Inclusive Digital Banking
Financial services have long understood the need for inclusion. Delivering products and services at a reasonable cost has been a focus in increasing access for more people. In a digital-first economy, the need to widen this focus becomes stronger.
Accessible banking services will design their websites and apps following inclusive design principles. That means to design in a way that allows everyone to participate equally, confidently and independently online. For financial services that’s important because everyone deserves the right to financial independence. When it comes to banking for disabled people, the same welcoming experience should exist online as in a physical branch.
Webinar: Driving inclusive digital banking
Discover more about inclusive design in digital banking. Hear how J.P Morgan and Morgan Stanley improve digital accessibility for their customers. Discover how they’re future proofing accessibility for their organizations.
Already, that’s a large portion of disabled users being excluded online. If research introduced other groups of disabled users, this number would only grow. Accessible banking services give disabled people the same opportunities as everyone else. And that brings with it benefits for financial organizations.
Benefits of accessible banking services
By being inclusive to the needs of all users, your financial service can increase brand reputation and revenue. Not only by offering an accessible digital banking experience to more people. It also puts your organization in a better place to compete with change-makers in the industry.
“The ability to acquire new customers at ‘digital scale’ will impact market share and challenge existing budgets for branches. The fastest growing financial institutions in the world are all highly specialized in acquiring and onboarding customers digitally – such as Ant, NuBank, Revolut, Chime, etc.” - Brett King
Whitepaper: Accessibility in Financial Services
In this paper discover the importance of digital accessibility for financial services. Hear from authors Martin McKay, CEO & Founder of Texthelp, and Debra Ruh, Global Disability Inclusion Strategist. Gain insights to help you make sure your digital services can be accessed and used by people with disabilities. Receive a 6-step plan to help you take action. You'll also discover results from our research into the accessibility of 30 top National and Community bank websites in America.
Financial services that aren’t digitally accessible leave disabled users no choice but to manage their finances in person.
Not only can this be inconvenient. By being made to feel different, this can also have an emotional impact too.
“Some banks I don’t go to [anymore]. I’ve had bad experiences because sometimes banks don’t want to deal with people with learning disabilities so they push you aside.” - Disabled respondent, National Disability Institute 2019 report
ADA & online banking
When it comes to ADA, online banking should be inclusive of everyone. To follow ADA compliance, banking websites and apps must be accessible to people with disabilities. If not, the impact can be costly.
In recent years, the number of ADA-related lawsuits has increased. In 2019 they hit a high with over 11,000. Of these, 2235 were against financial services.
Digital inaccessibility in financial services exists
We reviewed 30 of the top US National and Community banks for accessibility. The purpose was to discover how easy these banking websites were to access and use for people with disabilities. As well as to highlight the biggest barriers to digital banking. The results revealed that there is work to be done:
- None of the banks fully met Level AA of the Web Content Accessibility Guidelines (WCAG). WCAG Level AA is the international standard for accessibility.
- Across all 30 banks, results found that web content would be considered ‘Fairly difficult to read’. That is according to the Flesch Reading Ease Score.
How to improve accessibility in digital banking
To improve digital accessibility in banking, the Web Content Accessibility Guidelines (WCAG) are a great place to start.
WCAG helps you to consider the needs of disabled users with varying disabilities. It helps you to make your digital services can be perceived, understood and used by everyone. Its requirements consider many factors that affect accessibility including:
- Technical elements such as coding that allows screen readers to access content easily, and in a logical order. And allows keyboard only functionality
- Visual elements such as good color contrast and text size
- Cognitive elements including the need for forms to include explanatory labels or instructions
Podcast: How to create accessible & inclusive digital banking experiences for all
In this podcast, we joined experts from Fidelity Investments & Financial Brand to discuss how to create inclusive digital banking experiences for everyone. Discover how technical accessibility and readability each play a part. Uncover our 7 key takeaways from the episode.
Ask us anything
At Texthelp we want to do our part to open up digital banking for everyone. Book in for a free consultation and ask us anything.
- We'll answer your questions around legal compliance and accessibility best practices
- We'll discuss the factors that affect digital accessibility and usability - from technical barriers to readability issues
- We'll show you tools to help you create enjoyable online experiences for all your customers
Online barriers can be situational and temporary too. For example a parent trying to check their bank balance online before making a purchase in a store, may also be holding a baby. Being able to quickly navigate a mobile app benefits them too. Accessible coding, colours and language all play a part in the experience. These elements make financial services easier for everyone to use, in any situation.
Guide: Achieving the POUR principles
For a website to be considered accessible it must be perceivable, operable, understandable and robust. Discover what this means in our free guide. And learn how you can go above and beyond to improve the user experience for everyone.
Discover how you're doing. Receive a free website review.
We’d love to offer you our support and expertise, to help open up the digital world for all.
Book a free consultation with us and receive a free accessibility and readability review of your website. In the free consultation you'll meet our Business Development Director, James who will:
- Provide a quick accessibility and readability review of your website
- Discuss the factors that affect digital accessibility and usability. Including technical barriers, and readability issues
- Answer your questions around legal compliance and accessibility best practices
- Identify tools that can help you to create enjoyable online experiences for your customers