We’ve all seen it: a toddler in a pushchair, barely able to string a sentence together, confidently swiping and tapping on a mobile phone. What once seemed extraordinary is now everyday life, as younger generations master technology almost as soon as they can walk.

But what about those at the other end of the age spectrum—older people, approaching or well into retirement? For them, technology often presents significant barriers, particularly as businesses, including banks, shift to digital-only platforms.

At Home Instead, we recently conducted research to explore how older people feel about technology and its impact on their lives, especially in areas like banking, which directly affects their independence and daily routines. The findings were clear and concerning: 88% of those aged 66 and over believe banks should be forced to retain more physical branches.

This isn’t just a preference; it’s a demand born from necessity. Many older people struggle with technology, and while they are often eager to learn, they still value the personal connection and reassurance of in-person banking. A further 75% of older people say banks must offer age-friendly tech options and actively help customers adapt to digital services.

These concerns resonate with me on a personal level. I’m a Liverpool supporter and try to attend games whenever I can. Like many clubs, Liverpool no longer uses paper tickets—match passes must be downloaded to a smartphone. And for the tech savvy it’s not particularly onerous but something my matchday companion said recently stayed with me: “If my Dad had to do this to get into a football game, he wouldn’t be able to go.” 

His father, now in his seventies, has been a devoted Liverpool fan for more than 50 years. The club does offer stadium access cards for older fans, but this example highlights a broader issue: many older people feel increasingly excluded by the rapid march of technology.

Our research confirms this sentiment. Some 78% of older people feel the increasing digitalisation of society marginalises them, while 70% say it exacerbates loneliness and isolation. This isn’t just about technology—it’s about trust, dignity, and maintaining independence.

And it’s not only the older generation that is affected. The digital divide places additional strain on family carers, who often have to step in to help loved ones with banking, IT tasks, and other digital admin. This can create unnecessary frustration and time pressures for families already balancing caregiving responsibilities.

So, how can we address this? The solution requires a combined approach. Firstly, banks and other financial institutions must retain physical branches and services to meet the needs of older customers. For many, in-person banking remains the only method they trust. Secondly, a push for digital education and age-friendly design is essential. Older people want to learn and adapt, but they need the right tools and support to do so.

Businesses should make it easier for older people to navigate digital change. Offering clear, step-by-step guidance and creating intuitive interfaces designed with older users in mind can make a world of difference. Encouraging lifelong learning and providing training programs can also help bridge the digital divide, ensuring older people remain connected and included.

The tech sector, too, has a critical role to play. Over three-quarters (76%) of older people say tech providers need to make products that are easier to use. This isn’t just a social responsibility—it’s a business opportunity. The “silver economy,” representing older consumers, is one of the fastest-growing markets globally. With birth rates declining and people living longer, this demographic is only set to expand.

Older people want to be involved and valued, but this can’t happen if technology leaves them behind. Addressing their needs isn’t just about doing good—it’s about doing smart business. Brands that innovate to cater to this demographic will not only make a positive impact but also unlock significant growth potential.

To go back to where I began: the tech sector doesn’t need to worry about the next generation embracing technology. But as our ageing society expands, failing to engage older people would be a missed opportunity—and for banks, retailers, and tech companies, it could even be commercial suicide. Let’s do better, for everyone.

Martin Jones is the CEO of Home Instead.