Proxy Accounts and Behavioural Nudges: Investigating Support for Older Adults and their Financial Delegates

Zach Havens, Celine Latulipe

Letter Of Changes:

Thank you to all reviewers for your kind words and constructive feedback. Below is a list of changes made to address your comments:

* Added an additional prototype screenshot to Figure 1
* Added a new figure, Figure 2, with an outline of the study session format
* Added clarity as to the potential risks of additional proxies to the discussion at the end of Section 6.3.
* Minor typo fixes

* Added supplementary materials:
* Supplement A contains a full description and screenshot of each nudge included in the prototype
* Supplement B contains the guidebook given to participants during their session to guide them through the think-aloud interaction phase

Keywords: hci, design, online banking, older adults, informal caregiving, aging, behavioural nudges, proxy accounts

TL;DR: A study into the use of proxy accounts for delegated access in online banking, and inclusion of behavioural nudges to mitigate financial misconduct..

Abstract: Older adults sometimes delegate banking tasks to trusted close others (family or friends). Increasingly those tasks are completed online, with older adults sharing passwords or account ownership to give delegates account access, which introduces privacy, security and financial misconduct risks. We propose that proxy accounts can support financial delegation while preserving older adults' agency and that behavioral nudges can help delegates maintain financial propriety while performing banking tasks. We developed a high-fidelity proxy account prototype that uses behavioural nudges, and present findings from a think-aloud interaction study (n=21). We present results from the first empirical study of proxy accounts in the delegated banking context. Our results show: 1) positive responses to the fiduciary controls provided by proxy accounts, 2) that some nudges may have the potential to encourage propriety, and 3) that both mechanisms improve the delegate's experience of banking on behalf of an older adult, while legitimizing their role as delegate.

Submission Number: 4