A concern raised by the older people interviewed during the New Approaches to Banking for the Older Old project was that reduced mobility would lead to difficulty with accessing their money. This led in some cases to people divulging security details to carers, friends and relatives.
We came up with the concept of the Guardian Angel service, which would address this concern. It would allow an account holder to give a delegate restricted access to their money in order to carry out specific tasks. An application for mobile technology such as an iPad would allow the account holder to customise the boundaries of the nature of this access. For example, they would be able to allow access at particular ATMS or shops within a certain distance of their home, set a limit on the amount of money that could be transferred or withdrawn, or set a time limit during which the task had to be carried out. The delegate would have their own card linked to the Guardian Angel service, negating any need for the account holder to give away their PIN. Furthermore, the service would notify the account holder once the task had been carried out.
Part of the New Approaches to Banking for the Older Old project.