SINGAPORE: Retired engineer Choo Boon Hock, 72, has an Internet banking account, but the only time he used it left him utterly frustrated when he found himself “going in circles” with a chatbot.
“Sometimes can see that I don’t understand and they would ask ‘Aunty are you sure?’ and explain it to me again.In the lead-up to Chinese New Year, long queues had been spotted outside local banks and many in the line were senior citizens. This has made it stressful for the retired teacher every time she goes to the branch to do banking transactions.
Seniors who were raised in the age of passbooks and real bank tellers said that they feel increasingly inadequate to perform basic banking tasks online and have to constantly ask their loved ones for help. Still, the majority of seniors interviewed by TODAY said they hardly use their mobile and Internet banking without assistance.
OCBC’s head of global consumer financial services Sunny Quek said that with branch footfall falling 10 per cent year on year, it had closed an average of two branches per year in the last five years.
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