Bridging the digital divide:

Protecting Seniors from Financial Scams through Hands-On Training

Context

Financial fraud results in billions of losses and is on the rise, with older adults being particularly vulnerable. 

Retired boomers didn’t grow up in the “computer generation” and often lack the relevant digital skills necessary to protect themselves from financial scams. 

They have limited access to training that could enhance their digital literacy and empower them to feel confident in their digital skills.

This is where our company, Scam4Good, comes in. 

We created an interactive, in-person fraud simulation training experience, specifically designed for implementation by financial institutions, to help seniors recognize and avoid scams.

Problem

Elderly lack relevant digital skills necessary to protect themselves from financial scams. 

SOLUTION

An in-person guided fraud simulation training experience

IMPACT

2024 winner of most achievable project awarded by the Jam4Good Toronto judges

Project Goal

How can we help older people avoid future financial scams?

Company

Scam4Good

Project Team

Worked together with a Product Manager and Product Designer

Role

UX Researcher, Service Designer

Brief

Discover the UX problems and redesign how older people (65+/retired) access online training to develop digital literacy

Challenge Framing

PROJECT CHALLENGE 1:

Financial fraud results in more than 3 billion in losses and continues to rise, with older people being more vulnerable to this type of scam. So the challenge was understanding the UX problems for this population and designing a user-friendly solution to help prevent older people from future financial scam losses.

PROJECT CHALLENGE 2:

A tight turn around. We had < 48 hours to develop a prototype and present a business case to the Jam4Good Toronto judging panel as part of the Global Service Design Jam Hackathon in March 2024.

1. Research & Discovery Phase

Our Design Process:

We utilised the Double Diamond Framework (UK Design Council) approach to tackle our challenge.


Process: 

Semi-structured interviews: We conducted stakeholder interviews (roughly 15) with older people aged 65 and above.

   

In our UX research, we developed a user persona and mapped the anticipated journey to access fraud simulation training. Our interviews revealed that older individuals often have a false sense of confidence, believing they are immune to these types of scams.

2. Synthesis Phase

From our interview data we designed the key user flow and problems with accessing relevant training.

We learnt that older people felt that they were “not of the computer generation” and did not have confidence in their digital literacy skills. As retirees, they lacked access to relevant training which would meet them where they are. Interviewees described the “emotional toll” of needing to stay “vigilant” and “on guard” against these types of scams. This led to avoidance behaviour (i.e. not using their phone or checking email) and perpetuated a lack of trust and confidence using digital interfaces. We also learnt that the majority of interviewees primarily went in person to their bank for their banking needs. A key takeaway is that this group are loyal customers who view financial institutions as trustworthy.

This supported the development of a solution that would be provided in-person by a trusted institution.

3. Ideate & Prototype Phase

We had one cycle of low-fidelity prototyping. We designed an in person guided fraud simulation training experience to be rolled out in a B2B2C model. The ideal client for this service would be financial institutions who would offer this service to older customers seeking easy, accessible training.

Solution

In person guided fraud simulation training experience

CLASSES WOULD FOCUS ON:

  1. Education on how to use one’s bank card online

  2. Best practices when online shopping

  3. Steps to take if you’ve been defrauded

  4. Spotting fake emails

  5. Spotting online safety features

4. Outcomes

While we did not launch our product (yet), the impact our solution provides for elderly people goes beyond just recouped financial losses. We discovered there is an emotional toll on many elderly individuals who feel they must stay vigilant against scams and “on guard” which can lead them to avoid opening emails and using their phone, causing them to withdraw from their communities. Our in-person solution offered in a peer-group format provides the additional benefit of combating social isolation and loneliness which is common among this age group.

Current digital literacy training programs, mainly provided by non-profits, require older adults to have some basic digital skills and/or knowledge of these organizations to access them. Although some programs address cybersecurity and scams, many still pose entry barriers. Offering solutions directly through financial institutions could eliminate the need for intermediaries. Older adults, as loyal customers who often bank in person, trust their banks and would benefit from such direct support.

5. Metrics

Activities we can measure to determine success:

  • Numbers of attendees per class

  • Numbers of classes 

  • Numbers of repeat attendees

  • Numbers of businesses that have bought product/solution 


Impact & Results

Scam4Good was the 2024 winner of the most achievable project awarded by the Jam4Good Toronto judges which included a solution architect from NVIDIA and the Founder of Ideate Live.