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
In-House Payment Options for Merchants: Time for a New Look
The big household names in retail, in-store and online, have always offered customers the most choices of ways to pay, along with deferred terms like layaway or installment credit....
AI in the Payments Ecosystem
Merchants and payment service providers are working diligently to turn the promises of artificial intelligence into tangible business advantages. AI promises to deliver new levels ...
Agentic Commerce and Merchants: Get Ready for a New Reality—and Some Turbulence
AI-powered agentic commerce could represent a fundamental recasting of the purchasing dynamic, which has always put ultimate decision-making in the hands of consumers. Transforming...
Make informed decisions in a digital financial world