# Bridging the Gap Between Banking and Digital Accessibility in Today’s ‘Digital by Default’ World
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-09-22
Category: TECHNOLOGY
Category URL: https://financedigest.com/category/technology
Meta Title: Why Digital Accessibility in Banking is Essential
Meta Description: Learn why digital accessibility is crucial for banking websites and how it can impact customer trust, user experience, and overall bottom line.
URL: https://financedigest.com/bridging-the-gap-between-banking-and-digital-accessibility-in-todays-digital-by-default-worldhtml

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_By **Stuart Blair,** Workplace Product Manager, Texthelp_

By 2024, it is estimated that over [3.6 billion people](https://fortunly.com/statistics/online-mobile-banking-statistics/#gref) will use online and mobile banking. The pandemic has sped up today’s digital landscape as more people complete everyday tasks online. For that reason, companies must understand the importance of digital accessibility. A lack of website accessibility can [cause major problems](https://www.financedigest.com/technology-preventing-minor-regulation-causing-major-problems-the-butterfly-effect.html "Technology Preventing Minor Regulation Causing Major Problems: The Butterfly effect") for many that often go unnoticed until it’s too late.

[Sixty-three percent of U.S. citizens](https://fortunly.com/statistics/online-mobile-banking-statistics/#gref) feel more inclined to try new digital banking applications since the pandemic. [Banking websites and applications are vital resources that help people to make important personal and business financial](https://www.financedigest.com/why-banks-could-stand-to-learn-a-thing-or-two-about-financial-inclusion-from-fintechs.html "Why banks could stand to learn a thing or two about financial inclusion from fintechs") decisions. A [banking website should make it effortless for someone with a disability to manage their finances](https://www.financedigest.com/why-finance-professionals-must-bank-on-a-journey-to-the-cloud.html "Why finance professionals must bank on a journey to the cloud") or access valuable information.

**Accessibility in [Digital Banking](https://www.financedigest.com/britains-digital-banks-need-support-amid-banking-turmoil-trade-body.html "Britain’s digital banks need support amid banking turmoil – trade body") Is Critical**

Every [bank’s core values focus on doing the right thing](https://www.financedigest.com/5-things-to-consider-when-choosing-a-challenger-bank.html "5 Things to Consider When Choosing a Challenger Bank"). It is vital to continuously put people first, always thinking about how to best serve your customers. That [needs to include those older customers](https://www.financedigest.com/why-empathy-needs-to-sit-at-the-heart-of-bbls-and-cbils-customer-service.html "Why empathy needs to sit at the heart of BBLS and CBILS customer service") as well as those with dyslexia, cognitive issues, reading comprehension challenges, and vision loss. Content [needs to be easy to understand and access](https://www.financedigest.com/55-of-uk-smes-unable-to-access-all-funding-needed-to-grow.html "55% of UK SMEs unable to access all funding needed to grow").

In the last year, there has been a major shift to [digital banking](https://www.financedigest.com/digital-experience-and-security-the-crucial-combination-for-banks.html "Digital experience and security – the crucial combination for banks"). As part of this industry-wide movement, we need to ensure that every [bank’s website meets](https://www.financedigest.com/banking-stability-worries-go-behind-closed-doors-at-imf-world-bank-meetings.html "Banking stability worries go behind closed doors at IMF-World Bank meetings") the legal requirements set by the Web Content Accessibility Guidelines (WCAG). These guidelines have been adopted by [countries across the globe as a common measure](https://www.financedigest.com/eu-countries-eye-deal-on-more-energy-measures-within-weeks.html "EU countries eye deal on more energy measures within weeks") for accessibility legislation. By following these guidelines, [banks can better meet](https://www.financedigest.com/the-recent-bank-of-england-meeting-the-biggest-rate-hike-recession-warning-and-the-fallout.html "The recent Bank of England meeting, the biggest rate hike, recession warning and the fallout") the needs of people with visual, auditory, speech, cognitive, and physical disabilities.

As we move towards a [digital world](https://www.financedigest.com/fraud-in-a-mobile-digital-world.html "FRAUD IN A MOBILE DIGITAL WORLD"), it is important to ensure no one is left behind. There are podcasts, books, and news sources available to learn how to make content more accessible, and numerous [digital tools](https://www.texthelp.com/products/reachdeck/) as well.

