The third age observatory said on Monday it was satisfied with the banks’ response to providing better service for the elderly.
A recent meeting between the watchdog organisation and the banking association was “a springboard for substantial changes”, it said.
The banking association presented measures aimed at improving the daily life of the demographic in question through improvement of the banks’ user-friendliness.
Measures promoted in the first phase include expansion of the cashback service, increase in the amount that can be obtained through this, and increase of service points in cooperation with municipalities, communities, and post offices.
These first essential steps will benefit elderly users, whether they live in the cities or in rural areas, the NGO said.
Additionally, the observatory welcomed the banks’ efforts to simplify their procedures, such as by providing phone assistance for issuing required forms and mailing them out.
Informational sessions on alternative ways of transacting are also in the works, to familiarise the elderly with new technologies.
Measures such as these not only improve the quality of life of the elderly but also stop their economic exploitation, the observatory said.
The NGO said more such undertakings need to be promoted and expressed its readiness to cooperate towards their implementation.
