LONDON, Jan 26 (Reuters) - Some British banks are seeingstronger growth in mobile and internet banking from customers intheir 70s and 80s than younger generations, a study showed onMonday.
Nearly 2.3 million people aged over 70 are now usinginternet banking, or 30 percent of that age group, according toa study released by the British Bankers' Association. It saidmore than 450,000 customers over 60 are using banking apps onsmart phones, iPads and other tablets.
Mobile banking has boomed in Britain and other countries inthe past two years, prompting banks to ramp up services andchange their distribution strategy more quickly than they hadexpected.
The shift is expected to prompt hundreds of bank branchclosures and the research showing older customers are alsochanging their habits could accelerate that process.
The BBA study, based on data from the major banks, showed 20percent of the population aged over 80 had registered forinternet banking, and 36 percent of 70-79 year olds had. That islower than other age groups, but the study said those who usedmobile and internet banking typically use it as frequently oronly slightly less often than younger generations.
HSBC's internet banking customers in their 70s login more frequently than any other age group, while Barclays saw a 41 percent rise in customers aged over 80 who haddownloaded its app in 2014 compared to a year before. The studysaid HSBC's oldest customer to download its banking app was 108years old. (Reporting by Steve Slater; Editing by Ruth Pitchford)
Barclays (BARC)
Lloyds (LLOY)
HSBC Holdings (HSBA)