HK banking industry introduces enhancements to elderly-friendly and barrier-free services

The local banking industry will implement guidelines to strengthen support for the elderly and customers with impairment, the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) announced Wednesday. 

The  Guideline on Elderly-friendly Banking Services aims to establish pragmatic elderly-friendly standards in support of the government’s efforts in promoting silver economy, as well as enhancing elderly customers’ financial literacy and digital adoption through strengthening financial education.

The second edition of the Practical Guideline on Barrier-free Banking Services introduces enhancements to barrier-free banking services, with a view to facilitating access to appropriate banking services for customers with different needs, including persons with physical, visual and hearing impairments, as well as the elderly.

“The two guidelines cover multiple measures that help further enhance customers’ banking experience,” said Arthur Yuen Kwok-hang, HKMA deputy chief executive. 

“The HKMA expects banks to continue upholding the principle of treating customers fairly amid the development of digital services, and to provide more convenient and inclusive banking services for the elderly and other customers with special needs,” Yuen mentioned. 

“The HKAB has worked closely with regulators and relevant stakeholders to proactively introduce related measures, with a view to offering more caring and convenient banking services. The HKAB will continue to enhance the relevant service guidelines to keep up with social and technological changes, further driving the development of financial inclusion,” said Sun Yu, chairman of the HKAB, and vice chairman and chief executive of BOC Hong Kong (2388).