Unraveling digital banking transformation, innovation for the older generation

Abstract

Objective: To determine the digital banking gap and whether it presents benefits and challenges for the generation of elderly customers. Methodology: For the construct, the precepts of the positivist paradigm were used, with a quantitative data collection approach and explanatory-descriptive research. Results: Older adults in this group of modest users, being today usufructuaries of technologies, may feel uncomfortable with the advanced digitalization of the media, but they are also prone to experience the marked exclusion in front of the conjunctural and modern digital era, not only because of the novelty for them, but also because of the subjugation of the rest of society in new ages and even with some peers of the same age who are direct digital competitors. Conclusions: the study reveals the moderating role of digital literacy in the decision making of the older population Researchers' contributions This study contributes to the academic discourse by providing a comprehensive view of financial technology adoption by older generation consumers, highlighting the importance of understanding this demographic's unique preferences and interactions with the digital economy. It also highlights the potential for targeted strategies to improve the adoption of financial technology services among older adults and foster a more inclusive digital financial landscape.