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Older Crowd Embraces Online Banking, Rewards Firms’ Digital Push

  • Customers turn to tech offerings while sheltering from virus
  • ‘We may have opened some people’s eyes,’ BofA chief says
Smartphone showing data.

Photographer: Guido Mieth/Stone RF via Getty Images

It took a global pandemic to get many baby boomers to bank online. Lenders have taken notice.

Over the past two months, Americans flocked to websites and apps to manage their finances as the coronavirus limited access to branches, according industry executives. For JPMorgan Chase & Co., existing online clients are using the offerings more frequently, while Bank of America Corp. found that older customers are seeking out its digital services.