HSBC will be the first bank in Hong Kong deploying staff with knowledge in dementia to help their customers suffering from the disease to manage their finances. This move comes after a survey found that a lot of people are struggling with financial matters, like remembering their passwords and processing their account information.
On Thursday, HSBC announced it would provide both practical and financial support for the growing number of patients amid Hong Kong's rapidly aging population, the South China Morning Post reported. About 45 dementia ambassadors will assist those who are in need, said Greg Hingston, the head of retail banking and wealth management. More modern ATM services and voice identification systems will also be rolled out to help sufferers.
The survey involved 215 family members or carers of people with dementia, wherein it has found that more than 80 percent of sufferers need banking assistance from carers or family members. Almost half said they had to open a joint account with the sufferer, and many feared the patient might be scammed easily.
The executive director of the Alzheimer's Disease Association, Maggie Lee Nga-yee, applauded HSBC's move and noted it would raise awareness regarding dementia. She said the majority of elderly people suffering from the ailment are withdrawing repeatedly, forgetting they have already done it. She added other sufferers had difficulty in understanding bank statements and passbook information, had troubles communicating with the staff, and couldn't remember their PIN or signature.
The data from the Census and Statistics Department revealed that Hong Kong elderlies account for over 36 percent of the population by 2066, while the number of those aged 80 or above is projected to reach its pinnacle by 2050 - a third will likely suffer from dementia.
HSBC vowed they will be increasing the number of dementia ambassadors by the first quarter of next year to provide assistance and support across a wide range of branches. Meanwhile, Bank of China also said it would provide help for people with special needs, such as easier ATM services for the elderly if they can't remember their password and voice navigation ATMs to assist visually impaired people.
The bank said it also has customer service ambassadors to help those in needs and offers a finger vein authentication - using veins in the finger to identify the customer. This kind of authentication is not similar to voice or fingerprint recognition as a finger vein authentication can't be replicated.
