Economic activity is one of the areas where digitalization has had the greatest impact, with no sector remaining untouched by technological innovation. These advancements, when applied to daily life, are highly valued by citizens and streamline their routine operations. However, as digitalization progresses rapidly and often disruptively, companies, including banks, are implementing support measures for individuals who face greater difficulties adapting to it.
Banks are committed to implementing these measures and monitoring the progress achieved in three dimensions highly relevant to customers: the strengthening of the banking sector’s Social and Sustainable Commitment, an initiative launched in July 2021; measures to improve personalized service for the elderly and people with disabilities, introduced in February 2022; and, thirdly, financial inclusion in rural areas, a project presented in October 2022.
According to data from the Observatory for Financial Inclusion, the number of bank branches offering extended hours for over-the-counter cash services has significantly increased to 82%, more than double the number of branches before the adoption of these measures.
Furthermore, elderly individuals receive priority service at branches during peak times, and the role of senior advisors, specialized in the needs of older customers, has been consolidated. Nearly 4,000 bank branches now have this dedicated role.
Other channels are also being improved, such as personalized telephone support provided by a human agent rather than a robot. Websites, apps, and ATMs have been modified to enhance accessibility, with simplified menus and adapted language and font sizes for easier use. Work is also underway to strengthen specific training for employees and customers, increasing initiatives for financial education, digital literacy, and fraud prevention.
In rural areas, banks are also adopting measures to provide in-person access to cash, even in municipalities where it was previously unavailable. The objective of this commitment is to ensure in-person access to banking services in all Spanish municipalities, prioritizing those with over 500 inhabitants as of December 31, 2021, that lacked any physical access point.
In 93% of the 243 identified municipalities with over 500 inhabitants that lacked an access point as of December 31, 2021, a physical access point has either been established or is in the process of being established through alternative channels to traditional branches, such as ATMs, mobile offices, financial agents, and post offices.
The sector is fulfilling its commitments and advancing in improving both in-person and online service, which is reflected in user opinions. A recent Asufin study on “digitalization and financial exclusion” confirms, among other things, that “the bank remains the primary means of operation for 96.80% of citizens” and that “Spaniards predominantly continue to use online banking tools for inquiries (96.50%) or basic operations such as transfers (89.90%).”
Conversely, digital operations considered more complex by Asufin, such as managing savings and investments (34.20%), or contracting products or services (27.80%) and financing (25.00%), still show very low percentages.”
In the case of elderly individuals, the study also states that “ATM ease of use continues to improve, but more than a third still find them difficult; 20% of elderly people contact their branch by phone; 40% use apps, and 25% confirm they have received digital literacy training.”
In summary, banks are making a continuous effort to reconcile the undeniable digitalization of our economy with personalized attention for more vulnerable groups, such as the elderly, people with disabilities, or those living in rural areas, who, for various reasons, face greater difficulties in using new technologies.
The sector believes that collaboration with local councils and public administrations, coupled with an active listening process involving elderly people, people with disabilities, and their representative associations, is the best way to continue improving service. The banking sector is moving forward with these initiatives.
María Abascal, General Director of the AEB
