Global Outlook on the Fintech for Seniors Market: Smartphone Penetration Continues to Grow Among Seniors

DUBLIN, July 3, 2018 /PRNewswire/ --

The "Fintech for Seniors: It's Just the Beginning" report has been added to ResearchAndMarkets.com's offering.

This report 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.

Companies Mentioned

• Abaris
• Amazon
• Bank
• EverSafe
• Golden
• Guide Change
• Ready
• Set
• SilverBills
• Silverwealth
• TrueLink Financial
• U.S. Trust (Bank of America)
• Wells Fargo

Key Topics Covered

1. Executive Summary

2. Introduction

• Growing Use of Technology, with Limits
• Innovation in Other Sectors

3. Product Design Imperatives for the Senior Market

4. Essential Product and Service Design for Older Adults: Three Themes

• Theme 1: Provide the Basics: Accessibility and Usability
• Theme 2: Incorporate the Core Values of Older Adults
• Theme 3: Focus on Outcomes and What's in It for the Older User

5. Innovation in Healthcare and Aging in Place

• Rising Healthcare Costs and Health Policies Are Driving Care into the Hom

6. Fintech Innovation in the Broad Senior Market Is Starting to Ramp Up

• EverSafe
• Golden
• Ready, Set, Bank
• TrueLink Financial

7. Solutions Targeting Affluent and High-Net-Worth Seniors

• Wells Fargo Private Bank
• US Trust ElderCare Planning

8. Ecosystems and Sustainable Innovation in the Older Adult Market

• Amazon Alexa

9. Strategic Implications for FIs and Fintech Providers

• The Financial Institution as a Financial Partner
• Natural Language Interfaces as an Emerging Ecosystem

List of Figures and Tables
Figure 1: The Older Adult Population in the United States Has Increased Rapidly
Figure 2: Smartphone Penetration Continues to Grow Among Seniors
Figure 3: Uptake of Mobile Banking Lags Among Seniors
Figure 4: Disposable Income: Seniors vs Other Generations in the United States
Figure 5: Technology for the Continuum of Needed Care for Older Adults
Figure 6: High-Net-Worth Senior Households Are Secure in Their Financial Outlook
Figure 7: Protecting Their Wealth Is Older Adults' Greatest Financial Concern, More Than the Cost of Healthcare
Figure 8: Even Among HNW Seniors, Many Do Not Feel Financially Well Organized
Figure 9: US Adults Are Starting to Embrace Voice Agents, but Seniors Lag the Market
Table 1: Examples of the Latest Innovations in Healthcare and Aging-in-Place Services by Category
Table 2: More Examples of Fintech for Seniors

For more information about this report visit https://www.researchandmarkets.com/research/7gkvts/global_outlook_on?w=5

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

View original content:http://www.prnewswire.com/news-releases/global-outlook-on-the-fintech-for-seniors-market-smartphone-penetration-continues-to-grow-among-seniors-300675888.html

SOURCE Research and Markets