How inaccessibility harms disabled account holders
Digital inaccessibility has a profound impact on disabled users, constraining their options when it comes to choosing the right financial institution. According to the Census Bureau, approximately 14% of the U.S. population has a form of disability.
The National Disability Institute reports a significant contrast in digital banking usage between households with and without disabilities. Less than half of households with disabilities access their accounts online, with a mere 29% utilizing digital banking. In comparison, 73% of households without disabilities access their accounts online, and 51% use mobile banking.
Financial services that lack digital accessibility force disabled users into managing their finances in person, resulting in not only inconvenience but also emotional impact arising from the sense of being treated differently.
The benefits of accessibility in digital banking
Ensuring digital accessibility in banking is crucial for creating an inclusive financial environment. Let’s look at some of the benefits that come with providing an accessible digital experience.