Organization Name: Capital One
Project Title: Ready, Set, Bank(SM)
Project Location: National
As the banking industry embraces technology, customers benefit by gaining access to new tools that make banking easier and more convenient. But customers who aren’t comfortable with technology may not take advantage of the benefits of online banking. In particular, many older adults lack confidence in the technology of online banking, and use it at much lower rates than other adults. To address this digital divide, Capital One created Ready, Set, Bank(SM), a free educational tool designed to help older adults leverage online banking to enhance their financial well-being. Ready, Set, Bank is a web-based program of 44 instructional micro-learning videos that guide seniors to safely accessing online banking features such as remote deposit capture and online bill pay. Each video is 1 to 3 minutes long and can be viewed on any device with an internet connection. The videos teach the general principles of online banking so they are useful for anyone, no matter where they bank.
Ready, Set, Bank(SM) is a free, accessible tool with the express purpose of teaching senior citizens about the benefits and mechanics of banking online. Research shows that senior citizens have concerns about safety and security and lack comfort with online banking, and no program existed to help get them past these barriers. Every aspect of the program was designed with older adults in mind. A series of short, online videos are arranged into five modules, to make the program flexible for users. The videos can be watched alone or together to give a more comprehensive understanding of a topic, whether it’s security or online bill pay. Each video is between 1 and 3 minutes long so they are easy to digest and not overwhelming. The flexibility of the program allows groups dedicated to educating senior citizens about online banking to use the program. It is available in all Capital One branches, online and through 22 of our non-profit partners.
Capital One amplified the program’s impact by partnering with 22 of our nonprofit partners to offer the workshop to senior citizens. The program includes an instructor guide for community partners, supplemented by financial support and training so the nonprofits can launch the course within their community. The instructor guide includes course materials, group activities, best practices and information on technical support. Non-profits also receive assistance as they start to use the microlearning videos and share the technology within their communities.
In a recent survey of the individuals who have taken the full course with our non-profit partners:
• 80% felt more comfortable using online banking as a result of taking the class
• 80% felt more confident about online banking as a result of taking the class
• 80% felt more safe online as a result of taking the class
• 90% said they are likely to recommend Ready, Set, Bank to a friend or family member
Capital One is a diversified bank that offers a broad array of financial products and services to consumers, small businesses and commercial clients. A Fortune 500 company, Capital One has one of the most widely recognized brands in America. Capital One invests in our local communities, working with partners to support affordable housing, economic development, financial education and education programs.