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Considerations regarding ageing impact on banking system – challenges, strategies
Claudia Gabriela BAICU, Luise Mladen, Diana Craciunas

Last modified: 2017-11-23

Abstract


The global tendency of ageing population has consequences on different areas, such as: economic growth, financial markets, financial intermediaries, monetary policy, public finance, financial regulation. This tendency has several consequences on banking system that has to adapt to the needs and special requirements for bank products and services of older customers. The specialty literature mentions among the challenges the banking systems may face in the context of ageing population: reconsidering portfolio of banking products and services, adapting to the special needs of older customers, pressure on banking profitability. In the context of an ageing population, the studies in field consider that credit activity of banks is likely to decrease and provision of some services targeting older customers to increase. At the same time, technological advances raise several issues to older customers.

 


Keywords


banking system, ageing, banking business model

References


[1] Berlemann, Michael, Marco Oestmann, Marcel Thum (2010) Demographic Change and Bank Profitability. Empirical Evidence from German Savings Banks, CESifo Working Paper No. 2911, January 10.

[2] ECB (European Central Bank) (2006) EU banking structures, Frankfurt/Main, October, p. 21–37.

[3] FCA (Financial Conduct Authority) (2017) Ageing Population and Financial Services, Occasional Paper 31, September.

[4] Gunther, Jilenne (2016) Preventing Exploitation: Five Banks Leading the Fight, AARP PUBLIC POLICY INSTITUTE, April.

[5] Imam, Patrick (2013) Demographic Shift and the Financial Sector Stability: The Case of Japan, Journal of Population Ageing volume 6.

[6] IMF (International Monetary Fund) (2017) Japan financial system stability assessment, IMF Country Report No. 17/244, July.

[7] IMF (International Monetary Fund) (2017a) Global Financial Stability Report: Getting the Policy Mix Right, April.

[8] Papademos, Lucas (2007) Population aging, financial markets and monetary policy, Speech by, Vice-President of the European Central Bank at the conference Exploring the Future of Pension Finance and the Dynamics of Institutional Pension Reform, Amsterdam, 23 March 2007. Available at https://www.ecb.europa.eu/press/key/date/2007/html/sp070323_2.en.html.

[9] Schmitz, Stefan (2007) Demographic Change, Bank Strategy and Financial Stability in Oesterreichische Nationalbank, Financial Stability Report 13, June.

[10] Siddiqi, Sehar, Robert Zdenek and Edward Gorman (2013) A New Dawn: Age-Friendly Banking, National Community Reinvestment Coalition.

[11] Steele, David (2016) British Banks at their Best: Addressing Consumer Needs, Research Report, AARP INTERNATIONAL, Washington DC, February.

[12] World Economic Forum (2016) Technological Innovations for Health and Wealth for an Ageing Global Population, Geneva.

[1] Berlemann, Michael, Marco Oestmann, Marcel Thum (2010) Demographic Change and Bank Profitability. Empirical Evidence from German Savings Banks, CESifo Working Paper No. 2911, January 10.

[2] ECB (European Central Bank) (2006) EU banking structures, Frankfurt/Main, October, p. 21–37.

[3] FCA (Financial Conduct Authority) (2017) Ageing Population and Financial Services, Occasional Paper 31, September.

[4] Gunther, Jilenne (2016) Preventing Exploitation: Five Banks Leading the Fight, AARP PUBLIC POLICY INSTITUTE, April.

[5] Imam, Patrick (2013) Demographic Shift and the Financial Sector Stability: The Case of Japan, Journal of Population Ageing volume 6.

[6] IMF (International Monetary Fund) (2017) Japan financial system stability assessment, IMF Country Report No. 17/244, July.

[7] IMF (International Monetary Fund) (2017a) Global Financial Stability Report: Getting the Policy Mix Right, April.

[8] Papademos, Lucas (2007) Population aging, financial markets and monetary policy, Speech by, Vice-President of the European Central Bank at the conference Exploring the Future of Pension Finance and the Dynamics of Institutional Pension Reform, Amsterdam, 23 March 2007. Available at https://www.ecb.europa.eu/press/key/date/2007/html/sp070323_2.en.html.

[9] Schmitz, Stefan (2007) Demographic Change, Bank Strategy and Financial Stability in Oesterreichische Nationalbank, Financial Stability Report 13, June.

[10] Siddiqi, Sehar, Robert Zdenek and Edward Gorman (2013) A New Dawn: Age-Friendly Banking, National Community Reinvestment Coalition.

[11] Steele, David (2016) British Banks at their Best: Addressing Consumer Needs, Research Report, AARP INTERNATIONAL, Washington DC, February.

[12] World Economic Forum (2016) Technological Innovations for Health and Wealth for an Ageing Global Population, Geneva.


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