Overview
Mercator Advisory Group’s new research report Fintech for Seniors: It’s Just the Beginning addresses the market opportunity for financial technology innovation in products and services to serve the needs of the rapidly growing population of older adults or “seniors.”
There are now nearly 50 million residents over the age of 65 in the United States, a number the U.S. Census Bureau estimates will more than double by 2060. Increased longevity and continued growth in the senior population will require innovative solutions for the industries that target this segment. Thus far, much financial technology (fintech) innovation for this population segment has been concentrated in healthcare and home automation, while innovation in banking and payments has been targeted more toward the Millennial generation. There are some promising examples of fintech innovation for the senior market, particularly applications giving seniors more control over their finances and technology for financial protection.
This report has 24 pages and 11 exhibits.
Companies mentioned in this report include: Abaris, Amazon, EverSafe, Golden, Guide Change, Ready, Set, Bank, SilverBills, Silverwealth, TrueLink Financial, U.S. Trust (Bank of America), and Wells Fargo.
One of the exhibits included in this report:
Highlights of the report include:
- Growing use of technology, with limits, by seniors
- Innovation in healthcare and aging in place
- Product design imperatives for the senior market—three themes
- Fintech innovation in the broad senior market
- Solutions targeting affluent and high-net-worth seniors
- Ecosystems and sustainable innovation in the older adult market
- Strategic implications for financial institutions and fintech providers
Learn More About This Report & Javelin
Related content
Making the Most of Tap-to-Phone Technology
Digital wallets are made possible by a chip in smartphones that enables the phones to function like payment cards when they’re tapped on an accepting terminal device. Now those sam...
PCI 4.0: What Merchants Need to Know
PCI compliance has traditionally taken a vertical approach to data security, with subsequent iterations of requirements going deeper into protecting payment data. For the first tim...
Embedded Finance: What Do Merchants Want?
Software companies are fast becoming a source of financial services for small- and medium-sized businesses, and this brings up a host of questions for banks and software companies ...
Make informed decisions in a digital financial world