hooked post-pandemic

OCBC recorded 20% year-on-year growth of digital users aged 60 to 80, compared to 7% increase for other age segments, for month of March

Kelly Ng

Published Thu, Apr 23, 2020 · 09:50 PM

Singapore banks

Singapore

MORE seniors have turned to online banking amid tighter curbs to stamp out Covid-19 in Singapore, but the challenge is in maintaining this shift for the long run, said head of digital and innovation at OCBC Pranav Seth.

He said financial institutions must go all out to make this a sustainable change, even as his bank saw individuals in their later years become the fastest-growing digital adopters over the month of March.