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

Ready, Set, Bank™

Promoting Financial Well Being with Digital Banking

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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.

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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:

– Senior advocacy and service

• rganizations
• Surveyed seniors
• Convenience resonates with seniors
• Digital banking offers enhanced

control

• Real time information offers

consumer protection

• Seniors use online platforms if

relevant

• Seniors transact online but some are

reluctant to bank online due to safety concerns

• Seniors are open toonline banking if

they get help starting

Research lead to development of turn key financial well being program

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Ready, Set, Bank™ “you tube” like, non-branded micro videos used to teach consumers ways to manage their money by banking digitally

Educational Tool Pilot informed improved content Ready Set Bank: Digital Basics

Micro-learning videos teach specific concepts or skills with videos

• Videos available on website readysetbank.org
• 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 expanded it for use with other target audiences

• 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.
• Basic digital skills like how to download an app, setting up strong passwords and other introductory

digital skills

• Basic online banking skills like reviewing account balance and using phone to deposit checks, to

enhance convenience and independence

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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

Ready Set Bank: Money Management Listos Clic Avance

• The 4 part workshop focuses on the use of real time information to inform money management,

budgeting and spending decisions and

• how using common banking functions such as alerts and bill pay can save consumers money

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

• 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

• rders.
• Speaks to the needs of underbanked populations that also use high cost fringe financial services.

➔ Refreshed turnkey curriculum

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Instructor’s guide, discussion questions, instructors tips and exercises

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Toolkit - handouts, flyers, sign-in sheets, surveys, certificates of completions

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www.readysetbank.org ➔ Access to training and support by completing

registration form on the website

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Building on the successful pilots with Houston and Queens Public Libraries we hope to promote replication

www.readysetbank.org