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Privacy Concerns Deter Nearly Half of Seniors from Managing Finances Online

LEHI, Utah--(BUSINESS WIRE)— iTOK, a U.S.-based technology advisory company that helps seniors get the most from their technology, today announced the findings of its Seniors and Online Finance Survey. The survey uncovered that many seniors are not taking advantage of online services to manage their finances because of privacy concerns.

Key findings include:


  • 49% of seniors do not use online banking.

  • Reasons seniors do not use online banking:

    • Privacy concerns (82%)

    • Too complicated (31%)

“Many seniors are on fixed incomes, so good budgeting and immediate access to their finances is extra important. But privacy concerns cause many seniors to fear and avoid online finance,” said Seth Bailey, CEO of iTOK. “This is why we recently introduced iTOK Total Protection, a service which includes anti-virus, identity monitoring and restoration to provide complete privacy protection. Plus, members get the 24/7 friendly telephone advice and education they need to feel confident about using financial services like online banking.”

The Seniors and Online Finance Survey was conducted between March 5 and March 13, 2015, on iTOK members. 56 percent of respondents were over the age of 75. More information about the survey can be found on iTOK's blog: https://www.bask.com/seniors-online-finance-april-infographic

About iTOK

As a premier technology support company in the U.S., iTOK is dedicated to educating and protecting its members. The company specializes its services to help seniors get the most from their computers and devices. iTOK's mission is to connect, improve and protect its members' digital lives with comprehensive technology advising and support. For more information about iTOK and its friendly, expert Technology Advisors, please visit the company's official website athttp://www.itok.net.

 

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Thursday, April 2, 2015

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