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first direct 's over 55s buck the Silver Surfer trend but are slow to catch on to the mobile banking revolution

19 May 2011

 

Online and telephone bank first direct says its over 55's are bucking the national trend, as National Silver Surfer week highlights that as many as 1 in 5 people aged 55-64 have never used the internet. The bank, known for having more tech savvy customers, says that half of its Silver Surfers use its internet banking service, only 10% less that those under 55.

However, the direct bank’s text message banking service which sends statement updates to customers’ phones to tell them their balance and last few transactions, tells a different story.  Just 1 in 5 of its over 55s have signed up to the service versus almost 43% amongst the remainder of its customers.

Natalie Cowen, Head of Brand commented:

“We were the first telephone bank when we launched just over 21 years ago, one of the first to introduce internet banking and the first to launch a truly transactional ‘Banking on the go’ iPhone App.

“Many of our customers have been with us since the beginning of our journey of innovation, so I’m not surprised that many of them, including our over 55s, choose to regularly do their banking online.”

 

>end<

 

Access this press release online - http://www.newsroom.firstdirect.com/press/release/first_directs_over_55s_buck_th

For further information contact Rebecca Hirst on 01132766899, rebecca.hirst@firstdirect.com or Amanda Brown on 01132766700, amanda.brown@firstdirect.com.  

Notes to Editor

National Silver Surfer Day 20 May 2011

Digital Unite

http://www.ukonlinecentres.com/

 

first direct channel usage

 

 

Customer group

April 2011

Total customer base

55+

281,771

65+

104,301

Under 55s

914,460

Total

1,196,231

Active internet banking users

(logged on within 90 days)

55+

140,650

65+

43,788

Under 55s

542,649

Total

683,299

Registered text message banking users

55+

57,244

65+

13,564

Under 55s

390,257

Total

447,501

 

 

-         Almost four in five people around the world believe that access to the internet is a fundamental right. Source: BBC World Service March 2010

 

-         Global research shows that access to information technology, and crucially the skills to use it, has a “statistically significant, positive impact on life satisfaction‟. Source: BCS The Chartered Institute for IT, 2010

-         Buying products and services online can save each household an average £560 each year. Source: PricewaterhouseCoopers/Race Online 2012

-         9.4 million adults have never used the internet with 3 in 5 citing lack of interest as the reason why. Source: OFCOM

-         *1 in 5 people aged 55-64 have never used the internet and this rises to 3 in 5 of those aged 65+. Source: ONS

-         **Many of those aged 55+ who are online only use the internet in a very limited way. Source: OFCOM

-         Often, the barriers for older people to start using computers and get online are confidence and fear.

-         “If we want to avoid this new gulf between information rich and information poor, between the connected and the unconnected, we have just simply got to get everybody connected to the internet and make sure they are sharing in this information rich age. I want to give this all the support I can… to make Britain the most connected, the most wired up, the most digitally-advanced country there can be.” David Cameron, 2010

 

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