Completed Project Case Study: FinTech for Dementia: Co-Designing Inclusive Financial Technologies 

Summary 

FinTech for Dementia research project addresses the challenges that older adults living with dementia and their carers face in accessing financial technologies. Led by Dr Sayan Sarcar, with co-leads Professor Joanne Brooke and Dr Catharine Jenkins from Birmingham City University, the project partnered with the charity Better Understanding of Dementia in Sandwell (BUDS). Together, they combined systematic research, expert input, and co-design with communities to create recommendations and early prototypes that promote inclusive and dementia-friendly financial technologies. 

The Challenge 

The UK has more than 944,000 people living with dementia, a number that is growing as the population ages. At the same time, banking and personal finance are increasingly digital, requiring consumers to use apps, passwords, and rapid decision-making processes. These systems are often complex for people with dementia to navigate, and their carers frequently lack adequate training or permissions to help manage finances. Existing responses, such as dementia-friendly debit cards, address only part of the problem and leave broader issues of accessibility, trust, and independence unresolved. Without better solutions, people with dementia risk financial exclusion, vulnerability to scams, and loss of autonomy. 

The Research Approach 

The project unfolded in three main stages. First, the team conducted a systematic literature review to identify barriers faced by people with mild cognitive impairment or dementia and their families when using assistive and financial technologies. This review demonstrated the need for a holistic approach that considered the technology and the broader social and personal context. 

Second, the researchers designed and surveyed with FinTech and dementia experts to capture perceptions of challenges and opportunities. This was complemented by semi-structured interviews with people living with dementia, caregivers, and healthcare professionals. These conversations showed the challenges users face, like memory issues, fear of scams, and dependence on numbers. They also pointed out helpful solutions, such as using biometric access, making processes simpler, and providing more respectful support from staff. 

Finally, the team organised co-design workshops with people living with dementia, carers, and financial stakeholders. These workshops used participatory design techniques to generate early concepts for dementia-friendly FinTech applications, supported by the insight and community connections provided by BUDS. 

Key Findings 

The research uncovered major barriers that prevent people living with dementia from taking part in today’s digital financial world. Many interviewees spoke about their struggles with technology, whether that was remembering PINs, managing one-time codes, or coping with fast-moving online banking screens. Caregivers also highlighted how unclear permissions and a lack of recognition for legal roles like power of attorney made it harder for them to provide support. These challenges create real risks of exclusion, mistakes, and vulnerability to fraud. 

At the same time, the study also revealed practical solutions that can make digital finance more accessible and inclusive. Features such as biometric authentication (like fingerprint or facial recognition), clearer visual and sound cues, and simpler step-by-step processes can greatly improve usability. Importantly, participants said they valued respectful human support, whether in person or online, from staff who understand the needs of people with dementia. 

Professionals who took part in the study reinforced these findings. They stressed that simpler interfaces, proper recognition of legal caregivers, and the direct involvement of people with dementia in co-design are critical. The research also showed that “quick fixes” such as chip-and-signature cards may help with basic payments but fall short for more complex tasks like pensions and investment management. 

The Impact 

The collaboration between Birmingham City University and BUDS brought tangible benefits to both research and practice. For the academics, it provided an invaluable opportunity to learn from lived experience and to develop co-design methods suited to vulnerable populations. For BUDS and their clients, the project offered validation and empowerment, turning participants from passive service users into active contributors, shaping future technologies. The charity also gained recognition for its role in driving innovation and strengthened its capacity to engage in future research. 

For the financial industry, the project offers a set of practical design recommendations and prototype concepts that can inform more accessible digital services. By embedding inclusivity at the design stage, financial providers can reduce exclusion, improve trust, and support customers who are at greater risk of financial harm. 

What Happens Next 

Building on these findings, the team plans to extend the project with a focus on redesigning a FinTech app that integrates dementia-friendly features such as caregiver permissions, simplified navigation, and scam-aware alerts. A longitudinal study will evaluate how such tools impact independence, safety, and user confidence. The researchers will also disseminate their findings through reports, academic publications, and engagement with industry stakeholders. 

With UKFin+’s support, this project has shown how co-design with people living with dementia and their carers can generate meaningful, practical solutions. The next stage will be to translate these ideas into real products and services that make financial technologies genuinely inclusive for one of society’s most vulnerable groups.