OCBC expanding programme to help 10,000 seniors learn digital banking skills by year end

SINGAPORE – Over the years, Madam Lim Swee Noy, 69, has been noticing more people scanning QR codes at shops and hawkers to make payments.

While it seemed like an easy process, the part-time customer service manager avoided using the digital payment method because she had tried it before and failed.

Said Madam Lim: “I would take so long until a queue formed behind me, so I would end up paying cash.”

There are many elderly people like her in Singapore, according to Ms Jean Oh, head of branch service and risk management at OCBC Bank.

To help equip up to 10,000 seniors with digital banking skills by the end of 2024, the bank is expanding its Digital Silvers Programme to more locations.

OCBC said it will be hosting at least five workshops, mini carnivals and outreach activities at community centres and Housing Board pavilions in the second half of 2024 to reach more seniors.

The programme aims to help seniors who are “digitally shy” – those who lack confidence using technology or may feel overwhelmed by new technology.

OCBC said participants in the programme can expect to learn how to make QR payments, perform cash withdrawals and make use of anti-scam security features.

Said Ms Oh: “We felt a sense of urgency to really help as many elderly as possible, as many of them are still unfamiliar or not confident about digital banking.”

More than 800 seniors attended OCBC’s carnival at Bishan Community Club on June 15.

After taking part in workshops at the carnival, Madam Lim said she is now able to confidently use QR codes for payment.

“The other thing I learnt is the OCBC Money Lock, which is very convenient, especially because scammers are so cunning nowadays,” she added.

In November 2023, OCBC, DBS Bank and UOB introduced a new feature called Money Lock, which allows users to essentially lock a portion of their funds, preventing any digital transactions and keeping the money safe from scams.

Police statistics show that the elderly were victims in 7.1 per cent of the 50,376 scam and cybercrime cases in 2023.

The bulk of those aged 65 and above fell prey to fake friend call scams, followed by investment and phishing scams.

OCBC’s Ms Oh said more than $6.8 billion from around 62,000 OCBC customers’ accounts has been locked as at May 2024.

Mr Kong Kam Kay, 64, attended the June 15 event to learn to adjust his payment transfer limits for his bank account.

The retired plumber said he was satisfied with what he was able to pick up over the many workshops, pointing out that more organisations should take the elderly into consideration when it comes to digital payments.

“When it comes to digital banking, we have no choice. We must learn or be left behind,” he added.

Mr Sunny Quek, head of global consumer financial services at OCBC, said more interactive events are being planned to attract seniors, even those that do not use OCBC.

He added: “We need to do this fast. As we firmly embrace the digital wave, the bank has made it its responsibility that no one gets left on shore.”

More than 3,600 seniors have already gone through the programme since its launch in September 2022.

The results have been positive among those who participated in the programme.

The bank said there was a drop of 76 per cent in customers who physically go to its branches for basic services. PayNow transactions among the participants also grew by 28 per cent.

Madam Lim Soon Tiang, 65, who attended the programme in 2023, returned on June 15 as a panellist.

The retired customer service manager said she was initially ashamed that she did not know how to use her phone for banking. That has since changed.

“I want to encourage everyone out there that you just need to cross the first hurdle. Once you do, it’s very easy. I know how to check my account balances, make deposits, do PayNow transfers, change limits if I have to,” said Madam Lim.