Ready, Set, Bank Promoting Financial Well Being with Digital Banking - PowerPoint PPT Presentation

Ready, Set, Bank™ Promoting Financial Well Being with Digital Banking 1

Ready, Set, Bank™ is a turnkey financial well being program available to libraries to offer to your patrons ➔ Mobile banking is increasingly used by consumers of all groups except seniors who lag behind. (less than 20%) But Pew research indicates seniors have an appetite for digital adoption if they can get some help. ➔ Capital One collaborated with Older Adults Tech Services (OATS) - national thought leader on the ways tech can be used to improve lives of seniors. 2

Our research and customer discovery identified themes and approaches that resonate with seniors and other audiences Discover senior attitudes Relevance drives adoption Digital banking benefits seniors • Consulted: • Seniors use online platforms if • Convenience resonates with seniors relevant – Senior advocacy and service • Digital banking offers enhanced organizations • Seniors transact online but some are control reluctant to bank online due to safety • Surveyed seniors • Real time information offers concerns consumer protection • Seniors are open toonline banking if they get help starting Research lead to development of turn key financial well being program 3

Ready, Set, Bank™ “you tube” like, non -branded micro videos used to teach consumers ways to manage their money by banking digitally Micro-learning videos teach specific concepts or skills with videos • Videos available on website readysetbank.org Educational Tool • Viewers can watch entire series or select individual videos to learn new skills • Turnkey curriculum for group instruction combines, videos, discussion questions and instructors tips and resource guide Through pilots with libraries and other non-profits - we have refined the content for seniors and Pilot informed expanded it for use with other target audiences improved content • Well suited for seniors or others that are not comfortable with using apps or mobile technology • 4 part workshop using videos as basis for instruction • Introduction to benefits of online banking, • Security, avoiding scams and protecting yourself. Ready Set Bank: • Basic digital skills like how to download an app, setting up strong passwords and other introductory Digital Basics digital skills • Basic online banking skills like reviewing account balance and using phone to deposit checks, to enhance convenience and independence 4

RSB has been expanded to meet needs of consumers who routinely use technology but don't see the relevance of online banking to money management • The 4 part workshop focuses on the use of real time information to inform money management, budgeting and spending decisions and Ready Set Bank: Money • how using common banking functions such as alerts and bill pay can save consumers money Management by avoiding minimum balance fees, overdraft fees or using bill pay instead of money orders. • The 4 part Spanish workshop that is culturally and linguistically relevant to new immigrant communities • Focuses on the use of real time information to inform money management, budgeting and spending decisions Listos Clic Avance • Teaches common banking functions such as how using alerts and bill pay can save consumers money by avoiding minimum balance fees, overdraft fees or using bill pay instead of money orders. • Speaks to the needs of underbanked populations that also use high cost fringe financial services. 5

Building on the successful pilots with Houston and Queens Public Libraries we hope to promote replication www.readysetbank.org ➔ Refreshed turnkey curriculum Instructor’s guide, discussion questions, instructors tips ◆ and exercises Toolkit - handouts, flyers, sign-in sheets, surveys, ◆ certificates of completions www.readysetbank.org ◆ ➔ Access to training and support by completing registration form on the website 6