Learn about the measures to improve personalized service for seniors

In February 2022, the banking associations (AEB, CECA, and Unacc) signed the update of the Strategic Protocol to strengthen the social and sustainable commitment of the banking sector (hereinafter, the Protocol), adopted by AEB and CECA in 2021, and Unacc has adhered to its Chapter 5, dedicated to Financial Inclusion.

The purpose of this update was to expand the initiatives launched by entities with the dual objective of contributing to increasing their clients’ digital skills through training and offering alternatives to those who, for various reasons, are unable to access the digital society, require a longer adaptation period, or simply desire more personalized attention.

In this context, new measures were adopted, in addition to those already applied by the entities themselves, aimed at improving personalized service for seniors or people with disabilities in various aspects such as in-person service in branches, telephone assistance, adaptation of ATMs, IT applications and websites, and the reinforcement of financial, digital, and fraud prevention education for this group of clients.

The commitment to prepare a semi-annual follow-up report on the measures adopted was also included, which we fulfill by publishing this report.

Although this report compiles and encompasses figures from the entire Spanish financial sector, the success and responsibility of the entities towards this group of clients have been evident in each of the individually implemented measures.

Six months after the signing of the Protocol update, the three banking associations, after gathering information from their respective members, are publishing this first follow-up report, with data as of June 30, 2022:

• 81% of bank branches provide cash services from 9:00 AM to 2:00 PM, a broader in-person service schedule than most entities offered prior to the incorporation of these measures. The number of branches operating with extended cash service hours is more than double that of December 2021 and has increased by 7,908 branches as a result of the new measures. It is important to note that some branches’ locations do not allow for extended hours (e.g., those located in special zones) or due to their business model (corporate branches), as well as the existence of single-person branches that have greater complexity in adapting.
• During the first six months of the year, more than six million clients over 65 years of age (approximately two-thirds of the total) used the cash service with in-person assistance from 9:00 AM to 2:00 PM.
• 1.6 million calls from clients over 65 years of age were handled preferentially, at no additional cost, and through a personal contact. This figure only reflects calls received through lines specifically enabled for this group, so those handled directly and personally by branches should be added. 93% of entities offer telephone service from 9:00 AM to 6:00 PM.
• 91% of the total ATM network of credit institutions (37,111 ATMs) are already adapted to the needs of this group.
• The average resolution time for ATM incidents (142,000 incidents) was 1 day, which is less than the 2 working days commitment established in the Protocol.
• Regarding the adaptation of digital channels, with simplified language and view, more than 75% of the sector has so far included these improvements on their websites and their
• More than 200,000 clients over 65 years of age (236,785 clients) have received financial, digital, and/or fraud prevention training.
• In the first six months of the year, almost 41,000 employees in the sector received specific training to offer more tailored service to this group, totaling over 278,000 hours. Additionally, and although not all entities have this modality, following the signing of the Protocol, the role of senior advisor has been expanded. As of the close of this report, 3,900 employees have been trained in this specialization to better address the demands and needs of seniors.

This report reflects the commitment of Spanish entities to clients over 65 years of age or with disabilities. Thus, we can conclude that 100% of entities have made progress in adopting measures to improve personalized service for these groups, taking into account their business model and, above all, the needs of their clients.

Following the agreement, all Spanish banking entities now have extended cash service hours, which apply to over 80% of their branches.

Financial education programs aimed at the aforementioned groups have been strengthened to promote financial literacy and facilitate their adaptation to new channels. These initiatives by Spanish banking entities are part of the Financial Education Plan promoted by the Bank of Spain, CNMV, and the Ministry of Economic Affairs and Digital Transformation.

In the first four months of implementation after the signing of the Protocol (March-June), entities have made an exceptional effort, in terms of time and form, to comply with the agreements reached. The Spanish banking sector will continue to work to facilitate the adaptation of the elderly population to a new context characterized by digitalization.

The banking associations will continue to monitor the Protocol through a new update of this report, which is expected to be published in the first quarter of 2023.