Financial inclusion, an intergenerational commitment

Digitalization generates opportunities for progress, inclusion, and accessibility, but it also comes with a cost in terms of the digital divide, especially among older people who lack the necessary digital skills or do not have adequate technological resources. In a context of increasing longevity—in Spain, we exceed the European average, with a life expectancy of 83.1 years—and omnipresent digitalization, the risk of excluding older individuals from accessing essential services has become a profound challenge. They represent 20% of our population, and we owe them a significant part of the advances made in recent years.

In light of this challenge, the financial and digital inclusion of this group has become a priority for the banking sector. This commitment was formalized with the signing of the strategic protocol to strengthen the social and sustainable commitment of banking in 2021, the creation of the financial inclusion observatory in 2002, and especially with the implementation of the ten-point plan for personalized attention to older individuals, measures aimed at improving in-person service for senior clients and facilitating their interaction with digital channels.

The efforts of the financial sector are being rewarded, and monitoring reports reflect significant progress. For example, 81% of offices now operate with extended hours, benefiting more than 6.3 million clients. Additionally, 91% of ATMs have been adapted to meet the usability requirements of older clients, and nearly 70,000 professionals have been trained to address their needs. We must not forget the efforts of institutions to contribute to the digital training of older individuals: in the past year, 245,000 people over 65 attended courses in financial education, digital literacy, and cybersecurity. These measures coexist with a firm commitment to continuous dialogue with associations and representatives of the group to understand their concerns and respond effectively to their demands.

The response of older individuals to these measures has been positive. According to a recent survey conducted by the consulting firm Inmark, senior clients express satisfaction with public service channels, highlighting the role of the personal manager, followed by digital channels and the in-person office. Celebrating the European Day of Solidarity and Intergenerational Cooperation demonstrates that progressing as digitalized societies requires aligning technological advancements with the needs of different generations. Although banking has been the first sector to take a step forward in this direction, it is a national challenge that must be addressed with ambition in public policies, collaboration from the private sector, and the complicity of civil society. Only in this way can we build the foundations of an inclusive and intergenerational digitalization solidly.