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“Silver Selfies” - More Than Half Of Over 55s Don't Use Mobile Banking Despite Using A Smartphone

18th July 2019


  • ‘Fear of fraud’ cited as the top reason for older generations not wanting to open a bank account using an app
  • New research comes as TSB launches new facial verification functionality in mobile banking app  

New research from TSB reveals that more than half (57%) of over 55s say they never use mobile banking, despite being smartphone users. This is in contrast to 82% of 18-34-year olds who say they use mobile banking.

The findings come as TSB is rolling out new functionality, which allows customers to open a current account using a selfie, without the need to visit a branch. The move is designed to speed up even further the time needed to open a new account remotely – while providing the latest cutting-edge technology to combat fraud.

The research found that 73% of people over 55 say they would benefit from being able to do their banking remotely, citing ‘speed’ and ‘convenience’ and ‘24/7 access’ as top reasons. However, the findings reveal that only a quarter (26%) of over 50s would open a bank account using their smartphone compared with 72% of 18-34-year olds.

The main reason for not opening a bank account using their mobile was fear of fraud (58%).

But TSB’s research identified a cohort of over 55s dubbed ‘Silver Selfies’ who use their smartphones daily (91% of over 55s who use smart phones). The top reasons for using smart phones include taking photos, such as selfies and pictures of loved ones (32%), keeping in touch with friends and family (61%) and emails (41%). But only one in 10 (11%) use their phones for financial activity. Of those who do use their phones for financial activity, 36% use it to look at their balance and 23% to transfer money.

This new feature is the next step to improving TSB’s digital journey and serving more customers than ever before. Helping customers improve their user experience within mobile is important, particularly at a time when more people’s banking habits are changing, and they are using their phone more for day to day tasks.

Customers are becoming increasingly conscious of sharing personal details and are wary of using IT in situations where they feel they could be opening themselves up to potential scams or putting themselves at risk of fraud. However, TSB recently launched its very own Fraud Refund Guarantee, to ensure the Bank’s 5.2 million customers are protected if they become an innocent victim of fraud on their TSB account.

Pol Navarro, TSB’s Digital Director, commented: “Opening a new account can sometimes feel like an arduous task, but adding this new feature means we take the hassle out of completing the process.

“We know that life can take over and that quick lunch time visit to a branch might not happen. With this new experience, we are making banking better and enabling customers to fully complete their application in a way that fully suits their busy lifestyles: just with a simple selfie.”

Robert Prigge, President of Jumio, said: "Despite all the talk about digital transformation, few banks are putting the customer front and centre. We're thrilled to be partnering with TSB Bank to streamline the identity verification process and ensure that their new app delivers the convenience, speed, and security that their customers expect. We look forward to working with TSB to deliver the best-possible experience to their banking customers while simultaneously fighting financial crime and online fraud."


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Notes to editors


  • The research has been conducted by Opinium Research in July 2019 surveying 2,000 UK Adults smartphone owners.
  • More information on TSB’s Fraud Refund Guarantee can be found here:
  • The Fraud Refund Guarantee will sit alongside TSB’s commitment to prevent fraud through targeted education programmes open to both TSB and non-TSB customers to raise awareness of how fraudsters operate including the latest tricks and how to spot scams and, more importantly, how to avoid them.
  • More information on Jumio can be found here: