Digital Resource Finalist: Demo Bank
Year created: 2020
Resource owner: Association Langas i ateiti together with Association of Lithuanian Banks
PURPOSE AND INNOVATION
The declining number of bank branches and the rapid development of digital banking have reduced the availability of financial services for people who lack skills in digital technology, especially seniors. Fear of trying e-services impose additional costs and increase disjuncture. For lecturers, demonstration of practical tools is a necessity in training.
Therefore, a demonstration e-bank has been created, which provides an opportunity to test e-banking in practice without registering, without disclosing one's personal data and, most importantly, without risking real money. It's the only practical learning tool in Lithuania that allows to perform basic banking operations in real time and see changes in your bank accounts. Repetitions and tests are unlimited. Demo e-bank isn't constrained by registrations and doesn't require specific software. It's possible to study in a comfortable environment at any time. The aim is to gain self-confidence and help get used to the digital environment
"It's a shame to ask for help from a bank, so I'm glad to be able to test how e-banking works on my own. Now I'm not afraid to connect to a real e-bank." Aldona (64).
Demo e-bank is intended for 24% (DESI, 2019) of the Lithuanian population who have never used e-banking. It is constantly used in both individual and group digital literacy training. The demo e-bank has been viewed more than 16,400 times, mostly used by learners in "Connected Lithuania" project, All Digital Week, Seniors Digital Week and other events. Other 70,000 learners are expected in the coming year. This demo e-bank is used as the main practical tool in financial literacy training.
This platform has been approved and supported by the Association of Lithuanian Banks. Demo e-bank is used all over Lithuania (60% in cities / 40% in regions). Users spends an average of about 10 minutes and try out all the functionalities. In user surveys, this system is rated as very useful and is rated positively by 95% of users.
SCALABILITY / TRANSFERABILITY
Demo e-bank platform is flexible and easy to localize. It's convenient to run on any server or website, requires no additional software and is compatible with all popular web browsers. It can serve over 1 million visitors a year at no extra cost. In addition, the platform can be run locally without internet connection. It's planned to use in society education, courses, to service and maintain for at least 3-5 years by Langas i ateiti. Demo e-bank is constantly supplemented with new services and training materials. Emphasis is placed on basic banking services, but in the future, there is every opportunity to expand on topics more relevant to people of all ages (such as card booking, sustainable borrowing or investment training).
The platform can be adapted to any country. Localization requires not only translations, but also specialists (not necessarily a programmer) who can formulate a relevant, realistic scenario, bank account history, and adapt to the specifics of the country's banking system. Demo e-bank has been developed in accordance with the general rules of SEPA operations, therefore localization in European countries would not constitute significant platform changes.
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