Finance and fintech companies have always been at the centre of new tech trends, evolving regulations and shifting user expectations, especially when it comes to digital banking. Following the introduction of new EU legislation to improve the accessibility of digital products and services, Bob Farrell, the VP of Solution Delivery & Accessibility at Applause, looks at how companies are complying with the new rules and setting new standards for inclusivity.
The European Accessibility Act (EAA), which came into effect on 28 June, mandates that banking services (among other services) delivered in the EU – including websites, mobile apps and even ATMs – must be accessible to people with disabilities (PWD). A failure to comply with the law could result in penalties and potential fines.
European financial institutions strive to provide a high-quality customer experience. But, attracting and retaining customers in a constantly changing digital landscape can be a challenge, especially for more traditional banks that have to contend with the emergence of digital native banks. Regardless, both the established banks and the digital disruptors are judged by their customers, including PWD, on the quality of digital experiences they deliver.
We appreciate this only too well, after working closely with EU-based companies and global organisations that serve customers in the region to optimise the digital quality of their products and services. These services span everything from cross-border payments to personalised banking – not to mention, fraud detection and management. Digital accessibility has been at the heart of these programmes to ensure that services are available to every customer, and now it is vitally important that product testing and validation prioritise the needs of PWD and other underrepresented groups.
Committing to EU accessibility
This inclusive approach is reflected by a policy of ‘social commitment’ implemented by one of our customers, a major national bank in the EU. They realised that as we shift to a digital-first economy, some customers may feel displaced by the closure of branches in rural areas, particularly elderly people. Access to financial services is a foundational need, and the disability and elderly communities really rely on digital access. As a result, the bank has committed to delivering digital services that ensure the participation of the communities that have relied on those branches.
It’s an interesting case because we don’t tend to think of the elderly as PWD, but we must acknowledge that as we get older our eyesight, mobility and hearing deteriorate. It’s precisely for this reason that financial service providers have taken it upon themselves to implement support for screen readers and other assistive technologies to help customers, regardless of their age or disability. This level of commitment sets a good example for other financial service providers looking to comply with the EAA and global standards like the Web Content Accessibility Guidelines (WCAG).
Also, a common misconception is that digital accessibility is designed exclusively for PWD. The truth is that it exists to serve everyone, even people with temporary disabilities, like a broken arm or leg. The national bank in question believes the baseline should be that everyone can access digital banking and traditional banking services equitably. This reflects the EAA’s mission to ensure that all digital products and services are accessible.
Building inclusive experiences
To achieve that goal and conform with the EAA, it’s critical to ensure that you are designing products to address accessibility needs and then build those products to synchronise with all the assistive technologies in use by your customers. Once that foundation is in place, you will be able to create an organisational culture of inclusive design, led by accessibility champions who can educate their support teams across design, development, legal and procurement about accessibility requirements and solutions.
Inclusive design centres around creating fully accessible experiences and a seamless UX from the earliest stages of creating a product. Ensuring that screen readers, keyboard navigation and other crucial tools for PWD work properly is essential for financial service providers to stay competitive. Accessibility testing is done in conjunction with functional and UX testing across the full range of digital banking services – all requiring localisation to cater for different languages, cultures, currencies and regulations.
Accessibility testing and localisation can be delivered at scale by leveraging a global community of independent testers who can assess and validate digital products and services, right up to final release. But the key to this methodology is having access to local accessibility experts and testers, particularly when you consider the size and diversity of the EU. It’s possible to select testing teams that reflect your diverse audience, in terms of age, ability, language and demographic backgrounds, while also possessing an understanding of the EAA to best assist you in delivering accessible and highly usable banking experiences. That’s why having a partner with the ability to conduct testing in-market is critically important.
Delivering global accessibility
The real-world testing and feedback approach helps to introduce accessibility earlier in the design process to validate that all workflows and customer journeys have been optimised from the start. Incorporating accessibility requirements in the requirements and design process will eliminate downstream engineering rework. It can help mitigate risks under regulations like the EAA, and universal standards like WCAG, while allowing providers to respond quickly to new directives to improve the end-user experience. A commitment to digital accessibility will help financial service providers, in particular, deliver comprehensive digital quality to all their banking customers in the EU as well as other global markets.
