in having access to and benefiting from financial services. this is closely related to the united nations'sustainable development goals ( sdgs ). 4 as we get older, we all become physically weaker. declining mobility means we can no longer take it for granted that we can easily visit bank branches. deteriorating eyesight and hearing ability may impair our capacity to fill out a form or understand a face - to - face explanation. declining cognitive ability may create difficulty in making financial decisions. moreover, there is the risk that senior citizens will become victims of financial crime. in 2018, among all recorded cases of so - called special fraud in japan - - such as telephone - based identity deception - - 78 percent of the victims were aged 65 and over. 5 financial inclusion is therefore an extremely important social agenda in an aging society, as it ensures that senior citizens - - who may have difficulty in visiting banks or making financial transactions due to age - related decline - - can continue to use financial services with confidence and benefit as much as possible from these services. in the field of what is known as " financial gerontology, " there has been discussion about ways to make the adult guardianship system more effective in order to protect the rights of senior citizens with cognitive decline. the use of innovative digital technologies has also been considered. for example, using biometric technology for identity verification and mobile payments will enable senior citizens to have secured access to financial services without actually visiting bank premises. moreover, the use of speech recognition technology will enable financial transactions to be made without the need for physical writing or keyboard skills. advances the sdgs are global development goals set by the united nations in 2015. they are made up of 17 goals with 169 associated targets to be achieved by 2030. 5 see the national police agency, situation of special fraud cases known to the police and of those cleared up for 2018 ( provisional values ) ( available only in japanese ), february 2019. special fraud refers to a type of fraud or extortion offense in which the offender deceives their victim, over the phone or by other means, such as into transferring money to a designated account. for reference, the total amount outstanding of loss arising from special fraud for 2018 is reported to be 35. 68 billion yen. in technology may create increasingly comprehensive financial services that are better tailored to the needs of the individual senior citizen. these new financial services for senior citizens can also be a great business opportunity for financial institutions. on the other hand, as

patrick honohan : sustainable mortgage modification remarks by mr patrick honohan, governor of the central bank of ireland, for the fmc2 conference ( the financial mathematics and computation cluster ), dublin, 23 may 2013. * * * introduction though the vast majority of mortgages are still being fully serviced, the persistent rise in cases of prolonged arrears over the five years of the crisis undoubtedly presents one of the biggest economic policy challenges of our day. wait - and - see may have been an appropriate or sufficient initial position to take as the great crisis unfolded, but the time for passivity is long past. the longer term welfare of borrowers is at stake here, but so is the welfare of taxpayers and users of public services, given that bank losses affect the government because of its ownership of banks. as they now recognise, mortgage lenders need to address the problem of non - performing mortgage debt more energetically than has been the case in the past. they need ( i ) to stem the inflow and get those that can be fully serviced back on schedule, and they also need ( ii ) to find ways of modifying mortgages that involve unsustainable levels of overindebtedness. identifying those that “ can ’ t pay ” from those that are merely “ reluctant to pay ” is a key operational task for the banks. no discussion of the problem of mortgage arrears should neglect this dual character : some need to brought back on track, others need alternative sustainable solutions. responding to escalating regulatory pressure ( including the new targets regime ), banks are now working hard to meet specific targets that should bring the payment performance of their mortgage books back under control in a sustainable manner. the central bank will shortly publish a revised code of conduct on mortgage arrears ( ccma ) to help ensure effective and appropriate resolution of each arrears case. in a parallel response to the crisis of debt distress, and to the ineffectiveness of the existing outdated law, new personal insolvency legislation has been enacted which inter alia streamlines the existing personal bankruptcy regime and introduces a non - judicial procedure for resolving insolvency involving mortgage debt, the personal insolvency arrangement ( pia ). the pia can restructure unsecured and secured debt, including mortgage debt, provided there is agreement by a majority of relevant creditor classes. this new legislative framework has shifted the balance in favour of borrowers, which is welcome and needed ; and