**Inclusive [Digital Banking](https://www.financedigest.com/the-journey-towards-a-digital-bank-five-major-stages-to-successful-banking-digitalisation.html "THE JOURNEY TOWARDS A DIGITAL BANK – FIVE MAJOR STAGES TO SUCCESSFUL BANKING DIGITALISATION") Affects the Bottom Line**

There are many benefits of creating an inclusive and [accessible banking](https://www.financedigest.com/hair-care-shouldnt-break-the-bank-transplant-surgery-should-be-accessible-and-affordable-for-all-men.html "Hair-Care Shouldn’t Break The Bank – Transplant Surgery Should Be Accessible and Affordable For All Men") website. From a marketing standpoint, building an accessible [digital experience](https://www.financedigest.com/digitalisation-why-using-the-opportunity-of-fintechs-can-create-an-innovative-digital-client-experience.html "Digitalisation: why using the opportunity of Fintechs can create an innovative digital client experience") is a good design by default. It allows all customers to understand the content, which affects the [bottom line](https://www.financedigest.com/why-investing-in-wellbeing-can-boost-your-bottom-line.html "Why investing in wellbeing can boost your bottom line"). Websites with [accessible content help ensure customers don’t go somewhere else to get needed](https://www.financedigest.com/what-needs-to-happen-to-improve-the-landscape-for-smes-trying-to-access-finance-options-in-the-uk.html "What needs to happen to improve the landscape for SMEs trying to access finance options in the UK") information or services.

There are also reputational [benefits from being accessible and committed to social](https://www.financedigest.com/why-you-might-want-to-wait-until-age-70-to-claim-social-security-benefits.html "Why You Might Want to Wait Until Age 70 to Claim Social Security Benefits") responsibility. More people will [trust your brand](https://www.financedigest.com/how-sonic-branding-can-build-trust-and-confidence.html "How sonic branding can build trust and confidence") if they find that the company is socially responsible. In fact, 62% of people prefer to buy from purpose-led brands.

**Make Change Happen Now**

Remember, it is likely more expensive to not address accessibility. Communicate to the senior leadership that it is more cost-effective to address this problem now rather than retroactively, as fines for non-compliance can be large. It can also damage your business’s reputation, causing financial loss, as [customers feel that you aren’t inclusive](https://www.financedigest.com/how-fintech-aids-financial-inclusion-and-helps-customers-through-crises.html "How Fintech aids financial inclusion and helps customers through crises").

There are areas of accessibility that many may not consider but can be a game-changer for your brand. Using dyslexia-friendly fonts, and creating content with closed captioning and transcripts for the visually impaired can make a [big impact](https://www.financedigest.com/russia-could-hike-rates-in-2023-if-inflation-risks-have-big-impact-cenbank.html "Russia could hike rates in 2023 if inflation risks have big impact -cenbank").

**Making a Mark in Today’s ‘Digital by Default’ World**

The [banking industry](https://www.financedigest.com/the-survival-of-the-banking-industry.html "THE SURVIVAL OF THE BANKING INDUSTRY") should be a leader in digital accessibility. It is important for all banks, whether nationally known or locally owned, to be morally responsible to make their services available to all people. In a [digital by default world](https://www.financedigest.com/fintechs-support-of-ukraines-digital-businesses-can-be-used-as-blueprint-across-the-world.html "Fintech’s support of Ukraine’s digital businesses can be used as blueprint across the world"), banks need to be champions of ensuring everyone has access to the financial products and services they need to live and thrive.

**_Author Bio_** **_:_**

**_Stuart Blair, Product Manager, Accessibility & Inclusion of Texthelp_**

_With a background in driving digital inclusion, Stuart has a keen [interest in removing barriers through the use of innovative and inclusive technology to provide equal access](https://www.financedigest.com/rci-bank-increases-easy-access-interest-rate-to-1-02.html "Rci Bank Increases Easy Access Interest Rate To 1.02%") for everyone. Throughout Stuart’s career, he has worked to improve accessibility and inclusion in large government bodies, [financial institutions](https://www.financedigest.com/what-financial-institutions-will-be-like-in-10-years.html "What Financial Institutions Will Be Like In 10 Years"), and multinational companies. He cares deeply about [unlocking everyone’s full potential](https://www.financedigest.com/oil-firms-must-step-up-exploration-off-norway-to-unlock-potential-npd.html "Oil firms must step up exploration off Norway to unlock potential -NPD") and believes technology is a great enabler._


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