After years as an afterthought, accessibility - in many walks of life - is quickly becoming a mainstream issue.
In the last couple of months alone, a new law has been passed in Scotland that prohibits all pavement parking, in part due to its impact on people with mobility issues or physical impairments. Vehicles that block pathways force people to walk around them – often into the road itself – which puts them at significant risk.
Not too long ago, Scotland’s new legislation may have been considered an overreaction or a blunt instrument to solve a minor problem but now it shows how times and attitudes are changing.
Accessibility is becoming an important consideration in all walks of life – including digital finance.
Changing attitudes to accessibility
It’s a popular misconception that accessibility issues only affect a tiny minority of the population – and therefore a very small number of digital finance customers too.
But the reality is that, according to the World Health Organisation, more than one billion people across the world - or 15% of the global population - have some kind of disability. This is a group the WHO refers to as the ‘world’s largest minority’.
It means accessibility is becoming ever more important and no longer a ‘nice to have’ or an optional extra. It’s an essential part of doing business, especially online.
Advocating for accessibility – inside and out
This rise in recognition for accessibility issues has led to a huge growth in knowledge around the various conditions that exist, and how this relates to customers being able to properly access digital finance services.
When designing new products or platforms, we now consider issues that, historically, may not have cropped up at all. For example, certain colour schemes on screens may be ruled out because visually impaired customers may not be able to differentiate them, or others may not be able to see or recognise images.
Other customers with physical disabilities may have difficulty using keyboards, trackpads or a mouse to navigate around, or find it impossible to log into their accounts using biometric data.
Accessibility also impacts how we might think about designing financial products from a connectivity standpoint. The world is becoming increasingly ‘always on’ in terms of accessing the internet but many rural communities still have patchy connections that could hinder their ability to use data-greedy screens, for example.
Awareness around accessibility in wider society is undoubtedly improving but it’s still a major challenge for customer design teams to advocate for certain needs in new products. This is especially true when budgets are squeezed or development windows condensed.
A new priority?
Digital finance companies, for whom trust in their customer base is so important, have focused heavily on security features and anti-scammer technology in recent years. Accessibility is – or should be – as important a consideration, not least because both elements are considered part of any minimum viable product.
Historically, a ‘user friendly’ platform would suffice - but that’s no longer good enough. Now, the user experience needs to be positive and seamless for every single customer. The best way to ensure we’re catering for everyone is through detailed insights into our audiences, highlighting their needs and the product development solutions we should pursue next.
Businesses and brands that cater for their users in this way will receive positive feedback on their products, especially among groups for whom accessibility is a common hurdle. But that positivity also bleeds into the mainstream – especially in a society where the voices of minority groups are heard louder than ever before.
And by showing a willingness to cater for our entire audience, a level of trust in any given brand will be established across all customer groups - just as much as having a safe and secure platform.
Why accessibility matters more than you might think
Accessibility can be seen as an issue that impacts marginalised groups, but – as we’ve seen above – it’s now becoming more mainstream, and there are many high-profile examples of individuals suffering with accessibility issues.
Recently, disabled former police officer Tony Hawkins found himself locked out of his account for weeks - and lost £3,000 in the process - while his bank investigated fraudulent payments. The entire process would have been significantly streamlined by him having digital access and the ability to report the fraud online. However, because Mr Hawkins was unable to use online banking due to his impairments, he found himself left behind.
On an individual level, these stories are challenging to read and produce negative, reputationally damaging headlines. That said, a single customer taking their business elsewhere due to a lack of accessibility could be considered incidental for a huge banking brand with millions of customers.
However, at scale, the act of customers (and potential customers) choosing other digital finance options with better accessibility records can translate into millions in lost revenue – not to mention the bad press from neglecting the needs of a large group.
Still work to be done
Continuing to invest in accessibility is crucial, and it can drive significant brand loyalty and a positive reputation - especially with more customers looking to work with brands that show themselves to be proactive and inclusive.
According to a 2023 study by the University of Bristol and the Research Institute for Disabled Consumers, a quarter (24%) of customers with a disability reported problems using online banking services. That figure rises to 58% among those who have difficulty using digital devices.
Meanwhile a report published by the Communications and Digital Committee of the House of Lords suggested disabled people are twice as likely to lack basic digital skills, which severely limits their access to essential financial services.
Gartner’s Market Guide for Digital Accessibility 2023 predicts “strong growth” for the sector in the next three years, stating that “digital accessibility is no longer a choice, but a requirement”.
Adjusting to this developing landscape begins with user empathy and, crucially, detailed customer insights, so now is the perfect time to get ahead of the curve and clear the pavements of digital finance for us all.
About Openbox
Openbox is the premium digital experience partner to the financial services industry that seamlessly connects technology and customer. Armed with decades of experience, our consultants work with you to deliver high quality digital experiences that meet industry regulations and customer expectations, every time. Our dedication to exceptional collaboration and communication, paired with our deep industry knowledge, sets us apart from other digital experience partners.
We work with you to drive successful digital adoption, strengthening your customer acquisition and retention. Be the only choice for your customer with Openbox by your side and be the digital experience leader in financial services.