The FCA published an excellent overview of how the financial services sector needs to explore and consider the evolving needs of an ageing population. The research notes that ‘there are risks that older consumers’ financial services needs are not being fully met, resulting in exclusion, poor customer outcomes and potential harm’.
The profile of the needs and demands of this customer segment are, of course, varied, but the central point that products and services must be designed and informed through a better understanding of the end customer is at the heart of what FinTECH4Life is all about.
From those who are working longer to the older old, it is a very good overview of how the power of technology and fintech ingenuity can be harnessed for better outcomes.